President Cyril Ramaphosa is expected to launch an initiative to help young people find jobs and empower them to run their own businesses.
“The initiative, in collaboration with the private sector, aims to empower one million young people over the next five years to become economically active, either as a member of the workforce or running their own businesses or finding their passion for further study,” Minister of Communications Nomvula Mokonyane said on Thursday.
Minister Mokonyane, who addressed the media in Cape Town on the outcomes of Wednesday’s Cabinet meeting, said the launch of the pilot Youth Employment Services (YES) initiative will be held at the Riversands hub in Diepsloot on Tuesday, 27 March.
Following the growth in the economy in 2017, Cabinet has called on all sectors of society to build on the positive momentum and work with government to translate its plans into concrete action to sustain economic growth and create jobs.
“The growth figures signal that the economy is on an upward trajectory, with National Treasury expecting the economy to expand by 1.5% this year and accelerate to 2.1% in 2020,” Minister Mokonyane said.
Cabinet has welcomed the 1.3% growth in the economy in 2017. This is an increase from 0.3% in 2016.
“The performance of the economy under difficult conditions bodes well for the country’s future economic prospects,” she said.
Cabinet has encouraged all South Africans, in the spirit of “Thuma Mina” (meaning ‘send me’), to play their part by sharing their positive stories to build the country’s reputation and grow its investment appeal.
Earlier this month, Brand South Africa launched the digital campaign called “CEOs Know”, which is aimed at promoting South Africa as an investment destination. The campaign was launched in collaboration with Business Leadership South Africa.
“This builds on our world-class infrastructure through InvestSA One-Stop Shop, research and development capabilities, innovation and an established manufacturing base to support investors. New growth areas have also been opened in the oceans economy, renewable energy, the green economy and shale gas exploration,” Minister Mokonyane said.
The campaign features CEOs from multinational corporations based in South Africa, sharing their insights on continued investment in the country.