AUNYANA MOLOISANE | Invest in youth skills to regain our economic foothold

When it comes to youth capital, SA is rich with opportunity.

We have a young population hungry for knowledge and skills and eager to work. If given half a chance, they have the power to transform the fabric of SA society socially, politically and economically. 

If SA is going to regain its economic foothold, we need to be investing in our youth. And the primary mechanism through which we should be doing this is skills development. This approach starts with confronting – and acting on – five uncomfortable truths.

We need to overhaul our education system.

Many different areas need to be reviewed; some need to be overhauled entirely. Our education system isn’t equipping young people with the practical skills they need to succeed once they matriculate. Trades aren’t properly integrated into our curriculums, nor are pupils provided with the business skills they need to start their own companies.

A university qualification isn’t essential.

We have created a society that grants undue status to universities - over and above diplomas or any other kind of qualification. This simply isn’t the case. 

Not every pupil is ideally suited for university instruction and even if they were, our institutions don’t have the capacity.  Skills development programmes, learnerships and internships can help young people gain the skills they need to find gainful employment or to start their own businesses.

A culture of entrepreneurship is still the answer.

Most of the world’s progressive economies are succeeding off the backbone of small and medium enterprises. These businesses are built by entrepreneurs and small business owners who are identifying challenges, developing solutions and employing others. The knock-on effect is enormous. Entrepreneurs help to promote economic growth, improve the standard of living and lift individuals, families and communities out of poverty.

Corporates can’t pay lip service to skills development.

It is a line item on the BEE scorecard and often treated as a mere box-ticking exercise. But companies that take skills development seriously and invest in it wisely and consciously, see tangible benefits – not only for their businesses. By upskilling community members, companies gain access to a skilled and competent workforce. They also help local residents to become entrepreneurs and establish businesses from which their company can then procure. 

Skills development is everyone’s responsibility.

Our future economic success depends on everyone – individuals, the private sector and the government – working together to prioritise skills development. It needs to be intentional and deliberate.

What happens if we acknowledge these truths and act upon them?

Firstly, individuals become more self-sustaining. They’re less likely to depend on a system that is battling to serve them and become capable of taking control of their own destinies instead. For companies, it boosts their talent and procurement pools. And for a government facing a shrinking tax base and nearly half the population requiring social grants, it offers some relief at last.

With more skilled youths and more entrepreneurs, we may finally see the economic needle shift.

• Moloisane is managing director of Optimi Workplace, a division of the Optimi Group.