One of the most powerful tools when it comes to helping an organisation achieve its aims is partnerships.
In the case of SAICA, these aims include working towards the UN’s Sustainable Development Goals (SDGs) with a keen focus on quality education (SDG 4) and decent work and economic growth (SDG 8). SAICA’s Gugu Makhanya explains that the SETAs’ support has been central to the success of Thuthuka, the organisation’s vehicle for transformation and skills development. ‘We have a drive to transform, grow and own the accounting education landscape in South Africa, and Thuthuka helps us get closer to achieving this objective by getting involved from school level, right up to professional qualification level,’ Makhanya explains, noting that Thuthuka’s endeavours have helped to build a pipeline of future business leaders. ‘Another critical element of Thuthuka’s strategic focus is South Africa’s National Development Plan: Vision for 2030. This calls on the private, public and civic sectors, as well as South Africa’s citizens, to rally behind a united vision of South Africa’s development. The commitment of the Department of Higher Education and Training, through the SETAs, could not go without mention here.’
Goals of this magnitude could not be achieved working in isolation, which is where the SETAs have a key role to play. The partnership is a natural one, since the SETAs are mandated to contribute to skills development, especially amongst individuals who are already employed or seeking employment. As Makhanya comments, there is a perfect synergy between these bodies.
Makhanya says that the SETAs’ greatest contribution towards Thuthuka, since its inception, has been their generous funding, which she describes as ‘the lifeline of Thuthuka’.
Focus on the financial and accountancy sector
Ayanda Mafuleka, CEO of the Financial and Accounting Services SETA (FASSET), says that as a former beneficiary of a programme funded by her own SETA, she has personal experience of the value of the body’s work with Thuthuka – which is why she is an enthusiastic supporter of its efforts. ‘The skills needed by the financial industry remain scarce, especially among people from previously disadvantaged communities. And yet, they are crucial: CAs have the competencies required to drive and manage our country’s financial reserves. Without them, there is little hope of keeping on track, either to grow the economy or to move away from the informal sector which currently accounts for many jobs in South Africa.’
‘Because it is not a tertiary institution or education service provider, FASSET has to rely on other organisations as implementing agents to help it meet its objective of increasing the flow of new accountants in the broader economy, and African black entrants, in particular, into the sector,’ she continues. ‘Thuthuka has done exceptionally well in this regard. The demographic profile of the sector has changed dramatically over the past two decades.’
FASSET’s role in the partnership extends to offering support at all stages of prospective accountants’ careers, starting with career guidance to increase the throughput rate of learners with pure mathematics and accounting as subjects of choice, to a bursary scheme to fund undergraduate studies. The SETA also funds post-graduate studies in the form of the CTA qualification, one of the minimum requirements for sitting for an ITC exam, and provides academic support for those writing the exam. This is important in helping to address high failure rates, Mafuleka says: ‘It’s not uncommon for learners who have done well in their undergraduate and CTA qualifications to find this part of their journey especially challenging. This is why we work to cement all learnings up until this point. We place special emphasis on supporting students who have had to repeat the work, so that when the time comes to sit the APC exams, they’re ready.’
In 2019 and 2020, FASSET allocated more than R41 million for 945 learners to benefit from academic support and take part in the FASSET Bursary Scheme and Professional Body Designation programmes.
Mafuleka says that it is her hope that more of the students who graduate from this would consider consider the public sector as an employment option, as the sector has a great need of CAs, their skills and their moral compass.
FASSET’s support of Thuthuka is set to continue in the long term, she adds. Going forward, the SETA would like to see a greater accent on assisting students who have graduated from TVET colleges. She also feels that significant benefits could be derived from formalising FASSET’s funding programme through the implementation of an MOU with stated targets. ‘This would be sure to boost throughput,’ she says.
Bank on sustainable programmes
The Banking Sector Education and Training Authority (BANKSETA), which focuses on education and training in the banking sector, is another SETA that has contributed funds and supported the Thuthuka programme.
Mia Makhanya, chairperson of the BANKSETA’s board, explains that BANKSETA’s ambit encompasses other commerce-related fields too, including the Information and Communications Technology and Engineering fields, which is why there is strong alignment between its goals and those of Thuthuka. ‘Both entities are geared towards upskilling people so that they can contribute as economic agents, not only in the banking sector but in the greater economy,’ she observes.
As part of this, BANKSETA collaborated with Thuthuka, along with the University of Johannesburg, the University of Venda and the University of Zululand, in a multi-million-rand project, equipping the two latter tertiary institutions to offer a professional accounting science degree. This has helped to make education more accessible by paving the way for both the Venda and Zululand universities to receive accreditation in 2018. ‘These institutions are now able to welcome learners wishing to study for an accredited BCom so that they can go on to qualify as CAs,’ Makhanya says. The number of students swift to take advantage of the universities’ new status is proof of the need for the programme: around 400 students enrolled in the University of Zululand’s accounting undergraduate programme following its accreditation. Furthermore, at the University of Venda, 37 students went on to receive awards of excellence for their performance in various modules.
Although the four-year project came to an end in 2018, BANKSETA has continued to support strategic projects that have the potential to develop appropriate skills and is eager to do more work of this nature – especially, says Makhanya, in areas where factors such as geography impeded access to education and, by extension, industry transformation.
‘We feel that partnerships such as this are critical. Skills development cannot be left to the government alone,’ Makhanya concludes.
SAICA’s Gugu Makhanya notes that Thuthuka welcomes funds from all organisations in the profession