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Partnership to provide financial management training to EC schools

The Eastern Cape Department of Education, in partnership with the South African Institute of Chartered Accountants (Saica) and the BankSeta, has launched a pilot project to ensure sound financial management in 50 Eastern Cape schools.
From L-R: Mr R Zwane, Saica Senior Executive: National Projects; Mr GD Fundile, MEC of the EC Department of Education; Mr T Kojana Deputy, Director-General: School Infrastructure Management; Ms T Futshane Chief Director: Institutional Management, Development & Governance; and Mr M Mancoko: Acting Director: Institutional Support and Governance

Eastern Cape MEC Fundile Gade said that the project follows an intense training of 50 officials in financial management and auditing. He was speaking at the official launch event held at the East London Education Leadership Institute in East London.

Saica senior executive: national projects, Robert Zwane explains the project in more detail: “One of the things Saica prides itself on is delivering excellence in the public sector. When schools apply proper financial management and minimise losses, they get maximum benefit from their funds and the results are visible in the learners’ academic success. It is for this reason that our partnership with the Department of Education exists. This project, which is currently running in the Eastern Cape, Gauteng, KwaZulu-Natal and Western Cape, will help to secure the well-being of learners by directly ensuring that resources are allocated in relation to the actual education needs of learners. While still in a pilot phase, our objective is to expand this project to every public school in the country.”

The 50 officials trained by the Buffalo City TVET College and Lovedale TVET College, will be dispatched to various schools in the following districts, namely Buffalo City Metropolitan, Chris Hani East and West, Alfred Ndzo East, OR Tambo Coastal, Alfred Ndzo West, OR Tambo Inland, Nelson Mandela and Amathola.

The officials will be on site at these schools for a period of 18 months to help improve schools’ finances. Additionally, these officials will also work with school governing bodies (SGBs) in a bid to develop better financial management in schools and to ensure that the financial affairs of schools in the province are overseen effectively and efficiently. The project will assist upskilling and mentoring SGBs and ensure that schools' financial decisions are made in the best interests of learners. By law, every public school in South Africa must have an elected SGB to run their school's finances.
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