INSETA bursary project funds VUT students to bridge the scarce skills gap in the insurance sector

By: Puleng Maphisa – 16 March 2023

Inseta Funding

VUT and INSETA delegates

The Department of Accountancy at the Vaal University of Technology (VUT) has identified the need to support their students by finding a sponsor that will award their Advanced Diploma students with bursaries.

On 8 March 2023, the Department of Accountancy hosted an Insurance and Sector Education and Training Authority (INSETA) delegation, Ms Thembi Mahlangu and Mr Vukosi Baloyi, for the implementation of the bursary project. The INSETA is an official education and training authority in South Africa, whose goal is to increase the quantity and quality of critical and scarce skills within the insurance sector.

INSETA provides a range of skill development and training programmes such as bursaries, which for the 2023 academic year has awarded bursaries to students in the Department of Accountancy. The bursary benefit will depend on the number of beneficiaries registered for the Advanced Diploma in Cost & Management Accounting and; the Advanced Diploma in Internal Auditing. The funding includes paying tuition fees, accommodation/transport and book allowances.

The INSETA delegation was satisfied with the project implementation process and efficiency in the project management. All documentation was verified for completeness and authenticity.

The Department of Accountancy is appreciative for the bursary opportunity and acknowledges the partnership with INSETA since 2020 which ranges in millions of Rands. The Executive Dean of the Faculty of Management Sciences, Prof Chengedzai Mafini encouraged the privileged beneficiaries to utilise the bursary remarkably by focusing and excelling on their studies.

Ms Thembi Mahlangu from INSETA emphasised that the continuity of the bursary project with VUT for future years. She was indicated that it is the objective of INSETA to impact on the future of the youth by investing in education.

Department of Accountancy Students: Meluleki Dlamini and Samkelisiwe Nzama

Amongst the beneficiary students were Meluleki Dlamini and Samkelisiwe Nzama who are studying towards Advanced Diploma in Cost and Management Accounting and Advanced Diploma in Internal Audit, respectively. Both students said they were grateful to INSETA, adding that the initiative will be an added advantage to them as they were facing the challenges of paying fees.

“We feel honoured for being amongst the students who will receive the bursary. The 2023 academic year would have been very challenging without NSFAS as we are from underprivileged families but now, we thank INSETA that it will cover our fees no more stress. It is time we put much more effort into our studies” said Samkelisiwe and Meluleki.