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Development Projects > About Development Projects |
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Background to Fasset Development Projects
To facilitate skills development, transformation and social upliftment in the sector in pursuance of NSDS Targets 4.2 (Number of young learners in sector relevant programmes from Further Education and Training and Higher Education and Training institutions assisted to gain work experience, of whom at least 70% successfully find placement) Fasset funds projects that meet specific criteria in this regard. Unclaimed grant money is used to fund these projects.
Fasset's Management Board earmarks, on an annual basis, areas of high skills need within the sector, based on the Sector Skills Plan and other research. Strategic project interventions are identified and public tenders are advertised annually in this regard. All new projects are approved by the Executive Committee (Exco).
All Development Projects are geared towards addressing the poor demographic profile within the sector, and all are therefore in line with the NSDS targets:
- 85% Black
- 54% Women
- 4% Disabled
All tenders are advertised on the Fasset Tender Notices page, in the Government Gazette, and on the government tender board website (http://www.info.gov.za/documents/tenders/index.htm). Potential service providers are advised to regularly check these public sources of information for new and updated information.
Full details regarding the development projects funded by Fasset can be found under Fasset Development Projects. Enquiries regarding any specific project or involvement these can be addressed to the Fasset Call Centre on 086 101 0001.
Benefits of Development Projects
Benefits for the Sector
- Increase the number of African, Coloured, Indian and disabled learners on registered learnerships
- Increase the level of success of these learners on learnerships
- Increase the skills levels of potential employees
- Assist in transformation of the sector
- Stimulate and support skills development in small business
- Increase Fasset's profile in the sector
Benefits for Learners
- Improvement of work skills leads to improved productivity
- Staff morale is maintained due to management's "investment" in learning
- Learners are entitled to attend Fasset CPE's for learners
- Learners are more motivated
- Equal access to education and training, and employment opportunities
- Allows learners to plan a career path
- The learner interacts with clients and obtains an understanding of workplace dynamics
- The learner interacts within the working environment (practical)
Benefits for Employers
- A more motivated and highly productive workforce
- Overcomes the skills shortage within the labour force
March 2010: Fasset allocates another R34m to Development Projects
Fasset’s Development Projects continue to play an important role in fast-tracking transformation. Projects are funded from unclaimed funds. Fasset’s Executive Committee recently approved an additional R34m in funding, bringing the amount allocated to these projects to just over R290m.
The funding pool was smaller than in previous years, and as a result, Fasset was only able to fund four projects.
Fasset has agreed to fund 140 candidates on the Independent Regulatory Board for Auditors’ 2010 Public Practice Exam (PPE) Support Programme. The programme targets repeat Black, Indian and Coloured candidates, who want to rewrite the Public Practice Examination (PPE). The programme will run from July to December 2010.
Fasset has agreed to fund 30 learners on the Pakhamani Work Readiness Programme, bringing the total number of learners funded to date to 130.
Delivered by Guarantee Trust Corporate Support Services (GTCSS), the programme targets unemployed matriculants and those with incomplete degrees or diplomas. Learners complete a Certificate from the Association of Accounting Technicians (AAT), and the Advanced Certificate from AAT. During the programme, they receive work-readiness training before being placed on NQF-Level 5 Accounting Technician Learnerships.
Fasset has agreed to fund 460 learners on the Bonani Work Readiness Programme, bringing the total number of learners funded to 2 730. This programme is also delivered by GTCSS. Unemployed black finance graduates with B Com degrees or National Diplomas are equipped with workplace skills and then placed on Fasset registered learnerships. The programme will be offered in Johannesburg, Pretoria, Durban and Cape Town. The second intake will commence in July.
Fasset has also agreed to fund 100 learners on the Thusanani Work Readiness Programme, bringing the total number of learners funded by Fasset to 940. Offered by Stanley Hutcheson & Associates in partnership with the University of Johannesburg and Deloitte, the programme targets unemployed graduates in areas such as communication, problem solving, presentation skills, teamwork, and conflict management.
Fasset has funded some 61 Development projects and more than 11 000 learners have benefited.
(Fasset is the Seta for Finance, Accounting, Management Consulting and Other Financial Services).
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