Corporate SA urged to help with youth unemployment

The recent unemployment statistics by the Statistics South Africa (Stats SA) paints a frightful picture of what unemployment looks like in the country.

It was revealed on Tuesday that the unemployment rate has increased, with the youth and women carrying the burden. Unemployment for women is sitting at 35.8%, from 35.2% in the first quarter.

Unemployment amongst those aged 15-24 years is at 60.8%, and for those aged 25-34 years is sitting at 41.7%.

Corporate SA assistance

Chief Executive Officer at Afrika Tikkun, Dr Onyi Nwaneri, calls upon corporate SA to partner with relevant stakeholders to lessen the high rate of unemployment.

“These statistics underscore the urgency and the critical need for coordinated efforts to address these challenges.”

She said the unemployment rate can also be viewed as an opportunity to reshape the country’s future.

“As a nation standing on the cusp of transformation, the time has come for businesses to see beyond philanthropy and engage in strategic partnerships that promise not just social good, but substantial economic returns.”

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Unlocking potential for young people

Nwaneri believes when relevant stakeholders address youth unemployment, they will be unlocking a vast potential.

“By giving the youth a chance to show what they can do, Corporate SA will be reinforcing the bedrock of our economy, ensuring sustained productivity and growth.”

She says the government cannot solve the unemployment rate on their own, therefore, more partnerships between them, Corporate and civil society will drive change and make a big difference.  

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To act with urgency

“Imagine the progress we could achieve if we combined our resources, shared our expertise, and united in pursuit of a common goal. The impact would be nothing short of extraordinary,” says Marc Lubner, Executive Deputy Chairman at Afrika Tikkun.

He does acknowledge that there are concerns surrounding how civil society initiatives align their goals and efficacy.

He believes all that is needed is an open, honest dialogue to address concerns and align efforts that will help the unemployment of the country.  

“We urge Corporate South Africa to view investment in civil society organisations as a strategic commitment to our shared future.”