PRESS RELEASE                                  PRESS RELEASE
                             BANKSETA scores top marks

The BANKSETA (Banking Sector Education and Training Authority) is determined to
play its part in establishing South Africa as a leader and continue to ensure that the
banking and microfinance sector has the requisite skills to remain globally competitive.

Tasked with supporting and growing the level of current and future skills needed in the
banking and microfinance sector, which currently employs around 148 000 people, the
BANKSETA has during the period under review, effectively scored 120% against most of
the set targets and obtained a five out of five rating overall in the following areas: an
efficient and effective administration system; processes in accordance with legislation;
delivery on the NSDS; alignment to the future in skills development; and the viability and
relevance of the SETA.

The BANKSETA’s ninth year of operation (1 April 2008 to 31 March 2009) has yielded
positive results once again. “The BANKSETA’s strong track record for delivery confirms
that the BANKSETA remains a SETA that its stakeholders can bank on,” says
BANKSETA CEO, Max Makhubalo.

Ensuring viability and relevance, the BANKSETA implements skills development
initiatives where a real need has been identified by the sector in which it operates. . Over
the past nine years, 51 learnerships have been registered and 16 217 learners have
been registered onto BANKSETA learnerships. Of these, 7 989 were existing employees
and 8 228 learners were previously unemployed.

“The BANKSETA is proud that it has exceeded its ambitious Letsema Learnership target
of equipping 5 000 unemployed learners with the skills that will render them employable.
Some 5 206 learners have been registered onto the learnership,” Makhubalo reveals.
The placement rate on completion of the Letsema and Kuyasa Learnerships continues
to impress. Since inception 75-85% of learners have been placed in employment. “This
achievement confirms that the BANKSETA is making a difference in the lives of
unemployed youth. Thanks to these learnership programmes, a number of young South
Africans now face a positive future where they can make a difference to the economy
and to their own communities and families,” he observes.

BANKSETA continues to make an impact on a global stage as well. Successful
International Executive Development Programmes (IEDP) were run in Canada and the
UK. In addition, candidates on the 2008 Women’s Development Programme undertook a
successful study tour to India. The candidates returned with great insights and thereafter
hosted a successful Closing Conference entitled: The Future is Now.
International Conferences play an important role in ensuring that the sector remains
abreast of international best practice and trends and development in banking
internationally. The BANKSETA hosted a highly acclaimed bi-annual International
Conference in August 2008. “The conference presented future scenarios within the
banking sector and also provided a global perspective on HR development. The
research and benchmarking provided a contextual base in order for stakeholders to
determine what is relevant to the core of skills development across all banks,” ..
Makhubalo recalls.

BANKSETA’s Junior and Middle Management (JAMM) Programme continues to play an
important role in increasing the pipeline of managers at junior and middle management
levels. One hundred and ninety six (196) candidates have recently graduated from the
Programme. 55 candidates graduated in Gauteng, 26 in KwaZulu-Natal, 17 in the
Eastern Cape, 8 in the Free State and 27 in the Western Cape. It is interesting to note
that 80 (61%) of the candidates on programme are women. Interest in the Masters and
Executive Courses was excellent and confirms the relevance of these offerings. Some
77 individuals in total benefited.

Considerable inroads have been made to increase the BANKSETA’s provincial footprint.
One of the highlights was the launch of the BANKSETA-funded Thuthuka Resource
Centre in Lusikisiki. Indicative of the importance of this initiative, guests at the launch
included His Excellency King Zwelonke Sigcawu and the Minister of Labour, Membathisi

Cognisant of the need to ensure that it is aligned to the future in skills development, the
BANKSETA has launched a Quality Council for Trades and Occupations (QCTO) Pilot
Project. The QCTO curriculum and qualification for the Bank Worker occupational award
has already been developed, enabling the BANKSETA to “hit the ground running,” when
the QCTO is launched in 2010.

Since its inception, the BANKSETA has been widely regarded as one of the top SETAs.
This is not surprising when one considers that the BANKSETA has enjoyed unqualified
audits for nine years in succession. “This achievement not only points to the seriousness
with which we view our mandate, it also reflects the commitment of Management and the
BANKSETA Council to govern the affairs of the BANKSETA in a proper and professional
manner,” Makhubalo explains.

Makhubalo attributes the BANKSETA’s success to a strong Council, strong stakeholder
support and committed, experienced staff. “The sector has shown its confidence in the
BANKSETA by supporting the SETA re-licensing process. We have every hope and
belief that we will be re-licensed in our current format,” Makhubalo concludes.

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