South Africa's Deputy President Paul Mashatile has voiced the government's concern over the modest economic growth, citing its negative effects on the country's youth.
Speaking at the Youth Day Commemoration event in Mangaung, Bloemfontein in the Free State Province, the official highlighted that the economy is not growing at the rate needed to ensure full engagement of the youth and provide them with broader opportunities.
“We remain concerned that the economy is not expanding at the rate that permits the economic development of a large number of people, especially the youth. It is for this reason that we are committing to accelerate the youth economic emancipation for a sustainable future," Mashatile said.
The deputy president stressed that by achieving and maintaining sustainable economic growth the government would be able to create a secure future for young generation. Therefore, he reiterated, the authorities do everything they can to boost the nation's economic development.
He added that South Africa is continuing to prioritize the youth and look for viable solutions to the problems they face. He in particular referred to the unemployment crisis, resolution of which requires collaborative efforts from all parties concerned. In this regard, Mashatile noted, the government is joining forces with the country's private sector.
"In addition to existing government programs of supporting entrepreneurs, we are providing young entrepreneurs with access to both financial and non-financial business development support to enable them to establish and grow their own businesses," he stated.
He recalled that during the prior fiscal year, the Presidential Employment Stimulus, a national program established in response to the economic impact of the pandemic, enabled the creation of almost 650,000 new jobs. He further elaborated that these opportunities were made available in various industries, including agriculture.
The deputy president pointed out that given the fact that the majority of the country's population accounts for young people, all sectors of society should work together to provide them with the necessary skills to enter the labor market and thereby contribute to "our collective prosperity."
"If we fail to do so, we would have failed South Africa's future, as young people represent the future, and it is our responsibility to secure it," the official highlighted.
According to Mashatile, youth empowerment, specifically education and training of young people, is at the top of the government's agenda. He underscored that "education is one of the most crucial enabling factors for attaining economic emancipation."