South Africa’s President Cyril Ramaphosa has launched the Youth Employment Service (YES), an initiative which sets out to create one million quality work experience opportunities for the country’s youth over the next three years.Its hoped the initiative will help push back the country’s high youth unemployment, estimated to be around 50%.
YES is a business led initiative delivered in partnership with government, labour and civil society. It targets to benefit black youth between the ages of 18 and 35. When properly undertaken YES will yield significant BBBEE points for participating corporations. A detail proposal of how the BBBEE point scoring is going to work is currently out for public comment.
The programme has three channels for youth employment opportunities:
Corporate work experiences:
Businesses that participate in the programme create one-year paid positions for youth aged between 18 – 35, in addition to their current employment numbers.
Firms meeting yes work experience opportunity targets will be eligible for Youth Employment BBBEE recognition and will also qualify for employment tax incentive.
SMME host placements:
Businesses that do not have the capacity to place more people in their organisations, have the option of sponsoring the salary and support costs for a one-year placement in small and medium enterprises.
Firms meeting Yes host target will earn considerable enterprise development BBBEE points.
Young people are empowered to start and grow their own businesses, with support from YES in the form of training, seed funding and value-chain integration.
Firms can participate in this channel by contributing into SMME funding, opening up access to procurement opportunities and training will earn considerable BBBEE points.
Its expected that, YES will through these three channels activate a minimum of additional R8.4 billion per year in personal income for the economy.
Tashmia Ismail-Saville, CEO of YES, says “YES aims to give that portion of our youth, which are largely overlooked by the country’s current employment models, a crucial first chance to gain a paid work experience of a decent quality. This significantly increases their chances of securing permanent employment after the year.”YES is in the process of creating a number of community hubs at various locations in the country, which will provide the environment and services necessary for existing and aspiring business owners to elevate their businesses or ideas.
For further information visit www.yes4youth.co.za