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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?