September 2015


I would like to send you warm and colourful wishes for this Spring season.

In theSeptember month, South Africans across the spectrum will be celebrating their culture and the diversity of their beliefs and traditions. As we Braai4Heritage, let's remember to support our young and hardworking Matriculants as they prepare for their final exams. They're almost at the end of their road but there is a wonderful journey ahead that awaits them. All the best to the Matric class of 2015.

Zandile Skosana
Communications Manager

Fasset's Annual Function 2015

Fasset started the September month with a bang. We hosted our 15th Annual General Meeting and Thank You event on Thursday, 10 September 2015 at The Venue in Melrose Arch. The theme of the event was "Innovation in Skills Development". Never in a million years did I imagine Cheryl James, CEO of Fasset riding in a taxi and jamming to Mi Casa. The stellar financial performance of the Seta and the showcase event were the highlight of the day and the stakeholders in attendance were well entertained by some of Fasset's staff and stakeholders in the sector.

The event was a resounding success and we would like to send a special word of thanks to all of our stakeholders who attended the event. The Annual Integrated Report for the financial year ended 31 March 2015 and the event pictures are available on our website for downloading.
Fasset funding bid secures R54 million for black accounting students

The Centre for Accounting in the Faculty of Economic and Management Sciences in the University of the Free State has made great strides with its INTRABAS projects, which support the development of black student enrolment and performance in Accounting Studies.

Recently, the university won four bids that have secured R54 million in funding from Fasset for 2016. This funding will support the teaching and learning initiatives of 960 black accounting students enrolling for the following four accounting programmes: BAcc, BCom(Acc), BAcc(Hons)/PGDipCA and BCom(Hons in Acc)/PGDipGA. The benefit to these students is the envisaged increase in throughput rates by 10% from year- to- year until the Honours year. This covers tuition fees, text books, and extra tutorials, including autumn, winter and spring boot camps.

"Fasset funding will give the Centre for Accounting an opportunity to strengthen our current student-centered teaching model" said Prof Hentie van Wyk, Programme Director: Training of Accountants at the UFS.

The Centre for Accounting has a "1" accreditation grading from the South African Institute of Chartered Accountants (SAICA), and has achieved an 80% average success rate over the past three years in the Initial Test of Competency (ITC) of SAICA.

Applications for Fasset funding are available at the Centre for Accounting at the Faculty of Economic and Management Sciences. The closing date for applications is 31 October 2015.
For more information, contact Dirkelien de Beer on +27(0)51 401 3688 /Prof Hentie van Wyk
Inter-SETA Transfers

Fasset has an obligation to ensure that companies that are transferring into Fasset actually belong in the sector. Of late, Fasset has received many Inter-SETA Transfer (IST) applications for organisations that do not belong in the Fasset sector. Many of these organisations want to take advantage of the benefits that Fasset provides to its members. In the interests of being accountable to our stakeholders and being accountable for public funds, Fasset does scrutinise the IST applications and has turned down those that do not fit squarely into the Fasset sector.
Enter the Women's month challenge and Win!

Fasset would like to thank all employers who participated in the Women's Month challenge in August to "Coach & Mentor" an intern in their workplace. Heads above shoulders to our winners of the challenge, Audrey Mathebula (BAP (SA)) and Rudzani Singo of Red Bubble Advisory & Accounting. We would also like to acknowledge our runner up Veld Cooper & Associates for their effort. Thank you for making a difference in the workplace.

Click here to read their story.

Fasset with Heart

Join Fasset in its quest to ensure that girl learners at Far North High School in Cosmo City do not miss valuable school time because of their monthly periods.

Did you know that approximately two million young girls between the ages of 12 and 18 years who are living below the poverty line in South Africa have to resort to using old clothes, rags, newspapers, leaves, bark and grass because they cannot afford sanitary towels*.

Girls who cannot afford sanitary pads or tampons miss approximately five days of school a month, which amounts to 60 missed school days a year. This is time that just cannot be made up and it is affecting their education. Help to reduce the absenteeism by donating to this worthy cause every month.

Your assistance will go a long way towards helping girls to reclaim the dignity that poverty denies them. Please drop your kind donations at Fasset's office. The delivery address is Building 3, Ground Floor, 299 Pendoring Road, Blackheath.

* Source: Dignity Dream

Fasset Success Stories

Please write to us and let us celebrate your successes with you! We always love to hear back from those who have completed Fasset-funded programmes so that we can share those encouraging stories with our sector. We share these via email as well on our Facebook page.
Fasset is recruiting 25 Brand Ambassadors from Universities and TVET Colleges for 2016-2017

Fasset will be embarking on a recruitment drive for the next academic year. Fasset deployed a range of innovative strategies in order to deliver against the Government's vision of 2.5 million young South African's enrolled at TVET colleges and 1.6 million young South Africans enrolled in public universities by 2030. The Brand Ambassador programme was launched in 2012 to deliver career awareness and bridging programmes at schools, TVET Colleges, Universities and Universities of Technology. TVET Colleges, Universities of Technology and Universities are invited to participate in this recruitment drive and assist us to identify the most vibrant people to partner with us in this successful intervention.
Fasset and ACCA move to stem looming CFO shortage

South Africa faces challenges in retaining a skilled work force and often many qualified professionals are lost to European, Asian or American markets. In response to the looming CFO shortage, and in the spirit of realising true transformation, The Association of Chartered Certified Accountants (ACCA) and Fasset have launched the Impumelelo Eyethu Academic Programme. The programme, created through incubation and research, has been fine-tuned to gear future CFOs towards leadership and success in the local and African market space.

ACCA undertook a rigorous recruitment programme and 60 South African learners were selected on the criteria of performance and transformation. Through the ACCA Approved Learning Partner (ALP), the candidates are mentored to successfully write the 5 ACCA professional level examinations. Passing these examinations forms a vital part of the academic requirement to become an ACCA member with the designation of Chartered Certified Accountant. Further to that, working with a placement partner, ACCA will place the candidates into employment and/or learnerships in order for them to obtain relevant practical experience.

"The ACCA qualification can bridge the skills gap and transform the accounting profession in South Africa" Charlene Raiser Acting Head of ACCA, South Africa

A recent survey by Deloitte showed that 58% of South African CFOs have indicated an improvement in their company performance, while 80% earmark African expansion within the next five years. The trend of moving business across boarder will impact future demand in this sector and many CFOs would need to be equipped with globally recognised accreditation and supportive mechanisms. ACCA carries strength in the local and global market and will offer the 60 successful candidates global opportunities as well as local experience.
LL calendar of events

Check out the upcoming Life-long learning seminars for the month of September in our Events Calendar. Diarise the events that are most relevant to you and make your booking to reserve your seat. We look forward to hosting you at these seminars where best practice in our sector is shared.
10 Getting Started with Fasset

Click here for a guideline on how to get started with Fasset and how to take advantage of the Seta's offerings.
11 Support to Non-levy payers

Non-levy paying employers can register with Fasset and enjoy Seta benefits and incentives such as attending free training events. Click here to download the registration form.
Career Guidance

To find out how to get Fasset material for your Career Guidance programme, send an email to outlining your requirements.
13 Do we have your correct details?

If any of your particulars have changed, please contact Fasset at 086 101 0001 or via email at, so that we can update your details on our database. You can also login to verify or update your details.
14 Fraud Prevention

In order to assist Fasset in giving effect to our Fraud Prevention Plan, we encourage all stakeholders to make use of the Fasset Tip Offs Hotline 0800 205 054 to notify Fasset of any suspected fraudulent activities impacting on Fasset.
15 Engage with us and Win

Congratulations to Sekgene Mametja from Helron Financial Services, the winner of our website lucky draw competition for August 2015.