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W&RSETA records five-year high performance at AGM
he W&RSETA 2021 Annual General Meeting on 11 November
T2021 was a proud moment for the SETA to share the good story
of skills development in the Wholesale and Retail Sector during
the 2020/21 financial year. Held virtually from Gqeberha in the
Eastern Cape, the W&RSETA presented its report of improved
performance and the second successive audit report from the
Auditor-General South Africa.
Tom Mkhwanazi presented the 2020/21 Annual Report
The CEO, Tom Mkhwanazi presented the Annual Report and
announced an increase in the SETA’s performance from 67% in
the previous year to 86.6% and an unqualified audit report. He
also highlighted the 7 key priorities that informed the W&RSETA’s
45 reprioritised performance targets. “Due to the four-month
skills levy ‘payment holiday’, the W&RSETA’s total skills levy was
reduced by R377 million, and the SETA had to rely on investments
to supplement the shortfall,” said Mkhwanazi.
Reggie Sibiya chaired the AGM
A financial overview by the Acting CFO Lindiwe Nhlapo
Board Chairperson, Reggie Sibiya presided over the meeting and Presenting the Annual Financial Statements, the Acting CFO
acknowledged the support of the Minister of Higher Education and reported that the total revenue had decreased from R1,3 billion
Training, Dr Blade Nzimande and the contribution of the W&RSETA in 2019/20 to R931.6 million in 2020/21 due to the four-month
stakeholders in enabling the SETA to execute its mandate. Sibiya Skills Development Levy payment holiday that was announced by
presented his report for the 2020/21 financial year with an government in response to the impact of COVID-19. The SETA
overview of governance matters. He made a commitment that the had reported a decrease in Discretionary Grant expenditure.
Board would ensure further improvement to delivery despite the Despite the unfavourable financial climate, the SETA continued as
challenges of the COVID-19 pandemic. a going concern.
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W&RSETA | November 2021
