BANKSETA has allocated R13.7 million to Durban University of Technology (DUT), significantly enhancing opportunities for students to gain practical work experience through internships. Picture: Dr Themba Msukwini
In a positive step towards addressing the skills shortage and high graduate unemployment in South Africa, the Banking Sector Education and Training Authority (BANKSETA) has allocated R13 790 700 in funding to assist Durban University of Technology (DUT) students in completing their Work Integrated Learning (WIL) and graduate internships.
This funding aims to provide essential support for students transitioning from academic study to the workplace, offering them the practical experience needed to thrive in their chosen fields.
From 2013 to 2023, BANKSETA approved R22 912 071 for similar purposes at DUT, with this year’s allocation alone surpassing previous totals.
Dr Themba Msukwini, acting director of the co-operative education unit at DUT, which is responsible for securing workplace internships for students, highlighted the significance of this funding.
“This is attributed to the mutually beneficial partnership with BANKSETA and the maintenance of good relationships,” he stated.
Dr Msukwini explained that the Co-operative Education unit had engaged with Sector Education and Training Authorities (SETAs) to secure funding for student stipends during workplace training, submitting a business case that underscored the urgent need for skilled professionals in both the public and private sectors.
The funding is particularly focused on areas where there is a critical shortage of qualified individuals, either due to a lack of skilled people or because available candidates do not meet employment criteria.
Dr Msukwini noted that students completing their WIL or internships would gain invaluable experience, helping them to prepare for the demands of the job market.
Expressing his gratitude for the funding, Dr Msukwini said, “This will give the students an opportunity to be exposed to challenging experiences related to work and starting their career plans during studies.”
He added that the financial support would aid in developing programmes tailored to meet the needs of commerce, industry, and the public sector, ultimately benefiting society and improving job prospects for graduates.
Looking ahead, Dr Msukwini expressed eagerness to personally thank BANKSETA officials for their continued support. BANKSETA will also participate in the upcoming World of Work (WOW) Careers Fair 2024, hosted by the DUT Co-operative Education unit.
The event, scheduled to take place from August 21 to 23, 2024, will be held at the Fred Crookes Sport Centre on the Steve Biko campus in Durban and at the Indumiso campus hall in Pietermaritzburg.
IOL