12 000 young people empowered by BankSeta

The Letsema and Kuyasa Learneship flagship programmes for 2015 boast an achievement of 21 distinctions obtained by the class of 2015. The BankSeta in partnership with the banking and microfinance sector ensures that the youth are provided with platforms to learn and acquire workplace experience. To-date the programmes have successfully placed 12 183 learners in the workplace with an average of 75% of learners acquiring full time employment in the sector. This year, 618 graduates across the country completed a recognised qualification which will open doors for them.

The environment in which BankSeta operates, and its consistent, robust engagement with stakeholders, played a crucial role in identifying skills development threats and opportunities in the banking and microfinance industry. South Africa has set itself the goals of eradicating poverty, reducing inequality, growing the economy by an average of 5.4%, and cutting the unemployment rate to 6% by 2030, as set out in the National Development Plan (NDP) 2030. Education, training and innovation are crucial to the attainment of these goals.

While the number of skilled workers has grown rapidly, from 8.9 million in 1994 to 15 million in 2014, BankSeta will continue to develop programmes that support skills development and NDP 2030 to meet the skills demands of the sector.

Marketing and Communications Manager, Busisiwe Lusisi: “It is not easy as a young and unemployed person to be focused without much-needed skills. The role of the government and the business sector in developing skills must be communicated to the youth so that they are aware of opportunities to upskill themselves, thereby changing their lives and those of their families. These youth may not have had access to further education or experience required by business to build the economy. BankSeta has identified gaps between the two processes and developed programmes that will bridge the gap.”

“These organisational achievements on the programmes is attributed to number activities includes number of intake year by year, strong relationship with Milpark institution and host Banks,” Ms Deerine Naidoo, Youth Development Manager.

Get more details on the Bankseta programmes on the Bankseta website