FASSET

The Seta for finance, accounting, management consulting and other

related services

Presentation to the Portfolio Committee on Higher Education and training17 November 2010

DELEGATION

• Robert Capper (Chairperson)

• Mpuseng Moloi (Vice Chairperson)

• Cheryl James (CEO)

• Nadine Kater (COO)

• Asha Lakhoo (CFO)

OVERVIEW OF PRESENTATION

• Sector profile• Financial information and governance• Targets and Interventions• Regional Impact and Rural Reach• Decent Work• Partnerships• Challenges• Questions

SECTOR PROFILESUBSECTOR No. of organisations Employment

Accounting, tax & auditing services

3911 (63%) 57481 (49%)

Investment entities & trusts 619 (10%) 6565 (6%)

Stockbroking 626 (10%) 10328 (9%)

SARS & government departments

6 (0.1%) 16726 (14%)

Management consulting 416 (6%) 13494 (12%)

Other 634 (10%) 12774 (10%)

TOTAL 6212 (100%) 117368 (100%)

ORGANISATION SIZE

GEOGRAPHIC DISTRIBUTION

RACE and GENDER

FINANCIAL INFORMATIONAMOUNT (millions)

SDL income R200,3

Total revenue R216,1

Total expenditure R246,4

Expenses as a % of SDL income 123%

Total cash and cash equivalents R94,1

Net Deficit R30,2

Mandatory grant expenses (87%) R108,7

Admin expenses (7.96%) R20

Allocated R42

GOVERNANCE Unqualified audit report for 10 years in a row

Commitment to good corporate governance

Management Board and committee performance assessments

Alignment to King III

Support extending the audit to include predetermined objectives – clean report

Appreciate the value added by the Auditor General

NSDS TARGETS

• Targets met and exceeded

• Strategic alignment of NSDS II to sector needs

• Addresses identified skills shortages

What does this mean?

INTERVENTIONS

• LEARNERSHIPS– 4278 learners signed onto learnerships, 3367 completed

with a 100% placement rate, 52% Black learners

• DEVELOPMENT PROJECTS– Over R310 million spent on 62 Development Projects from

matric to post graduate level. 11 000 learners supported over the past 10 years. R34.6 million on 4 new projects I Year 10

• LIFELONG LEARNING– 13529 learners completed training in LL over the past year

INTERVENTIONS• GRANTS

– Over 87% of Fasset levy payers claim Mandatory Grants – R18 million paid out for 765 Learnership Cash Grants – R13 million paid for Strategic Cash Grants

• CAREER GUIDANCE CAMPAIGN– 300 000 school learners reached – 12 universities– 100 FET colleges

• DISABILITY TOOLKIT

REGIONAL IMPACTPROVINCE NUMBER OF LEARNERS SPEND

Eastern Cape 1805 R 5,5 million

Western Cape 5039 R 10,6 million

Northern Cape 346 R 210 k

Free State 853 R 1,1 million

KwaZulu-Natal 3100 R 16,8 million

North West 440 R 328 k

Gauteng 10906 R 68,6 million

Mpumalanga 549 R938 k

Limpopo 495 R443 k

RURAL REACH

• Development projects: all 9 provinces

• Lifelong learning: all 9 provinces

• Higher Education Institutes: 7 provinces

• Workplace providers (accredited employers): all 9 provinces

• Career guidance campaign: all 9 provinces

DECENT WORK + SUSTAINABLE LIVELIHOODS

PROGRAMME STATUS LEARNER NUMBERS

LEARNERSHIPS REGISTERED 39082

COMPLETED 19240

PLACED 100%

LIFELONG LEARNING

TRAINED: 2009/2010 13529

TRAINED: 10 YEARS 55978

PARTNERSHIPS

CHALLENGES• PIPELINE CHALLENGES

– Poor matric results– High drop out rates at Tertiary Institutions– Fasset is a incubator sector for the broader economy

• Catalytic grants can overcome this challenge

• FUTURE SKILLS DEVELOPMENT LANDSCAPE– Move to Department of Higher Education and Training– QCTO– NSDS III

THANK YOU

Questions?