BANKSETA

About BANKSETA

BANKSETA is the Banking Sector Education and Training Authority. It is one of 21 sector education and training authorities (SETAs) created under the Skills Development Act of 1998. Its task is to guide skills development in the banking and microfinance sector. The head office is at Eco Origin Office Park in Centurion, Gauteng.

The money comes mainly from the skills development levy, which qualifying employers pay on their payroll. Part of that levy returns to employers as mandatory grants. The rest goes into discretionary grants, which BANKSETA directs at sector priorities such as bursaries, learnerships and internships. In other words, BANKSETA funds students because the law gives it that job, not because of voluntary corporate giving.

How BANKSETA supports students

BANKSETA bursaries follow the priority and emerging occupations listed in its Sector Skills Plan. These usually include banking, finance, accounting, economics, information technology and related business fields. Its funding windows are open to public universities, universities of technology, TVET colleges and community education colleges. They cover new first-year students as well as continuing students.

As a result, much of the money reaches learners through partner institutions. Two examples linked to this provider are the BANKSETA/CPUT Bursary and the BANKSETA/UKZN Outstanding Student Debt Fund. The CPUT bursary has supported diploma students in areas such as ICT, human resource management, marketing and business administration. The UKZN fund, as its name suggests, targets outstanding student debt.

Bursaries are only one part of the picture. BANKSETA also runs learnerships, including the Letsema and Kuyasa learnerships listed on this site. It supports work readiness, maths and science learners, youth development, adult education, small business support and sector research as well.

The sector it serves is broad. It covers banks, microfinance lenders and related financial service providers. BANKSETA therefore looks at skills needs from several angles. Its programmes have even included disability-focused tracks such as a cybersecurity defender course. Each funding window sets its own list of priority qualifications, so check the current one.

What to know before applying

BANKSETA opens applications in funding windows, so there is no single date that applies every year. Check the Discretionary Grants section of the official website and its careers portal for current calls. Entry requirements depend on the specific window, the qualification and the institution involved. Some awards are handled through the university, which means you may need to apply there rather than to BANKSETA directly.

BANKSETA is not an employer, and public information does not describe a bonded return of service for its standard bursaries. However, learnerships and internships include workplace components with partner employers. Employer-sponsored skills programmes may also expect you to stay with your sponsor after qualifying. Read every agreement carefully before you sign.

Have your certified ID, latest results and proof of registration ready. Start early, because funding windows can close quickly and unsuccessful applicants are rarely contacted individually.