In terms of the new BEE codes, Skills Development is one of the priority elements. For this reason, companies have to dig deep in their coffers to commit themselves in order to comply.
Fortunately, through SETA Discretionary Funding, which Services SETA and MICT SETA administer, companies will be able to increase their skills development scorecard.
The funding for learnerships will enable companies to hire staff for a period of a year, provide them with a generic qualification, a year’s work experience, and a monthly stipend funded by the SETA, they can choose at the end of the period if they wish to retain the individuals or to terminate their contracts.
