“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,” said the Banking Sector Education and Training Authority (BANKSETA).
BANKSETA said Letsema -- its funded youth development intervention aimed at recruiting unemployed matriculants in order for them to further their studies and expose them to the world of work -- together with Kuyasa boast an achievement of 21 distinctions obtained by the class of 2015.
The Kuyasa post-graduate learnership is a Bankseta funded youth development intervention aimed at recruiting unemployed graduates in order for them to further their studies and expose them to the world of work.
The environment in which BANKSETA operates, and its 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, the 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 at BANKSETA Busisiwe Lubisi said: “It is not easy as a young and unemployed person to be focused without much-needed skills. The role of 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”.