ADVANCING FINANCIAL INCLUSION THROUGH ENTREPRENEURSHIP
07:22

 WITH UNEMPLOYMENT AMONG PEOPLE AGED 15 TO 34 NOW AT AN ALL-TIME HIGH
OF 45.5%, WE NEED TO EMPOWER OUR YOUTH TO HARNESS THEIR SKILLS AND IDEAS
SO THAT THEY CAN BUILD BUSINESSES OF THEIR OWN. AS IN OTHER COUNTRIES
AROUND THE WORLD, ENTREPRENEURSHIP IS, IN FACT, THE ENGINE OF JOB CREATION,
WITH THE NUMBER OF NEW JOBS IN THE CORPORATE SECTOR EITHER AT STAGNANT
LEVELS OR DECLINING. 
 IN SOUTH AFRICA, SMMES WITH A TURNOVER OF UNDER R10 MILLION A YEAR NOT
ONLY CONTRIBUTE SIGNIFICANTLY TO THE ECONOMY BUT ARE FUELLING GROWTH IN
THE JOB MARKET, CREATING APPROXIMATELY 91% OF NEW JOBS. FOR MANY, THESE
JOBS ARE A VITAL BRIDGE INTO THE FORMAL ECONOMY, PROVIDING INDIVIDUALS
AND FAMILIES WITH A LEVEL OF FINANCIAL SECURITY THEY WOULD OTHERWISE NOT
HAVE HAD.
 WE ARE JOINED BY DR STEVEN ZWANE, MANAGING EXECUTIVE: CORPORATE
CITIZENSHIP AT ABSA GROUP IN STUDIO TO TELL US MORE…