Guest Contributor | Oct 5, 2021 | 0
Vocational training levy records N$60 million
The National Training Fund administers and collects funds on behalf of the NTA. It aims for a 100% registration of all levy-paying employers during the 2014/2015 financial year leading to an estimated revenue of N$180 million. However, the Economist established that in the first three months, the revenue collected has already exceeded the targeted income by 22%. After several delays and postponement, the VET levy was eventually introduced from 01 May 2014. The first payment was due on 20 June 2014.
The General Manager of the NTA’s National Training Fund, Mr Joseph Mukendwa revealed this week that 35% of the VET levies will be used for training in identified key training areas. The NTA will train and support individuals in various fields with the agriculture sector having the largest number totalling 300 beneficiaries.
In line with NDP4, agriculture has also been identified by the NTA as the most important sector for the use of these funds in anticipation of a 4% increase in agriculture’s contribution to GDP. The Namibia Agricultural Union said this week in a newsletter, an estimated N$18,5 million is now available from the NTA for training purposes.
This number of trainess is set to grow significantly as a full and comprehensive key priority training implementation plan covering demand-led training in all other sectors of the economy is finalised and implemented.
“Employers forecast their total payroll for the financial period 1st April 2014 to 31st March 2015 and calculate their liability to pay levy and incorporate the projected levy amounts in the initial employer registration form,” Mukendwa said.
“A major innovation of the VET Act is the establishment of an Industry Skills Committees (ISC) as a standing committee reporting to [the fund’s] Board of Directors,” he said. Ten committees are now fully operational namely for mining & quarrying, construction, electricity, gas, water supply and sanitation, tourism and hospitality, financial and business services, agriculture and forestry, fisheries & maritime, health care and social services, transport, warehousing and logistics, wholesale and retail trade, post and telecommunications, manufacturing, automotive sales and arts and crafts.