SSP Brochure:Layout 1 - INSETA

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Table 3.7 Qualifications awarded by universities in business, commerce and management sciences according to field of study: 1999-2004Field of study 1999 2000 2001 2002 2003 2004 Average annualgrowth rate(%)*Accounting 5 164 6 748 6 321 7 905 8 123 8 301 10Administrative and Office Services 38 9 12 0 4 1 -52Banking and Finance 271 414 482 461 614 849 26Business Data Systems 164 173 323 204 182 75 -14Entrepreneurship 1 175 1 101 966 684 881 925 -5Information Communications 319 449 478 521 523 284 -2Insurance and Risk Management 44 74 88 108 105 51 3International Business 0 2 4 45 50 63Management 977 1 098 1 916 3 252 3 338 3 856 32Marketing 201 262 364 412 427 667 27Personnel Management and Administration 188 295 395 345 296 359 14Quantitative Methods 46 49 105 50 51 36 -5Real Estate 5 2 4 0 0 7 7Other Business, Commerce and Management Sciences 1 240 1 324 1 395 1 220 977 1274 1Total 9 832 12 000 12 853 15 207 15 571 16 748 11*Unweighted average.Source: Calculated from DoE, HEMIS Table 2.13, 1999 to 2004.Table 3.8 Qualifications awarded by technikons in business, commerce and management sciences according to qualification level: 1999-2004Field of study 1999 2000 2001 2002 2003 2004 Average annualgrowth rate(%)*National certificates and higher certificates 98 193 347 292 339 495 38National diplomas 5 910 5 862 7 718 7 823 7 846 8 210 7National higher diplomas 77 39 52 29 6 37 -14BTech degrees 1 085 1 205 1 629 1 786 1 875 2 184 15Master’s degrees and diplomas 20 41 42 71 64 67 27Doctoral degrees 0 1 5 5 3 5Total 7 190 7 342 9 793 10 006 10 133 10 998 9*Unweighted average.Source: Calculated from DoE, HEMIS Table 2.13, 1999 to 2004The universities of technology do not offer courses specific to the insurance industry. The fields of study that attract the largestnumber of learners are accounting and management. (Table 3-9).Table 3.9 Qualifications awarded by universities of technology in business, commerce and management sciences according to field of study:1999-2004Field of study 1999 2000 2001 2002 2003 2004 Average annualgrowth rate(%)*Accounting 1 846 1 922 3 407 3 381 3 647 3 756 15Administrative and Office Services 493 560 617 870 822 1 402 23Banking and Finance 54 116 43 49 47 75 7Business Data Systems 127 45 50 16 18 0 -100Entrepreneurship 90 69 221 163 197 97 2Information Communications 76 136 155 215 143 71 -1Insurance and Risk Management 0 0 0 0 0 0International Business 24 0 0 0 0 0 -100Management 1 752 1 888 2 804 2 684 2 880 3 265 13Marketing 678 683 731 878 791 928 6Personnel Management and Administration 868 941 953 1 024 895 841 -1Quantitative Methods 81 47 24 55 29 53 -8Real Estate 44 48 34 36 15 36 -4Other Business, Commerce and Management Sciences 057 887 779 637 652 475 -15Total 7 190 7 342 9 818 10 008 10 136 10 999 9*Unweighted average.Source: Calculated from DoE, HEMIS Table 2.13, 1999 to 2004.INSETA Sector Skills Plan - page 27
In respect of the population group and gender composition of new graduates, a marked change has occurred in recent years. In 1992,only 18% of all learners who qualified in business, commerce and management sciences were black. By 2004, 60% of the learnerswere black. Similarly, women’s share in qualifications in this field increased from 39% in 1992 to 53% in 2004. 55The situation with regard to the specific professional qualifications that are relevant to this sector looks somewhat different. Actuarialqualifications are important to the insurance sector (although they are not used exclusively in this sector). Actuaries currently qualifyat a rate of approximately 60 a year, and there are at present some 770 qualified actuaries in South Africa. According to the ActuarialSociety of South Africa, South Africa should have sufficient actuaries (where supply equals demand) in the next five to ten years.However, qualified actuaries are predominantly white men. 56The FPI has some 3 000 certified financial planners as members who have completed the Postgraduate Diploma in Financial Planning(NQF level 7) and some 1 200 members who are currently studying towards this qualification. The FPI also has 4 400 members whohave achieved qualifications at NQF levels 5 and 6. Most of these professionals are white.Chartered accountants also play a key role in this sector. At the end of April 2006, approximately 24 737 chartered accountants wereregistered with the South African Institute for Chartered Accountants (SAICA). In the period April 2002 to April 2006, the totalnumber of chartered accountants increased by 5% a year. This profession also consists mainly of whites and the profile is changingvery slowly. In June 2002, only 7% of all chartered accountants were black. By 2006, blacks’ share in the profession had increased to11%. Of the 9 751 learners on CA learnerships at the end of April 2006, 39% were black. 57c) Projection of new entrants from the public HET sectorThe number of Bachelor’s degrees, BTech degrees and national diplomas provides a measure of the number of new entrants to thelabour market from the public HET sector. 58 Figure 3.6 shows the number of new graduates who qualified between 1999 and 2004,and the number that will qualify per annum if the average annual growth rate is sustained. The HET sector could produce as manyas 132 700 new graduates in the five-year period 2005 to 2009. This, however, depends on a number of factors, including the capacityof the HET sector to sustain this level of growth (especially in the context of the restructuring of HET institutions that is currentlytaking place) and the DoE’s subsidisation of the HET sector.Figure 3-6 Actual and projected entry-level qualifications in business, commerce and management sciences from the public HETsector*Figures projected, using the average annual growth rate observed for the period 1999 to 2004Sources: Calculated from DoE, HEMIS Table 2.13, 1999 to 2004 and own projections from 2005 to 2010.55 SAQA, Trends in Public Higher Education in South Africa:1992 to 2001. Pretoria, October 2004 and 1995 to 2004, June 2007.56 Information obtained from the Actuarial Society of South Africa during the SSP update process in 2007.57 Calculated from information published by SAICA,http://www:saica.co.za.58 No figures are currently available on the output from the private HET institutions.INSETA Sector Skills Plan - page 28
Page 5 and 6: Table 4.4 Scarce skills: clerical a
Page 7: EXECUTIVE SUMMARYBackground and met
Page 10 and 11: How the INSETA addressed Scarce and
Page 12 and 13: 1 PROFILE OF THE SECTORThe insuranc
Page 14 and 15: Table 1.4 Other activities of organ
Page 16 and 17: A major problem in estimating the n
Page 18 and 19: • The fact that the industry has
Page 20 and 21: Figure 1-6 Trends in net premium in
Page 22 and 23: Figure 1-9 Trends in collective inv
Page 24 and 25: additional staff. The technology al
Page 26 and 27: 2 THE DEMAND FOR SKILLS IN THE SECT
Page 28 and 29: 2.3 Employment trends2.3.1 Changes
Page 30 and 31: Competition from other financial se
Page 32 and 33: 3 THE SUPPLY OF SKILLS TO THE SECTO
Page 34 and 35: Table 3.2 Population group distribu
Page 36 and 37: Figure 3-4 Senior Certificate passe
Page 40 and 41: 3.3.3 Further education and trainin
Page 42 and 43: Table 3.13 People to be trained in
Page 44 and 45: • The racial profile of graduates
Page 46 and 47: OccupationPosts difficult to fillSp
Page 48 and 49: Table 4.5 Scarce skills: sales occu
Page 50 and 51: The scarce skills identified in the
Page 52 and 53: Small business opportunity Subsecto
Page 54 and 55: 5.7 ConclusionsThis last chapter ou
Page 56 and 57: ANNEXURE APROFESSIONAL BODIES INTER
Page 58 and 59: Core component of BEE Indicators Ta
Page 60 and 61: Senior managementBlackMaleTOTAL MAN
Page 62 and 63: ANNEXURE ESCARCE SKILLS IN THE INSU
Page 64 and 65: OCCUPATION level ss Specialisation/
Page 66 and 67: OCCUPATION level ss Specialisation/
Page 68 and 69: ANNEXURE FCRITICAL SKILLS NEEDED IN
Page 70 and 71: OCCUPATION level ss52 Personal Assi
Page 72 and 73: ANNEXURE GINSETA BUSINESS PLANINSET
Page 74: The DoL requires all Councils to un

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