South Africa has been experiencing a severe financial skills shortage, which is evident in the thousands of vacancies in both the public and private sectors, which hampers the country's economic growth and productivity.
Three years ago, the South African Institute of Chartered Accountants (SAICA) pegged the number of vacancies at 22 000, and this number has continued to grow.
The public sector in particular has been hit hard, with over a third of its financial positions being vacant, according to the Association for Accounting Technicians SA.
"Never before has our country experienced quite the financial skills shortage we're currently observing," says Dr Deon van der Merwe of the Open Learning Group (OLG). "That is why we are so excited about initiatives such as the new Phadisa Academic Programme, which aims to help close this particular skills gap."
Future Creation, in partnership with S & T School of Accounting, FASSET, the North-West University, and the Open Learning Group, launched the Phadisa Academic Programme - a university preparatory programme for students who plan to embark on higher education studies in the field of commerce.
"The meaning of the word Phadisa is 'strive to excel', which is exactly what we are encouraging the students to do," says Tracy Hammond of Future Creation. "All these learners need is a helping hand, so we are excited about the Phadisa Academic Programme and the doors it will open for them in the future."
The Phadisa Academic Programme is being managed by Future Creation in partnership with S & T School of Accounting, and is funded by FASSET (the SETA for finance, accounting, management consulting and other financial services).
Phadisa will provide 55 unemployed school leavers, who have graduated from grade 12 with mathematics as a subject, the opportunity to take part in an eight-month programme that aims to prepare these students for the demands of higher education studies.
FASSET has sponsored various work-readiness programmes over the years, and for the first time there is a much needed shift towards sponsoring high school graduates in order to equip them with the necessary academic, personal and social skills that they need to be successful with their studies in commerce at higher education institution level.
At this time of the year, many high school graduates have started embarking on their tertiary study path. But, in many cases they are inadequately prepared for tertiary studies, or might not have been admitted to a higher education institution for various reasons. However, alternative pathways - such as the Phadisa Academic Programme - do exist, especially to assist those students who demonstrate an aptitude and interest in the commerce and finance fields.
Through a partnership between the North-West University (NWU) and the Open Learning Group, students are offered a Bachelor of Commerce university preparatory programme (UniPrep). This programme consists of core academic modules offered by the North-West University (NWU) and these are complemented by academic development skills modules developed by the Open Learning Group.
Launched in 1997, OLG is an accredited distance learning education and training provider that has been providing affordable academic and vocational education to a large portion of this country's students, with its focus being on opportunities that are tailored for the needs of youth and the job market.
For more information on further study pathways offered by the Opening Learning Group, please visit www.olg.co.za or call (011) 670 4850.
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