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- STUCK IN LIMBO: MENTAL HEALTH AND UNEMPLOYMENT AMONG SOUTH AFRICA’S EDUCATED YOUTH
Naledi Ramontja | 4 February 2025 The mental health struggles of South Africa’s youth extend far beyond matric results. They encompass unemployed graduates, rural youths and young people in townships who face relentless hardship, leaving little room for optimism. (AFP) A few weeks ago, the 2024 matric results were released, a pivotal moment for thousands of learners across the country. For some, it is a time of celebration, the culmination of years of dedication, and the gateway to future opportunities. Yet, for others, particularly those whose results fell short of expectations, it is a time of despair, a harsh reality amplified by the country’s deep socio-economic inequalities. However, the mental health struggles of South Africa’s youth extend far beyond matric results. They encompass unemployed graduates, rural youths and young people in townships who face relentless hardship, leaving little room for optimism. For many matriculants, receiving their results is the beginning of an uphill battle. Those who did not achieve the marks they had hoped for often spiral into shame, anxiety and uncertainty about their future. Without adequate support systems in schools and communities, these students are left to navigate feelings of failure alone, a struggle that is even more acute in under-resourced rural settings and township communities where opportunities are scarce. University graduates fare no better. Armed with qualifications and the ambition to change their lives, many find themselves sitting at home, unemployed in an oversaturated labour market that is unable to absorb them. This stagnation exacts a psychological toll, particularly for those burdened with student loans. The inability to make payments while jobless, exacerbated by rising interest rates, deepens their sense of despair. Even more disheartening, some graduates have their qualifications withheld by universities due to unpaid fees. Without their certificates, they are locked out of job opportunities that could allow them to settle their debts. It’s a cruel paradox — needing a job to pay off fees but being unable to secure one without proof of qualifications. This leaves many young people feeling trapped, hopeless and powerless. The issue extends even to highly qualified professionals. We’ve seen in recent news protests by doctors and pharmacists — careers typically associated with job security — who remain unemployed. Over 2 000 qualified pharmacists are reportedly sitting at home while South Africa’s healthcare system struggles with shortages. For young people pursuing these degrees, the realisation that even the most qualified professionals face unemployment raises serious concerns about their future. It sends a discouraging message that the sacrifices of time, effort and financial investment in higher education may not pay off. The challenges are even more pronounced in townships and rural areas, where youth face additional hurdles. The lack of access to mental health resources, coupled with high levels of unemployment, poverty and crime, creates a toxic environment of despair. Young people in these communities often live in survival mode, with little time or space to process their emotions or plan for the future. Rural youths, in particular, are isolated from resources available in urban centres. Poor infrastructure, unreliable internet and limited guidance exclude them, further marginalising them and exacerbating the mental health toll. These compounded struggles have led to an alarming rise in suicide rates among South Africa’s youth. The pressures of unemployment, financial hardships and the stigma surrounding mental health often leave young people feeling like there is no way out. Reports of young graduates and matriculants taking their own lives are heartbreaking, highlighting the urgent need for comprehensive mental health interventions. Suicide is not just an individual tragedy but a societal failure, underscoring the need for accessible mental health resources, destigmatisation campaigns and support systems tailored to young people’s needs. The solutions to these crises require collective and targeted efforts. Schools must prioritise mental health support by providing counselling services and safe spaces where students can process their emotions without fear of judgment. Universities must reconsider punitive measures, like withholding qualifications, as these perpetuate inequality and despair. Additionally, the government must invest in job creation programmes, skills training and internships to provide meaningful opportunities for unemployed youth. Mental health services must also be made accessible, affordable and destigmatised, especially in townships and rural areas, where they are most urgently needed. Addressing these challenges is not just about preventing despair but about unlocking the potential of South Africa’s youth to build a brighter, more equitable future. The country’s young people are not just the leaders of tomorrow; they are the heartbeat of today. Ignoring their struggles is both a moral failure and a missed opportunity to harness their potential. It is time to listen to their voices, acknowledge their pain and ensure no young person feels left behind. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://mg.co.za/thought-leader/opinion/2025-02-04-stuck-in-limbo-mental-health-and-unemployment-among-south-africas-educated-youth/
- BURSARIES | AN IMPORTANT COMPONENT OF SKILLS DEVELOPMENT
The commitment to transformation and empowerment has led to the establishment of various policies and initiatives, with the Broad-Based Black Economic Empowerment (B-BBEE) Act being a prominent one. Central to this legislation is the imperative of Skills Development, a Priority Element on the B-BBEE Scorecard and a key driver of socio-economic transformation in the country. Within the realm of Skills Development, Bursaries can play an important role, not just for the beneficiaries, but for the sponsors as well. Bursaries and the B-BBEE Scorecard Under the B-BBEE framework, businesses are assessed based on their performance across various elements, including Skills Development. The Skills Development element focuses on nurturing skills, competencies and qualifications among Black People in South Africa. Achieving compliance in this element is crucial for businesses aiming to improve their B-BBEE rating. One of the ways businesses can earn Skills Development pints is by providing Bursaries to designated beneficiaries. These beneficiaries typically include Black South Africans who may not have had access to higher education and skills development opportunities due to historical disadvantages. When business offer Bursaries to these beneficiaries, they contribute directly to addressing this imbalance and encouraging a more equitable society. The Impact of Bursaries on Skills Development Access to education: Bursaries provide individuals with the financial support they need to access quality education and training. Many aspiring students from disadvantaged backgrounds are unable to pursue higher education due to financial constraints. Bursaries break down this barrier, opening doors to education and skills development. Skill acquisition: Bursaries enable individuals to acquire skills, competencies and qualifications that are in line with industry demands. This aligns with the Skills Development Act’s objective of addressing skills shortages and enhancing the employability of South Africans. Employment Equity: Businesses that provide Bursaries often require beneficiaries to work for the company upon completion of their studies. This can contribute to Employment Equity goals, as it can increase the representation of Black people in skilled positions within the organisation. Community development: Bursaries extend beyond the individual beneficiaries. They have a ripple effect, positively impacting families and communities. Educated individuals are better equipped to uplift their families and contribute to the development of their communities. Scorecard points: For businesses, offering Bursaries translates into points on the Skills Development Scorecard. This not only helps in achieving compliance, but it also enhances the overall B-BBEE rating of the company. Challenges and Considerations While Bursaries are a powerful tool for Skills Development, they can come with challenges. Businesses need to carefully plan and manage their Bursary programmes to ensure alignment with B-BBEE requirements and the company’s strategic goals. This includes selecting suitable beneficiaries, monitoring their progress and managing the contractual agreements associated with Bursaries. Bursaries are an important component of Skills Development, serving as a bridge to education, skills and empowerment for Black People. Beyond compliance, they hold the potential to transform lives, communities and businesses. As South Africa continues its journey towards a more equitable society, the role of Bursaries in Skills Development remains vital, driving sustainable change and progress. Skills Development Services are available to guide members on how to claim such Training initiatives.
- EXCLUDING VAT AS PART OF AN ORGANISATION’S TOTAL MEASURED PROCUREMENT SPEND
VAT is a Total Measured Procurement Spend (TMPS) exclusion as per Clause 6.1 of Statement 400 of the Amended General B-BBEE Codes of Good Practice : “6.1 Taxation: any amount payable to any person representing a lawful tax or levy imposed by an organ of state authorised to impose such a tax or levy, including rates imposed by a municipality or other local government." Therefore, to confirm that VAT is an exclusion from an organisation’s TMPS, it must be recorded as such in its Audited Financial Statements or Financial Statements. Support Services are available to guide members on TMPS Exclusions.
- SANAS ACCREDITATION WITHDRAWAL
From time to time, the South African National Accreditation System (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.
- BRIDGING THE DIGITAL DIVIDE WITH EDUCATION AS A CATALYST FOR ECONOMIC INCLUSION AND GROWTH
Letlhokwa George Mpedi and Tshilidzi Marwala | 3 February 2025 A rtificial intelligence (AI) is automating tasks that were once exclusive to humans. Without access to quality education, individuals risk being left behind, excluded from economic opportunities and trapped in cycles of inequality. When we think of fundamental human rights, we often consider freedoms such as the right to life, housing, and social security. However, the right to education is just as essential, serving as both a fundamental right and a critical enabler of development. As former United Nations Secretary-General Kofi Annan once said, “Knowledge is power. Information is liberating. Education is the premise of progress, in every society, in every family.” Recognising this, Article 26 of the Universal Declaration of Human Rights enshrines education as a fundamental right, and many national constitutions and regional human rights instruments reaffirm this commitment. Furthermore, the United Nations designated 24 January as the International Day of Education, celebrating its role in fostering peace and development. As a 1999 report for the US Department of Education put it: “Without education, the aims of the universal declaration simply cannot be achieved.” The right to education is especially critical in today’s rapidly evolving digital economy. Technological advancements, specifically the rise of artificial intelligence (AI), are reshaping industries and redefining the future of work . Excluded from economic opportunities AI is automating tasks that were once exclusive to human workers, increasing efficiency but also raising concerns about job displacement. Without access to quality education, individuals risk being left behind, excluded from economic opportunities, and trapped in cycles of inequality. To remain competitive in this shifting landscape, workers must continuously acquire relevant knowledge and skills. As traditional jobs evolve and new roles emerge, education must adapt to equip individuals with essential digital skills. Coding, data analysis, and AI literacy are increasingly foundational across various careers. The rise of AI has also made it essential for workers to understand how to collaborate with intelligent systems, leveraging automation while focusing on human skills such as creativity, empathy, problem solving and critical thinking. Beyond technical proficiency, digital transformation demands adaptability and a blend of hard and soft skills — challenging traditional education models to evolve accordingly. Despite concerns about job dislocation due to automation and AI, education can serve as a bridge to opportunities in emerging fields such as robotics, blockchain, and 3D printing . AI-powered education platforms are also enhancing access to personalised learning, helping students and workers acquire skills at their own pace. Digital education further enhances access to remote work and the gig economy, creating employment opportunities for historically marginalised populations. Adequate societal protection However, policymakers must ensure that workers in these new employment structures receive adequate social protection and are not excluded from labour rights and security benefits. In response to the growing digital divide and the evolving global digital economy, international frameworks such as the Global Digital Compact and the African Digital Compact have emerged to guide digital transformation in an inclusive and equitable manner. The Global Digital Compact , proposed as part of the United Nations’ broader efforts to shape digital governance, aims to ensure universal connectivity, promote digital public goods, and foster a safe, secure, and inclusive digital environment. It emphasises the need for global cooperation to bridge digital inequalities, enhance digital skills, and safeguard human rights in the digital space. Education plays a crucial role in realising these objectives by equipping individuals with the necessary digital competencies to thrive in the modern economy. Similarly, the African Digital Compact is the African Union initiative was designed to accelerate Africa’s digital transformation while addressing challenges such as limited internet access, inadequate digital infrastructure, and skills shortages. This compact prioritises investments in digital literacy, connectivity, and policy frameworks that enable sustainable and inclusive digital growth. Strengthening education systems to incorporate digital skills training is central to the success of this initiative, ensuring that African economies can fully participate in the global digital revolution. Both compacts highlight the importance of education as a cornerstone of digital inclusion and economic resilience. By aligning national education policies with these frameworks, governments can foster a workforce that is prepared for the digital age, while promoting economic opportunities for all. Transformative potential Recognising the transformative potential of emerging technologies, many governments have established specialised commissions to position countries positively in the Fourth Industrial Revolution (4IR). One such initiative is South Africa’s Presidential Commission on the 4IR , which played a pivotal role in shaping national strategies for digital transformation. By emphasising education as a key enabler of 4IR readiness, the commission seeks to build a workforce with the necessary skills to adapt to a rapidly evolving technological landscape. In addition to workforce development, the commission promotes digital infrastructure expansion, innovation hubs, and industry-academia collaboration to align educational curricula with the demands of emerging industries. By integrating 4IR principles into national education policies, governments can create a robust framework for lifelong learning, ensuring that individuals remain employable and competitive in the digital age. A strong example of the kind of digital education required in today’s world is the compulsory AI course for all students at the University of Johannesburg. This initiative ensures that students across disciplines develop foundational AI literacy, equipping them with skills necessary for the evolving job market. Such programmes demonstrate the importance of integrating digital skills into higher education curricula, helping to close the skills gap and prepare graduates for an AI-driven economy. To close the education-employment gap, targeted policy interventions are necessary. These include: Promoting lifelong learning: Workers must continuously update their skills to remain competitive. Governments and industries should invest in ongoing training programmes to support upskilling and reskilling. Ensuring equal access to digital learning: Reliable internet access and necessary digital devices should be made available to all, reducing barriers to education. Embedding digital literacy in curricula: Schools must integrate digital skills into their curricula from an early age, ensuring future generations are prepared for the workforce. Making online learning affordable: Digital education should be financially accessible to maximise participation. Strengthening industry-academia collaboration: Partnerships between businesses and educational institutions can ensure curricula remain aligned with workforce needs. Preparing for an AI-driven future: Education systems should incorporate AI literacy, ethical considerations, and human-AI collaboration skills to prepare workers for a rapidly changing job market. Education is not just a fundamental right — it is a key driver of employment and development in the digital era. As the UN’s Educational, Scientific and Cultural Organization aptly states: “Education is one of the most powerful tools in lifting excluded children and adults out of poverty and is a stepping stone to other fundamental human rights. It is the most sustainable investment.” By equipping individuals with digital skills and fostering lifelong learning, we can build a workforce capable of directing the complexities of the modern economy. Stakeholders — including governments, academic institutions, and businesses — must prioritise education as a pathway to decent work and social inclusion. As a 1999 US Department of Education report reminds us, “Education is not a luxury but a right, and thus should not constitute a privilege.” This truth is even more relevant in today’s AI-driven digital age. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.dailymaverick.co.za/opinionista/2025-02-03-bridging-the-digital-divide-with-education-as-a-catalyst-for-economic-inclusion-and-growth/
- LANDMARK DEAL SIGNED TO BEEF UP HIGHER EDUCATION
Johnathan Paoli | 3 February 2025 An agreement seeking to strengthen higher education institutions, address sectoral challenges and enhance university-industry engagement has been signed by Universities South Africa (USAf) and the Technological Higher Education Network South Africa (THENSA). The Memorandum of Understanding will explore universities’ engagement with industry beyond traditional bursary support, with USAf CEO Phethiwe Matutu highlighting the need for work-integrated learning as a potential foundation for bridging the gap between graduates and the job market. “Many school leavers know nothing about life post-school; many are clueless about the National Student Financial Aid Scheme and applying to universities or TVET colleges. “Similarly, at universities, some students struggle to see the link between acquiring qualifications and understanding where to apply their skills in industry, despite having careers offices at each university,” she said. The CEO advocated for a structured approach to equipping students with career-readiness skills through internships, mentorship programmes and hands-on learning opportunities in collaboration with industry leaders. THENSA CEO Henk de Jager echoed these sentiments, asserting that universities must actively ensure graduates were work-ready. De Jager reaffirmed the consortium’s commitment to engaging with industry stakeholders to enhance employability and skill development initiatives within the higher education sector. Another key focus of the MoU is the acute shortage of space for students at universities. Matutu stressed the necessity of collaborating with the Higher Education and Training Department to find innovative solutions to accommodate increasing student enrolments. “We, therefore, need to look into how we could enhance the capacity of universities to absorb more school leavers. What can the DHET do from their side to capacitate universities, and what can we, as universities, do on our end in preparation for 2026? We need to explore what is possible,” she said. Engagements with the department are expected to focus on infrastructure expansion, increased funding and alternative educational pathways to mitigate the growing demand for higher education. De Jager agreed that given limited resources, collaboration and strategic planning with the government and private sector partners was essential for sustainable expansion. Under the MoU, joint learning programmes will be implemented to foster entrepreneurial skills among university students. It calls for the pooling of resources to secure funding from both local and international partners. It stresses the need for strengthening regional global partnerships to enhance knowledge exchange, as well as facilitating initiatives to support innovation, incubation and commercialisation in higher education. The agreement further calls for developing models to assess the effectiveness of academic and industry partnerships as well as any additional projects that support the advancement of the country’s higher education sector. One of the key international programmes highlighted during the signing was the Erasmus Plus initiative of the European Union. This programme offers opportunities for student and faculty, youth exchanges and capacity-building projects. De Jager emphasised that participation in such initiatives would strengthen South African universities and enhance their global competitiveness. Additionally, THENSA has established collaborations with the United Kingdom, Finland, Germany, Ireland, Switzerland and the United States. These partnerships focus on entrepreneurship, climate change response and technology transfer, areas where the synergy between USAf and THENSA could yield significant benefits. USAf director of Entrepreneurship Development in Higher Education (EDHE), Edwell Gumbo, stressed the importance of integrating entrepreneurship into university curricula. Gumbo highlighted the reliance on departmental funding, which currently accounted for 80% of EDHE’s financial support, and emphasised the need to attract additional private sector investment. THENSA operations and partnership director Christelle Venter revealed that a US Fulbright scholar would be assisting universities in the ethical use of Artificial Intelligence in 2025, an initiative to be extended across all 26 public universities through USAf. Beyond the MoU, the two organisations discussed multiple avenues for further collaboration, including expanding engagement with universities in India to strengthen academic and research partnerships, as well as PhD training opportunities in Ireland through the Irish Consulate. Additionally, the UK-sponsored Research and Innovation Systems Africa programme was identified, which THENSA recommended expanding through USAf. The USAf-THENSA partnership marks a critical step in fostering innovation, expanding higher education access and ensuring graduates are well prepared for the evolving job market. The organisations have stressed that this collaboration promises to drive transformative change in the country’s higher education landscape, ultimately benefiting students, universities and industry stakeholders alike. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://insideeducation.co.za/landmark-deal-signed-to-beef-up-higher-education/
- LETTER OF DEMAND SENT ABOUT RIGID BEE DIRECTIVES TO THE LEGAL SECTOR – SOLIDARITY
Riaan Visser | 02 February 2025 It appears that external pressure was exerted on the minister to enforce the sector codes. 31 January 2025 Solidarity has issued a warning to the Department of Trade, Industry and Competition, the Minister of Justice and Constitutional Development, and the Legal Practice Council (LPC) to point out that the implementation of strict racial directives for the legal profession is illegal, irrational and unconstitutional. These prescribed BEE codes for the legal sector, signed by Minister Parks Tau on 20 September 2024, are, according to Riaan Visser, head of Solidarity’s Law Network, in contradiction with, among others, the Constitution and the Employment Equity Act. Visser said the Solidarity Law Network specifically represents members working in the legal sector whose lives will be affected by these sector codes even more than the general public. “Solidarity is committed to the law and makes every effort to ensure that the procedures followed to enforce such directives at least comply with legislation. In this case, it appears that some external pressure was exerted on the minister to enforce the sector codes,” said Visser. If the minister does not heed our letter of demand, Solidarity will have no choice but to take legal action by the request. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.politicsweb.co.za/politics/letter-of-demand-sent-about-rigid-bee-directives-t
- UNLOCKING A NEW ERA FOR GROWTH AND INNOVATION
Janice Johnston | 2 February 2025 In South Africa, small and medium enterprises (SMEs) comprise 91% of formalised businesses, provide approximately 60% of employment and contribute as much as 34% to the GDP. Their success is critical to the nation's economic growth, particularly regarding job creation and reduced inequality. As we enter 2025, several critical trends are expected to influence the trajectory of South African SMEs, which are positioned to play an increasingly pivotal role in driving economic growth and development in the years ahead. These trends are influenced by global shifts, technological advancements, and local socio-economic conditions. For SMEs to thrive in this rapidly evolving landscape, they must adapt to challenges and importantly, essential stakeholders must commit to providing them with an enabling environment. Digital Transformation and E-commerce Expansion One significant trend expected in 2025 is the continued shift towards digital transformation. The COVID-19 pandemic accelerated the adoption of digital tools and e-commerce platforms, and this trend is anticipated to deepen. SMEs will increasingly rely on technology to streamline operations, enhance customer engagement, and expand their market reach, supported by the decreasing cost of such technology. Digital marketing strategies, including social media advertising and influencer marketing, will be essential for building brand awareness and engaging customers in a competitive market. Increased Use of Artificial Intelligence (AI) and Automation AI offers powerful tools and capabilities for small and medium businesses. In 2025, South African SMEs will need to adopt AI-driven tools to optimise operations, reduce costs, and make more data-driven decisions. Automating repetitive tasks can save time and improve productivity, allowing SMEs to focus on strategic activities. AI tools can also help SMEs understand customer behaviour for more personalised marketing. As the cost of AI and automation technologies decreases, these tools will become more accessible to smaller businesses, providing a competitive edge in the marketplace. Sustainability and Green Business Practices Adopting sustainable practices not only benefits the environment but also enhances business performance, builds reputation, and drives long-term growth. This year, South African SMEs will need to align their operations with sustainable practices to reduce their environmental impact. More businesses will focus on adopting green technologies, conserving resources, and reducing waste to remain relevant in an increasingly environmentally conscious market. Sustainable practices may include energy-efficient technologies, sustainable sourcing and packaging, as well as practices like precision farming and water conservation in agriculture. Green business practices can open up new opportunities for SMEs by attracting sustainability-conscious consumers and accessing financial incentives. Access to Funding through Alternative Financing Models Traditional financing channels have often been a significant barrier for SMEs in South Africa given the constraints of banks and traditional financial institutions to extend credit to small businesses due to perceived risks, lack of collateral, and limited financial history. In 2025, alternative financing models are expected to play an even more significant role in providing SMEs with fit-for-purpose capital. Blended finance arrangements, venture capital, growing seed and Enterprise and Supplier Development funds, as well as innovative alternative lending platforms, will continue to gain traction. Additionally, there is growing appetite from government and Development Finance Institutions (DFIs) to increase support for SMEs through targeted funding programmes. The rise of fintech companies in South Africa will also provide SMEs with access to digital financial products such as purchase order and invoice financing, merchant cash advances, and working capital loans. In 2025, South African SMEs will hopefully see increased collaboration between the private sector, government, and financial institutions to foster an ecosystem of funding and investment. Such collaborations will enable more businesses, especially in underserved sectors, such as the township economy and youth and black women-owned businesses, to access growth capital. Collaboration and Networking Opportunities This trend toward collaboration is well positioned to assist small businesses to increasingly partner with larger corporations, government agencies, and other SMEs to leverage resources, share knowledge, and enter new markets. Through strategic partnerships, SMEs can enhance their innovation capacity, gain credibility, and access new business opportunities. Business incubation and acceleration programmes, as well as networking initiatives, will become more important, providing SMEs with mentorship, business development support, and access to capital. These platforms provide the opportunity to facilitate collaboration, knowledge-sharing, and joint ventures, empowering SMEs to scale faster and more effectively. Notwithstanding the protracted challenging economic and social environment, South African SMEs are entering a potentially exciting and transformative phase as they adapt to new technological advancements, shifting consumer preferences, and evolving market dynamics. The trends for SMEs in 2025—digital transformation, AI adoption, sustainability, alternative financing, and collaboration— are tailwinds for growth, innovation, and impact. By embracing these trends, SMEs can build resilient, sustainable businesses that contribute significantly to South Africa’s economic prosperity. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.iol.co.za/business-report/entrepreneurs/unlocking-a-new-era-for-growth-and-innovation-e1dc1b66-e8d3-4e32-8784-4a5bb70f275a
- GLOBAL BUSINESS SERVICES SECTOR COMMITTED TO CREATING 500 000 JOBS BY 2030
Tshehla Cornelius Koteli | 30 January 2025 Between January and September 2024, the sector created over 14 000 new jobs, 12 564 of which were taken by the country's youth. South Africa’s Global Business Services sector is committed to fighting one of the most prevailing issues in the country, unemployment, by creating 500,000 jobs by 2030. Global Business Services refers to a business model where a company centralises and delivers shared services like finance, accounting, human resources, IT, customer service, and legal support to its various business units. The job targets are part of the GBS Sector Master Plan, an initiative spearheaded by the Department of Trade, Industry and Competition (the DTIC) with Business Process Enabling South Africa (BPESA) and Harambee Youth Employment Accelerator. Zain Patel, BPESA chairperson, said that between January and September 2024, the sector created over 14 000 new jobs, 12 564 of which were taken by the country’s youth. The sector has also contributed almost R13,6 billion in export revenue during the same period. He believes this proves their plan to create 500 000 jobs by 2030 is on track. In addition, ten new international Business Process Outsourcing (BPO) operators had chosen to invest in South Africa. “This reaffirms South Africa’s position as the world’s third most attractive off-shoring destination for prominent international firms in the telco, retail, healthcare, technology and financial services sectors,” he said. Jobs to be created in the near future Reshni Singh, BPESA CEO, said that since the masterplan was launched in the first quarter of 2022, they have managed to attract 30 international investors to our shores, of whom 22 converted to invest in SA. They include 12 Business Process Outsourcing Operators and 10 end-user clients. “We expect they will create between 13,000 and 17,000 new jobs in the next 18-24 months, which is a fantastic success story for the sector and the country.” Elevating global competitiveness Singh added that significant strides are being made towards advancing South Africa’s demand-side commitment goals under the GBS Sector Master Plan. “South Africa’s efforts to strengthen its global competitiveness in the GBS sector have yielded positive shifts. The DTIC has supported the industry to remain globally cost-competitive by undertaking a review of the national GBS Incentive Programme. “On average, South Africa is significantly more cost-effective than markets such as Poland and Malaysia. Initiatives such as the GBS Incentives and cost management strategies aimed at attracting and retaining international clients have also made the country comparable with locations such as Jamaica, Egypt and the Philippines, which are our main competitors.” Advancements in infrastructure She said provincial and local governments are actively working to develop additional business locations outside the main urban centres (Tier 1 and Tier 2 locations), with the Eastern Cape and Gauteng. The Eastern Cape Development Corporation is piloting projects in Gqeberha and East London, while Gauteng has introduced its Township Economic Regeneration Plan. “Critical infrastructure developments are underway, including a plug-and-play BPO park in the COEGA Special Economic Zone and expanded broadband access to key locations. “By partnering with community facilities, South Africa is transitioning towards hybrid work models that inclusively accommodate work-from-home setups.” ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.citizen.co.za/business/global-business-services-sector-committed-to-creating-500-000-jobs-by-2030/
- LETTER: VALUE OF YOUNG SOUTH AFRICANS
Stefan Kritzinger | 30 January 2025 A considerable 30% of SMME owners are 35 years or younger. While South Africa faces a youth unemployment rate of about 45%, data from FinScope indicates that a considerable 30% of SMME owners are 35 years or younger, underlining the role that the youth play in building a resilient economy and creating jobs, regardless of numerous socioeconomic challenges and risks. Young South Africans are well-positioned to excel as entrepreneurs and business leaders despite these challenges. Being young offers the freedom to take risks without significant financial responsibilities, encouraging young people to learn from mistakes and recover quickly. Embracing failure as part of the journey builds resilience, and failing early inadvertently accelerates their long-term success, with each learning curve providing a stepping stone towards their entrepreneurial goals. Young entrepreneurs also possess the energy needed for the fast-paced hustle of business, especially as technology continues to evolve. Their fresh perspectives and innovative ideas resonate with modern markets, attracting support from those eager to buy into the vision of our youth. Slugging it out as a young aspiring entrepreneur also affords one substantial time to learn key skills such as marketing, sales, leadership and financial management. With the 2024 matric class entering the market in 2025, know that the South African economy eagerly awaits your entrepreneurial contributions, and dreams, this year. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.businesslive.co.za/fm/opinion/letters/2025-01-30-letter-value-of-young-south-africans/
- BRIEFLY NEWS PROMOTES YOUTH DEVELOPMENT INITIATIVES
Maryn Blignaut | 29 January 2025 Like many other countries, South Africa struggles with a high unemployment rate among young people. Briefly News is committed to youth development initiatives and hosts various special projects, webinars, workshops and courses throughout the year, says Maryn Blignaut, Head of the Human-Interest Desk at Briefly News. Geographical and gender disparities, limited access to proper education and an unstable economy all play a role in the struggles of young jobless South Africans. Therefore, youth empowerment programmes should not be seen as just initiatives; they are an investment in young people's future and, in turn, a key to addressing pressing social challenges. These initiatives are designed to develop leadership skills, encourage critical thinking and foster a problem-solving mindset in young professionals. Unemployment in South Africa: The Youth Perspective Young South Africans under the age of 34 live with the harsh realities of unemployment. A staggering 45.5% of young people in the country are jobless — much higher than the national average of 32.9%. This frightening statistic shows how dire an intervention is to change the circumstances of young South Africans' lives. The Importance of Experience: A Key to Youth Employability While education provides young professionals with essential theoretical knowledge for business careers, a degree alone does not guarantee employment after graduation. According to the 2022 Labour Market Dynamics in South Africa report, some form of experience significantly increased young jobseekers' chances of being employed, more so than adults, even after a period of inactivity. This "experience divide" further proves why youth empowerment initiatives are crucial in developing young professionals. Programmes like internships, apprenticeships and experiential learning programmes equip them with the necessary skill set and boost their employability. Social Challenges: How Youth Empowerment Gives Power to Communities Facing unemployment, many young people turn to risky and unhealthy ways to make a living, often resulting in lives marked by crime and substance abuse. Youth empowerment initiatives can educate young people on alternative options to achieve success. By offering mentorships, vocational training and entrepreneurship development, these initiatives lay the foundation for a better future. Briefly News' Role in Youth Empowerment As a leading news platform, Briefly News recognises the importance of youth empowerment. In June, we launched a special project for Youth Month, titled 'Briefly News Young Money Makers.' The project highlighted the journeys of seven young, up-and-coming entrepreneurs who had to build businesses from scratch. Briefly News' 'Young Money Makers' gave these young entrepreneurs a free platform to promote their businesses and share their empowering stories with a large online audience. The project reached 1.8 million people online during Youth Month. Their stories also highlighted the importance of mentorship and development programmes for young professionals and aspiring entrepreneurs, giving insights to other young South Africans wishing to follow suit. Entrepreneurship offers a promising pathway to economic stability and a solution to youth unemployment. However, a critical barrier for young aspiring entrepreneurs is the lack of mentorship and structured support. One of Briefly News' 'Young Money Makers' participants, Tinashe Zano, shed light on how important youth initiatives are for young professionals' growth. Zano, the Founder of Nspire footwear, is a chartered accountant with his own firm. During our interview, the young entrepreneur discussed how the South African Institute of Chartered Accountants (SAICA), South Africa's pre-eminent accountancy body, runs mentoring programmes to develop their young members. The entrepreneur said his mentor would ask thought-provoking questions and help him find solutions to obstacles he would not have considered before. While the mentorship programmes ordinarily last a year, Zano added that he still speaks to his mentor, and the programme helped build a life-long connection. Briefly News also offers various skills training options throughout the year aimed at empowering the youth. A few of our initiatives include the workshop AI for Journalists: Power Up Your Reporting Ethically, which was held in February 2024. The media platform also created a copywriting course for avid writers. This course was designed for people to study in their own time andoffers one-on-one mentorship, practical assignments, CV-creation consultation and an internship. The publication also hosted a free AI webinar in November 2024. Conclusion Youth development initiatives are crucial for combating unemployment among young South Africans and contributing to economic growth. Through skills training, mentorship and experiential learning, young people can be equipped with the tools needed to become leaders with honed problem-solving and forward-thinking skills within their communities. Briefly News, through projects like 'Young Money Makers' and ongoing educational workshops, has shown its commitment to supporting young people's growth and success. Briefly News dedicated itself to offering various workshops, courses, webinars and projects that help young people gain exposure to aid in their success. The journey towards reducing youth unemployment is long, but with united efforts and steadfast commitment, we can make a meaningful impact in the lives of the country's young people. ‘Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER’. https://www.mediaupdate.co.za/media/157366/briefly-news-promotes-youth-development-initiatives
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