Search Results

The Socio-Economic Development element requires an Independent Competent Person to present an Independent Competent Person’s Report to confirm that the requirements of an organisation’s Socio-Economic Development contributions have been met and that a claim is indeed legitimate. As per Schedule 1 a “Competent Person” means a person who has acquired through training, qualification and experience the knowledge and skills necessary for undertaking any task assigned to them under the codes.” An Independent Competent Person must have no conflict of interest when nominated to sign off on an organisation’s Socio-Economic Development initiative. Such a person must have sufficient training and experience or knowledge, as well as other qualities that allow them to assist an organisation in the capacity of an Independent Competent Person. The competence level depends on the initiative's complexity and the requirements of a particular assessment. An Independent Competent Person must have a duty of care to an organisation’s investors. Socio-Economic Development Services are available to assist organisations that wish to confirm the competence of an Independent Competent Person.

From time to time, SANAS publishes a list of B-BBEE Rating Agencies that no longer have SANAS accreditation due to it being withdrawn voluntary or involuntary, or due to its expiry. The core aim of publishing the list is to assist those receiving B-BBEE Certificates in identifying invalid credentials. This list will further assist B-BBEE Rating Agencies when verifying the element of Enterprise and Supplier Development. It is vital to take note of the date of withdrawal or expiry as a B-BBEE Certificate will remain valid for 12 Months if issued before the date that a B-BBEE Rating Agency lost its accreditation. B-BBEE Certificates issued by SANAS Accredited B-BBEE Rating Agencies must contain the unique SANAS Accreditation Symbol to ensure that the B-BBEE Verification Certificate is valid. B-BBEE Verification Services are available to assist members to ensure that they understand the requirements for Valid B-BBEE Verification Certificates.

Ntando Thukwana | 7 August 2023 Employee share ownership trust now owns a tenth of the company. SE-listed cement group PPC has established a new employee trust that has purchased 10% of the company’s share capital and will benefit the group’s subsidiaries operating in South Africa. PPC, with a market cap of around R4.1 billion, said on Monday the newly set up PPC Employee Share Ownership Trust which benefits more than 1 500 employees, will be funded by way of a PPC loan to the tune of R380 million. The group confirmed that it is also spending an additional R975 000 to cover security transfer costs as part of the transaction. While the trust’s objectives are to reward PPC employees for the duration of their employment and replace the company’s previous unwound equity ownership schemes, the programme will be weighted in favour of historically disadvantaged individuals in line with Broad-based Black Economic Empowerment (B-BBEE) policies. The transaction effectively notches up PPC’s B-BBEE status, improving the company’s rating to level 1. Speaking on the deal, PPC group CEO Roland van Wijnen said the transaction provides a meaningful way of rewarding its employees in South Africa who do not participate in PPC’s long-term incentive plan. “PPC has been built upon the shoulders of its employees… We are pleased that the terms of the transaction are such that it stands to benefit employees for many years to come,” he added. As part of the terms of the transaction, the loan will be repaid from future PPC dividends to the employee trust with 75% distributed to the company. The remaining 25% of dividend payouts will be distributed to all qualifying beneficiaries of the trust. “For the foreseeable future, until the loan, including capitalised interest, has been fully repaid, qualifying employees will effectively receive 2.5% of any dividends declared by PPC SA Holdings. Following the repayment of the loan in full, qualifying employees will receive 10% of the dividends declared by PPC SA Holdings,” the group noted. PPC said the transaction, which is not subject to any conditions, closed on 4 August. It added that the gross debt of the consolidated South African operations will not be affected by the transaction. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.moneyweb.co.za/news/companies-and-deals/ppc-in-r380m-empowerment-deal/

Koketso Ratsatsi | 6 August 2023 CHIETA to open third skills centre in northern KZN. The Chemical Industries Education & Training Authority (CHIETA) is on the verge of opening the third SMART Skills Centre in KwaZulu-Natal in a move to bridge the digital divide between rural and urban areas. The minister of higher education, science and innovation Blade Nzimande’s vision to equip the youth in villages in becoming digital savvy saw two of the centres being built in Saldanha Bay, Western Cape, and Gqeberha in the Eastern Cape. The third one will soon be opening its doors in September in Babanango, a small town near Melmoth in northern KwaZulu-Natal. “Access to digital technology in rural SA has been a topic of concern and effort in recent years. Whilst some gains have been made to bridge the digital divide, there is still a great deal of work to be done as research has revealed that access to the internet in rural communities is a very low 1%,” said CHIETA chief executive Yershen Pillay. “Our plan is to establish a SMART Skills Centre in all nine provinces and the CHIETA team is working steadily on this flagship project to usher in a new era of skills development and training. The strategic location of the SMART Skills Centres makes them accessible to remote communities that will ultimately benefit from the digitised training programmes for rural masses and ease the cost burden of transport and data for poor learners,” he said. Pillay said that young people in remote areas are at a disadvantage of not gaining any skills and knowledge in the 4IR world, which are essential for future careers. “With rural communities unable to function in a Fourth Industrial Revolution (4IR) world, the impact will be felt with job losses and increased unemployment due to a deficiency of the necessary and potential technical skills.” “This statistic affirms the extent to which young people living in rural reaches of the country are at a disadvantage in terms of gaining skills and knowledge that are critical to future careers across a broad range of sectors and the chemical industries sector is no exception,” Pillay said. CHIETA hopes this initiative will contribute towards advancing rural communities’ employability within various economic sectors, as it will enable skills development in line with the demands of emerging technologies and the 4IR. More recently, CHIETA signed a memorandum of understanding with the South African Forest Company Limited (Safcol) that will result in the construction of the first-ever eco-friendly SMART Skills Centre made entirely from timber. The centre will be situated in the Sabie area in Mpumalanga. “Whilst our determined and steadfast approach to making the SMART Skills Centres a reality has been a key success factor, it is important that we recognise the important role played by the numerous partners that have worked closely with us in the successful establishment of the centres to date. “This serves to highlight the important role of partnerships in addressing the skills development challenges in the country. And we are only just getting going,” said Pillay. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.sowetanlive.co.za/news/south-africa/2023-08-06-training-authority-surges-ahead-with-mission-to-help-rural-youth-become-digitally-savvy/

Edward West | 7 August 2023 The Competition Commission said Friday it has recommended to the Competition Tribunal that the proposed acquisition by Petrefuel of Royale Energy be approved, with conditions. Petrefuel Holdings (formerly known as Petre Moya Holdings) is controlled by Petredec South Africa Holdings. In South Africa, Petredec Group is a non-refining wholesaler and distributor of refined fuel products namely petrol, diesel, lubricants, illuminating paraffin, and liquefied petroleum gas (LPG). It also has petrol and diesel storage facilities. Royale Energy is controlled by Royale Energy Group, a non-refining wholesaler and marketer of refined fuel products (petrol, diesel, illuminating paraffin, lubricants, and LPG) in South Africa. Royal Energy also operates small petrol and diesel storage facilities. To address employment concerns, the companies agreed not to retrench any South African employees as a result of the merger, for three years. To promote a greater spread of ownership, the parties said they would establish an employee share ownership programme for qualifying employees. The companies would also assist independent historically disadvantaged persons who were owner drivers, and who meet certain qualification criteria to purchase fuel tanker vehicles as part of an enterprise and supplier development initiative. The merging parties also undertook to establish an education fund, in accordance with specific design principles, for the benefit of qualifying workers. The Commission said the proposed transaction was unlikely to result in a substantial prevention or lessening of competition in any relevant markets, and there were no other public interest concerns. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.iol.co.za/business-report/companies/petrefuel-acquisition-of-royale-energy-approved-with-conditions-ee05a68f-123d-4d8c-82c6-bce4386897a4

Siyabonga Sithole | 4 August 2023 Johannesburg - Gauteng Premier Panyaza Lesufi has partnered with food delivery service Uber Eats to create 10 000 jobs for South Africans. Lesufi, who has been dishing out jobs through the Nasi iSpani programme for the better part of the year, says he has secured a deal to train and provide food delivery motorbikes to at least 10 000 people. He is expected to announce this programme at an event to be held at Chris Hani Mall in Katlehong on Friday. Last week, Lesufi came under fire from EFF leader Julius Malema, who accused him of using these programmes to hire ANC volunteers and bribing young people with flimsy jobs. This came after Lesufi vowed to recruit unemployed people every month until July 2024 while speaking at Orlando Stadium in Soweto, where thousands of young men and women received employment opportunities. During this event, held just two days before the EFF’s 10-year anniversary at FNB Stadium, Lesufi handed out an additional 6 000 appointment letters to young people to be trained as solar panel technicians. "The Gauteng Department of Economic Development has concluded a groundbreaking strategic partnership with Uber Eats South Africa. The partnership is meant to unlock several opportunities as well as create direct jobs for the youth in the province. Secondly, the partnership will also unlock direct last-mile delivery employment opportunities for fleet managers as well as direct employment for the youth," Lesufi said. It is reported that Uber Eats will invest more than R200 million in this venture along with the provincial Department of Economic Development for the expansion of township e-commerce footprints and access to new opportunities. Last week, Lesufi said he was undeterred by the criticism of this programme, saying the provincial government would not back down from its promises. The Nasi iSpani recruitment programme has employed at least 40 000 people to work as crime prevention wardens, waste management collectors, and now solar panel technicians. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.iol.co.za/the-star/news/lesufi-partners-with-uber-eats-for-10-000-jobs-programme-6f42b969-8f40-45de-b0ac-68049508eab2

Tasneem Bulbulia | 3 August 2023 Private sector jobs engine the Youth Employment Service (YES) and the University of Johannesburg (UJ) have committed to collaborate on a range of initiatives to provide skills, training and entrepreneurship programmes for South Africa’s youth. Through UJ’s Johannesburg Business School Centre for Entrepreneurship and Institute for Intelligent Systems, YES Youth will have access to UJ’s portfolio of massive open online courses (MOOCs) in the fields of entrepreneurship and artificial intelligence. The two entities are also jointly establishing start-up incubation programmes for youth who have successfully completed the YES Siyazakhela Entrepreneurship training programme. Currently, all YES Youth have access to the Siyazakhela-accredited training through the zero-rated YES phone app. Beneficiaries of this partnership will include all active YES Youth, as well as YES alumni who have completed their employment term through YES. YES is a private-sector initiative focused on promoting social mobility. It works with businesses to place or sponsor unemployed youth in 12-month quality work experiences that are fully funded by the private sector, giving them the quality work experiences and skills that they need to secure future employment. These include placements into various high-impact sectors like global business services, creative, drones, tourism, digital and mining. YES has created over 116 000 work experiences in the past four years. In addition to enabling YES Youth to access UJ’s online AI training courses, UJ and YES are jointly creating a broader Fourth Industrial Revolution (4IR) training programme to ensure that South African youth possess the necessary digital skills and insights they need to thrive in the modern workplace. The programme will include an entrepreneurship stream that supports enterprising YES Youth to leverage AI technologies to build innovative and resilient businesses based on the latest technologies and business models. Speaking at the signing of a memorandum of understanding, UJ vice-chancellor Professor Letlhokwa George Mpedi said the two bodies were already actively exploring ways to collaborate to achieve their respective mandates and objectives. “As a university, we don’t only want to graduate job seekers. We want to graduate job creators. UJ is ranked first in South Africa in terms of our impact and second in Africa’s higher education rankings, so entrepreneurship is extremely important to us. We look forward to working with YES to confront one of the biggest challenges facing our country right now,” said Mpedi. YES CEO Ravi Naidoo said the two parties shared a common purpose of societal impact, and the partnership would provide “significant synergies” in the drive to increase youth employment levels in South Africa. “One of the most important foundations for our country’s future is the youth – and the biggest endowment we can give them is skills, training and experience that are not only already in demand today, but that will also serve them well into the future. “What’s exciting for us is that UJ has a clear vision for preparing its students for the future through its in-depth expertise in areas like AI and technologies that support the 4IR,” Naidoo averred. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.engineeringnews.co.za/article/yes-uj-partner-to-tackle-the-countrys-youth-unemployment-crisis-2023-08-03

SA Gov | 3 August 2023 Auditor General grants NYDA 2022/2023 clean audit outcome. The NYDA is pleased to announce a ninth consecutive clean audit report from the Auditor General of South Africa for the 2022 / 2023 financial year. Upon the appointment of the first ever in history, female-led NYDA Board in December 2021, the NYDA has continued to meet its planned targets. Understanding the importance of good governance, the Board has committed to ensuring that the agency continues to perform and yields its mandated and desired outcomes. Irregular and fruitless and wasteful expenditure The NYDA has also achieved zero irregular expenditure in the 2022 / 2023 financial year. Achievement of Key Performance Indicators The Agency proudly achieved all 29 out of the 29 planned targets for the financial year which were set by its Executive Authority and approved by the Parliament of South Africa. Such performance therefore translates to a 100% performance achievement. Key highlights of the agency’s performance achievements include R219 million in additional donor funding raised from various stakeholders in the public and private sector. Other highlights are as follows: Youth entrepreneurship Over 34 000 young people have been supported through non-financial business development interventions. Over 2 300 youth-owned enterprises in the township and rural economy provided with grant funding to start up their businesses through the NYDA Grant Program. Over 6500 jobs have been collectively created and sustained by our funded youth-owned enterprises. Revitalised National Youth Service One of the core deliverables of the Presidential Youth Employment Intervention which is a signature program of the sixth administration was the revitalisation of the National Youth Service program implemented as a collaboration of the Presidency, NYDA and the Jobs Fund. During the 2022 Youth Day Commemorations President Ramaphosa announced the launch of the revitalised National Youth Service in the country. To date, we are proud to announce that close to 48 000 young people have participated in the revitalised NYS with over 10 000 having already transitioned into longer term more sustainable employment and enterprise activities. Young people are engaged in community service activities in sectors such as Surveys and Digital Mapping, Sports and Recreation, Arts, Culture, Entertainment, Food Security, Child Nutrition, Learner Support Programmes, Social Support Services, Solidarity and Care, Community Works, Revitalization, Early childhood development/ Early Learning, etc. The young people recruited through the program will have an opportunity to serve their communities for 16 hours per week, earning at the National Minimum Wage for them to pursue other prospects post the program while learning new skills. Through the National Youth Service (NYS) programme, young people will be engaged in Community Service activities The primary aim of the NYS programme is to mobilise young people to become active citizens of the country’s democracy, while earning an income and increasing their employability. The purpose of the Community Service activities as envisaged for the NYS programme is also to enhance service delivery efforts and improve the lives of marginalized communities. The NYDA has since published the call for proposals for the second round of the National Youth Service program and would like to encourage civil society to apply for participation in the program. Integrated Youth Development Strategy The NYDA is also pleased to report that after a thorough consultation process comprising of young people, business, government, Parliament, civil society and organised labour, the first Integrated Youth Development Strategy was approved by Cabinet on the 15th of June 2022. The Integrated Youth Development Strategy (IYDS) is aligned to the National Development Plan and the National Youth Policy 2030. The NYDA has published in the financial year 2022 / 2023 both the second progress report on the IYDS as well as the Status of the Youth Report. The Integrated Youth Development Strategy (IYDS) seeks put young people at the heart of the country’s development agenda. The strategy creates a framework where all youth related work in South Africa can be coordinated and linked, to build relationships, foster information-sharing, avoid duplication and ultimately maximize impact. The strategy has five key pillars which include economic transformation, education and skills development, health, social cohesion, and an effective youth development machinery. In the main the IYDS will aim to drive accountability in the system through ensuring that government meets its commitments to young people. Closure of the NYDA’s loan book Given that the NYDA was no longer providing new loans and had moved to a grant-based model since 2014, the fourth Board of Directors of the agency, building on the work of previous Boards aimed to bring to a conclusion the loan book of the NYDA. Therefore, the Board guided by processes in the Public Finance Management Act, which has been tested through a rigorous audit procedure can confirm the following about the R384.2 million loan financing: R230.6 million (60%) was collected. R153.6 million (40%) has been converted to grant finance. The collected amount is in line with best practices for development finance institutions. This is a significant decision which aims to lessen the burden on youth who already face a myriad of challenges and closing the historical loan book of the Agency. It responds to the need to have more young, African entrepreneurs who can start and scale enterprises to address the high levels of unemployment without the burden of debt. Provincial commitments towards youth The Agency commends the Gauteng Provincial Government for the progressive and intensive campaign on employment of youth and calls on other Provinces to follow suit in the prioritisation of youth employment. Future of the Presidential Youth Employment Intervention (PYEI) The PYEI is South Africa’s most comprehensive e­ffort to address youth unemployment to date. Its goal is to enable more young people to move from learning to earning. It seeks to coordinate, accelerate, and enhance existing programmes as well as unblock pathways to employment, training, and youth enterprising. The NYDA is currently making requests to National Treasury to prioritise the extension of the PYEI over the Medium-Term Expenditure Framework. This statement comes against the backdrop of the serious economic and social challenges faced by the country and fiercely compounded by the Covid-19 pandemic and increasing cost of living crises. Young people excessively bear the discomfort of these economic and social challenges. Youth unemployment remains one of the foremost challenges that a democratic South Africa faces. We must therefore rally behind the economic recovery plan announced by government and ensure that young people are placed front and centre of the plan. Equally, it is our duty to address the systematic and structural challenges that have created South Africa’s unemployment challenge which continues to perpetuate poverty and inequality. The Board of the NYDA expresses its appreciation to the Executive Authority, Portfolio Committee on Women, Youth, Persons with Disabilities, Management and all NYDA employees for their efforts, oversight, and support in achieving another clean audit outcome. Media enquiries: Ms Bongekile Skosana E-mail: Bongekile.Skosana@nyda.gov.za(link sends e-mail) Cell: 082 269 9246 ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.gov.za/speeches/auditor-general-grants-nyda-20222023-clean-audit-outcome-3-aug-2023-0000

Londiwe Dlomo | 3 August 2023 ‘The role of the black woman is at the forefront of the economy’. As we enter Women’s Month, there will be many talks and thought-pieces on women in this country, especially entrepreneurs. Sadly, women entrepreneurs globally still do not receive funding at the same rate as their male counterparts. In spite of this, they are making headway, especially in traditionally male-dominated fields such as construction and mining. In these and other industries, women are leading transformation and spearheading the shift towards gender equality and empowerment, as well as helping to create more inclusive and equitable workplaces. Support for women-owned businesses is important and holding the state to its promise to further and support those behind them is required. This Women’s Month, put your money where your mouth is, government. South African women have huge entrepreneurial spirit, from those who sell vegetables on the streets to women in corner offices who’ve started or are running companies. There are many success stories, and if you’re an aspiring entrepreneur, here are four women who could ignite your entrepreneurial flame. Praisy Dlamini, GM and winemaker of HER Wines, says she saw a gap in the market for an all-female, all-black business that could combine women's skill sets to offer a unique proposition, a wine brand women could be proud of. The business, HER Wine, is named for all the women — sisters, mothers, daughters and grandmothers — who go out into the world to make their mark. “We are a group of trailblazers, growing a business in uncharted territory. We’re passionate about investing in more young women who will be pioneers in their fields while they inspire others to reach higher and wider,” says Dlamini. The team strongly believes in giving back, with the company pledging to contribute 2% of its profits to a scholarship fund that enables young, talented and driven individuals to achieve their dreams through the HER Wine Collection Bursary. The first two scholars to receive funding have started their journey and will be mentored by the HER Wine team. They will learn critical skills about starting a business and overcoming the challenges associated with entrepreneurship. GET YOUR BEAUTY FIX After the success of her online beauty story, Beauty on TApp, Mathebe Molise launched her first store in April. The company, founded in 2015, is a deliberately curated one-stop shop for in-demand, affordable beauty products, providing customers with a range of skincare, haircare and makeup offerings. The store, in Midrand's Mall of Africa, is testament to how a loyal customer base can do wonders for a business. TAKE ON THE BOYS Tebogo Mosito, founder and CEO of Ditsogo Group, and Andiswa Xozwa, founder and CEO of Okuhle Project Management, were both finalists in the Veuve Clicquot Bold Woman Award 2023. Mosito grew up in a rural village in Rustenburg, North West, near the platinum mines, and her interest in the mining industry started at a young age. Entering an almost exclusively male-dominated sector did not deter Mosito; rather, it ignited a tenacity to create viable and safe opportunities for women to add value to the industry. “As a woman you need to prove yourself twice to show you are capable,” says Mosito. For more than a decade, Mosito has managed a steel engineering and mining services company, steering it to success. She takes great pride in the business, which boasts a 100%-black, female-led foundation. Fostering a network of women, united in support and mentorship, Ditsogo enables collective growth and empowerment. Xozwa’s team at Okuhle Project Management is 70% black women. The business delivers infrastructure services to marginalised communities and fosters a holistic cycle of upliftment by actively engaging black, women-owned subcontractors and suppliers. “My goal is to show young women that even when coming from the dusty streets of Daveyton on the East Rand, it can be done. The role of the black woman is at the forefront of the economy and we must be brave in assuming these positions,” says Xozwa. Operating within infrastructure development in the construction industry, her most significant accomplishment is in her role as a catalyst for transformative change. Her commitment to skills transfer within communities has become the cornerstone of her company. By prioritising increased participation and the empowerment of women and youth, she has flipped the traditional narrative, paving the way for a brighter and more inclusive future in the industry. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.timeslive.co.za/news/2023-08-03-four-entrepreneurial-trailblazers-women-can-emulate/

Philippa Larkin | 3 August 2023 Minister for Small Business Development Stella Ndabeni-Abrahams yesterday paid tribute to Pheliswa Mthethwa for a sterling tenure as the CEO of the National Empowerment Fund (NEF). This as Mthethwa will be vacating the helm of the development financier when her contract ends in December 2023 after having driven the growth and institutional maturity of the entity whose legislated mandate is to grow black economic participation across South Africa. Mthethwa takes the final bow from the development financing stage, leaving behind a healthy organisation, which has approved more than R13.75 billion in investments for black entrepreneurs and R12.6bn in company investment to support emerging black industrialists, created over 124 276 jobs and put together 8679 public engagements on how to save and invest mainly in poor black townships, rural areas and even in cities. Mthethwa said, “As I serve out the final phase of my stewardship as CEO of the NEF, we look back with a degree of contentment over the many milestones we have spearheaded across different sectors of the economy, and with great hope for the period ahead. “I am humbled to be handing over an organisation that has secured clean external audit opinions for 20 consecutive years, attesting to the NEF’s integrity and commitment to good governance. It has been a privilege to play a part in providing investor education, business planning support, entrepreneurial training, incubation support, mentorship and funding to black youth, women, SMEs and black industrialists in villages, townships and peri-urban localities.” Mthethwa has not revealed her future plans, preferring to “dedicate my last remaining months to help the organisation find a leader of the future so that the NEF may continue to light the path in the quest for inclusive growth and economic justice”. Mthethwa has collected a long list of accolades, chief amongst them being named 2019 CEO of the Decade by Association of Black Securities and Investment Professionals (ABSIP), 2017 Woman of the Year, also by ABSIP, and 2011 Corporate Businesswoman of the Year (Africa Investor). Ndidi Mpye, the NEF trustee and chairperson of the Board Audit Committee, said, “Mthethwa has been instrumental in driving the institutional maturity of the NEF. It is her diverse knowledge of banking, capital markets and international investment that helped grow the NEF into a high-performing organisation, one whose integrity is exemplified by 20 years of uninterrupted clean external audits. Today the NEF is an authority on the development of black industrialists, rural and township development, women empowerment, enterprise and supplier development, among others, which are some of the areas that the CEO has been passionate about.” Lucretia Khumalo, the divisional executive for Client Support and Growth at the Industrial Development Corporation (IDC), NEF trustee and chairperson of the Board Risk and Portfolio Management Committee, said: “Part of Mthethwa’s legacy is her commitment towards the advancement of black women professionals and entrepreneurs, whether in her role as a non-executive director at the IDC, or at the NEF. Her own accomplishments have served as an example and as an inspiration in our country’s quest for redress and growth with women at the forefront.” Buhle Hanise, the president of the African Women Chartered Accountants (AWCA) said: “For many years the NEF has been a close partner of AWCA, actively supporting our skills development programme towards the education and training of African women CAs, especially from rural areas. “Mthethwa’s leadership, personal involvement and commitment to this strategic objective has been phenomenal. This is one of the many reasons why AWCA has awarded and recognised Ms Mthethwa as a Woman of Substance and as luminary in advancing entrepreneurship, transformation, skills development and the economic empowerment of black women,” Hanise said. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.iol.co.za/business-report/economy/nefs-ceo-mthethwa-bows-out-at-end-of-year-after-sterling-tenure-5d2156c5-5b83-4162-a490-c57851ae9c8b

Schalk Burger | 1 August 2023 Financial services firm Nedbank has encouraged the 2 782 young people who will participate in a year-long internship programme to make use of the opportunity to learn new skills and develop themselves for their professional careers. Nedbank and its partners have provided these workplace learning opportunities as part of the private sector-led youth employment programme Youth Employment Service (YES). "Each of you have shown determination, resilience and unwavering spirit to be here, which are important attributes for continuing success. Each of you has been selected from more than 70 000 applications for these year-long internship positions," Nedbank Group human resources executive Deborah Fuller said this week. The YES initiative helps to improve the lives of youth in South Africa. Nedbank's role is to use its expertise as a financial services firm to improve the lives of individuals, stakeholders and society at large. "You are beginning your journey with Nedbank and partners that will help you to gain critical work experience on the road to a successful career in years to come. Nedbank emphasises the growth of employees and development of their careers as part of our employee value proposition. "Therefore, I urge you to take initiative, demonstrate proactivity and seek out additional tasks on projects. Seek guidance, ask questions and learn from the expertise of others to improve your skills and how you complete tasks," Fuller said to the new cohort on July 31. She urged the youth to take advantage of the learning opportunities and the professional development opportunities made available to them through the initiative, which would stand them in good stead in their careers beyond this coming year's learnership. Meanwhile, YES CEO Ravi Naidoo gave the young interns advice on leveraging the YES initiative's 35 mobile app learning modules – a new artificial intelligence (AI) training module will also be added within the next month – to develop their skills. Each module that an intern completes is automatically reflected on his or her reference letter at the end of the internship period, he highlighted. "We are looking to ramp up this part, and the more that you do, the more is reflected on the reference letter," he encouraged the youth. The YES initiative has put 32 500 young people through its programmes during the 2022 to 2023 period and has put 117 000 youth through private sector workplace experience and learning programmes since its establishment in 2019. "There are 1 517 companies, including Nedbank, that are part of the YES initiative, making it the largest social impact programme for jobs led by the private sector," Naidoo noted. The overarching aim of the initiative is not only to support the sustainable growth of companies and their talent pipelines, but also for youth to use the skills they develop to help their communities and play a key role in developing the country, he emphasised. "You are the game-changers that we need to help the country. This is why the private sector is willing to fund such programmes and support more people being placed into jobs in the private sector." While about 40% to 50% of youth who complete YES programmes find jobs within a year or two, 10% to 20% set up their own businesses after the programmes, further positively impacting the country. "It is important for each of you to demonstrate that you are willing and able to learn. It is also important to find a passion for the work, and even jobs that may not seem to be the most exciting still make an impact and difference on people's lives, and it is important to identify the aspects that you enjoy or motivate you and to learn more about them," he said. Naidoo further encouraged the youth to engage with their mentors, managers and team leaders about what they aim to gain from the year-long internship, as the young interns can use learning resources from other partners in the YES programme, such as software multinational Microsoft's courses. "Everyone in the YES programme, for example, can access Microsoft's coding, basics of AI programmes and coding certification, which we offer for free to youth in the programme. "Use the [internship] opportunity to learn about and identify what you want to gain from the programme. Communicate your aims to colleagues, mentors and managers who, if they cannot support you, can often refer you to someone who does have the expertise or experience to help," Naidoo encouraged the youth. "Intentionality is important and you must think about what you want to achieve in this programme and work to achieve it. Being known as someone who is proactive, who can get the job done and who is useful is an asset, not only in your work but throughout your career," he said. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.engineeringnews.co.za/article/nedbank-encourages-yes-interns-to-seize-development-opportunities-2023-08-01

Antony Sguazzin and Monique Vanek | 2 August 2023 Unemployment in SA is already among the highest of more than 80 nations. South African business leaders told President Cyril Ramaphosa that the jobless rate could rise to 38.1% by 2030 without urgent action to solve the country’s energy, logistics and crime crises. The forecast, which compares with a current unemployment rate of 32.9%, was included in a presentation made by business groups in a meeting with Ramaphosa on Tuesday. It was based on an average economic growth rate of 0.75% if no progress is made on those three impediments. Unemployment in South Africa is already among the highest of more than 80 nations tracked by Bloomberg. South African business groups are working with the government to try and arrest the slump in energy provision and the deteriorating rail and port services. Those issues, coupled with rampant crime and corruption, are crimping growth in the continent’s most industrialized economy. If the constraints were successfully addressed the business groups, collectively known as B4SA, forecast economic expansion would average 5% and unemployment would decline to 28% by 2030. In a 23-slide presentation sent to Bloomberg, more than 115 businesses operating in South Africa listed a host of measures Ramaphosa will need to address to kick-start the stagnating economy. The presidency, together with B4SA and Business Unity South Africa, in a joint statement Tuesday announced progress made in introducing some of the initiatives to revive the floundering economy and restore investor confidence. The measures include: Technical support from business on optimizing the diesel supply chain at the Ankerlig power station Supporting the return of additional units at the Kusile power plant and four key stations and helping their managers with turnaround plans at those facilities Business technical teams working through the National Energy Crisis Committee to assist in planning for efficient grid access and expansion. All these interventions aim to recover about 5.4 gigawatts over the next year Setting up four so-called corridor recovery teams to focus on constraints in commodity-export supply chains in coal, iron ore, manganese, chrome and magnetite Creating a joint initiative against crime and corruption, with senior representatives from law-enforcement agencies and business Setting up a special purpose vehicle for establishing digital and data forensic capabilities for the nation’s prosecuting authority on an arm’s length basis Initiatives to support the police to aid crime detection and response ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.moneyweb.co.za/news/south-africa/sa-jobless-rate-could-hit-38-1-businesses-tell-ramaphosa/