ESG Topics

Key environmental, social and governance topics

Job creation and SME development

Job creation is a critical concern in South Africa, given its persistently high unemployment rate.

South Africa has one of the highest rates of unemployment in the world at 30%. The figure below shows that this figure has remained persistently high. Including discouraged worker-seekers in this calculation brings the unemployment rate closer to 40%. Statistics are even more alarming if the youth portion is considered separately. For the age group comprising 15 to 34 year olds, the unemployment rate is measured at 34%, with over 50% of those under the age of 25 unable to find work.

This constitutes an immense pressure to the long-term sustainability of investments. The need to create jobs is urgent and a priority for both government and business and therefore imperative to responsible investment.

South Africa Unemployment Rate (by sex) 2011 to 2019 (percentage of the labour force)

Source: Statistics South Africa

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