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18-28 Years old and unemployed? Neasa starts scheme to train young entrepreneurs

13 October 2021 7:43 PM
Tags:
Unemployment
National Employers Association of South Africa
Entrepreneurship
The Money Show
Job creation
Gerhard Papenfus
Bruce Whitfield
Youth unemployment
Jobs
tax rebate
Neasa
social responsibility spend

The Money Show interviews Gerhard Papenfus, CEO of the National Employers' Association of South Africa.
Image: Daniela Carvalho Dani on Pixabay

South Africa’s official unemployment rate stands at 34%, with the expanded definition rate 10% higher at around 44%.

The jobless rate for the youth (18 – 34) is 65%, says the National Employers Association of South Africa (Neasa) in an appeal to its members.

Neasa has come up with what it calls a sustainable, tax-beneficial solution, which will benefit both employers and the unemployed youth.

RELATED: Action needed to shift 'massive number' of SA youth facing lifetime unemployment

It is partnering with a specialist service provider to create entrepreneurship opportunities in the form of learnerships.

Companies will fund this by utilising their available tax rebates.

Young people must meet 4 requirements to qualify for the programme:

  • you must be unemployed
  • you must be between the ages of 18 and 28
  • you must have a Grade Ten certifcate
  • you must have a smartphone

Bruce Whitfield finds out more from Neasa CEO Gerhard Papenfus.

The aim is to expose young people to entrepreneurship. We'll be using tax money - money that will otherwise go to Sars - to invest in this... We've found a service provider that's been the IT around this... The money is paid over to this company...

Gerhard Papenfus, CEO - National Employers' Association of South Africa

They utilise a portion for the training which happens per smartphone... Then a portion of the money goes to the individual as a stipend to live on... The third portion is seed capital... You can only spend the money on the project which you want to engage in.

Gerhard Papenfus, CEO - National Employers' Association of South Africa

To get your stipend, you must trade and you must study... You are constantly assessed on the academic side... and the trading is monitored all the time...

Gerhard Papenfus, CEO - National Employers' Association of South Africa

The young person will be taught the basics of entrepreneurship during the 12-month programme.

It's up to the individual to then start buying and selling, or whatever it is they choose to do says Papenfus.

The beautiful part of this is that someone can invest in a young person in his area... So your money isn't going towards a bottomless pit - it is coming back to your area and, as a businessman, apart from making this contribution you don't have to deal with this person, although preferably you can also mentor that person.

Gerhard Papenfus, CEO - National Employers' Association of South Africa

We just don't have the jobs for 64% of our young people.

Gerhard Papenfus, CEO - National Employers' Association of South Africa

It is a wonderful opportunity for business to say 'let us help young people in our town'. It almost sounds too good to be true...

Gerhard Papenfus, CEO - National Employers' Association of South Africa

For more detail, listen to the interview below:




13 October 2021 7:43 PM
Tags:
Unemployment
National Employers Association of South Africa
Entrepreneurship
The Money Show
Job creation
Gerhard Papenfus
Bruce Whitfield
Youth unemployment
Jobs
tax rebate
Neasa
social responsibility spend

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