Youth unemployment in SA reaches record high
South African Institute of Chartered Accountants partners with Coronation Fund Managers to bridge the unemployment gap.
STATISTICS South Africa’s Quarterly Labour Force Survey has revealed that over three million young South Africans between the ages of 15 and 24 are currently unemployed.
South Africa’s youth unemployment statistics are the highest they have ever been at 55.9 per cent. While the greatest opportunity for solving unemployment globally lies in growing the number of entrepreneurs, South Africa possesses below average entrepreneurial activity levels for young people.
Also read: Unemployment rises to 27.7% in first quarter of 2017
The survey revealed that young people are not adequately equipped with the skills they need to start and run their own business and that contributes to their below average entrepreneurial activity.
In efforts to help young people realise their full entrepreneurial potential and contribute to the greater economy, Coronation Fund Managers has partnered with the South African Institute of Chartered Accountants (SAICA) to sponsor this year’s annual Business Development Games. The games will see 900 grade 10 and 11 learners from around the country discover just how business works in the real world. The games are now in their 16th year, and they will run between 2 September and 14 October with the Durban leg set for 16 September.
Read also:Reducing SA’s high unemployment rate
Gugu Makhanya, SAICA’s Senior Executive: Transformation & Growth said, “We must be active in moulding the youth’s talent and ideas from a young age. This is why SAICA and Coronation have invited 100 learners from every province to participate in the 2017 Business Development Games.
“During the games learners will discover how to think outside the box. We introduce learners to real-life business situations and show them some of the daily decisions business leaders have to make to run their companies successfully,” Makhanya said.
Wendy Bergsteedt who is the Head of Marketing at Coronation Fund Managers said, “Our contribution to education is a long-term investment that we take seriously. Over the years, we have established a number of inspiring educational programmes that have changed the lives of many. This initiative aims to do just that.”
Makhanya added they would use the games to introduce learners to chartered accountancy as a career of choice. She said this would be done through motivational talks and career presentations.
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