Introduction
FASSET Learnerships-In South Africa’s dynamic economic landscape, the financial and accounting sectors play a pivotal role in driving business efficiency, transparency, and economic growth. At the heart of developing skills and capacity in this sector is FASSET—the Finance and Accounting Services Sector Education and Training Authority. Established under the Skills Development Act, FASSET is committed to promoting skills development in areas such as accounting, finance, auditing, and management consulting.
This blog post explores what FASSET is, its objectives, the types of learnerships and bursaries it offers, and how individuals and organisations can benefit from its initiatives.
What is FASSET?
FASSET is one of South Africa’s 21 SETAs (Sector Education and Training Authorities), specifically focused on the finance and accounting services sector. Its primary mission is to facilitate learning and development to enhance the competence of the workforce within its sector.
FASSET covers a wide range of industries including:
- Public and private accounting
- Financial and investment services
- Taxation services
- Bookkeeping
- Business and management consulting
- Internal auditing
FASSET Learnerships Key Objectives
FASSET’s goals are aligned with the National Skills Development Strategy (NSDS). Some of its key objectives include:
- Increasing access to occupationally directed programmes
FASSET ensures that individuals can access accredited training that leads to employment or self-employment within the sector. - Encouraging lifelong learning
Through skills programmes, internships, and continuous professional development (CPD), FASSET promotes ongoing learning. - Promoting transformation and inclusivity
Special attention is given to historically disadvantaged individuals, women, and persons with disabilities. - Facilitating workplace experience
FASSET supports initiatives that provide real-world experience to learners, making them job-ready upon completion.
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FASSET Learnerships and Skills Programmes
FASSET plays a key role in bridging the gap between academic knowledge and workplace experience through its learnerships. These structured programmes combine theoretical learning with practical work experience, typically lasting 12 months.
Popular Learnerships Include:
- Accounting Technician (SAQA ID: 77143)
- Bookkeeping (SAQA ID: 58376)
- Professional Accountant (SAQA ID: 20366)
- Tax Technician (SAQA ID: 78964)
These learnerships are fully funded by FASSET, making them accessible to unemployed youth who want to enter the finance sector. Employers also benefit by gaining access to skilled learners and receiving tax incentives for participating in learnerships.
FASSET Bursaries and Financial Support
FASSET offers bursaries and discretionary grants to qualifying individuals and training providers. These are targeted at:
- Matriculants enrolling in finance-related qualifications
- University students studying accounting, auditing, and financial management
- Individuals who have completed qualifications and require work experience to register with a professional body like SAICA or SAIPA
These funding opportunities not only reduce the financial burden on learners but also help South Africa meet its demand for qualified finance professionals.
Career Opportunities in the FASSET Sector
FASSET’s initiatives open doors to a wide range of high-demand careers. Some of the most sought-after roles include:
- Chartered Accountant (CA)
- Internal Auditor
- Financial Analyst
- Tax Practitioner
- Risk Manager
- Management Consultant
These careers are critical to the financial health and accountability of businesses, both in the private and public sectors.
Partnering with FASSET: Benefits for Employers
Organisations in the FASSET sector can benefit significantly by partnering with the SETA. Advantages include:
- Access to funding for training and skills development
- Guidance on aligning training programmes with occupational standards
- Support for transformation initiatives through employment equity and BBBEE alignment
- Assistance in developing workplace skills plans (WSPs) and annual training reports (ATRs)
FASSET ensures that skills development is not only a legal compliance measure but also a strategic business advantage.
How to Get Involved
Whether you’re a student, graduate, or employer, getting involved with FASSET is straightforward. Here’s how:
- Students & Graduates: Visit www.fasset.org.za to explore available learnerships, bursaries, and internships.
- Employers: Register with FASSET and submit your WSP and ATR to access grants and support.
- Training Providers: Apply for accreditation with the QCTO and partner with FASSET to deliver sector-relevant programmes.
Conclusion
FASSET is a vital player in transforming South Africa’s finance and accounting landscape. Through its comprehensive approach to skills development, FASSET empowers individuals with relevant qualifications and work experience, while helping businesses remain competitive and compliant. Whether you are starting your career or seeking to upskill your workforce, FASSET offers valuable opportunities to grow and succeed in the finance sector.
Ready to take the next step?
Explore accredited training providers, keep an eye out for learnership openings, and invest in your future today with a SETA course that matches your goals.
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