JOHANNESBURG, 21 September 2023 – Deputy President Paul Mashatile will deliver the keynote address at the South African Youth Economic Council’s (SAYEC) second annual business gala dinner on Tuesday, 26 September 2023.
SAYEC is an economic and legal policy advocacy group that promotes youth participation and integration in the economy. The council aims to promote a transformed economy where the youth become actively involved in the economic growth and job creation in South Africa.
The gala dinner will be held under the theme “Accelerating Economic Growth & Growing Investments for Youth Job Creation”. It will focus on the need for labour intensive industries and businesses to stimulate job creation particularly among young people. Participants will also discuss policy measures that can be put in place to facilitate investment into the economy in a number of critical areas.
Both SAYEC and Government are concerned that South African youth unemployment for people between the ages of 15 and 34 currently stands at around 4.9 million at 46.5%, well above the national average of 32.9%. The largest proportion of the young people who make up this percentage, are low to semi- skilled labour.
In a statement, Ms. Makgotso Lebajoa, CEO of Imperial Key Africa, stressed the importance of SAYEC’s role as a platform for advocacy on economic issues.
“SAYEC is critical in accelerating economic growth,” she said. “It is fundamental that the youth understand the fundamentals that underpin economic growth and the key driver to economic development is the respect for the rule of law and regard for property rights. SAYEC as a platform is key in democratizing such knowledge.”
“Knowledge in itself is capital and we need it to progress as absent the rule of law, economic development is a mirage,” she added.
The focus areas for the gala dinner are the key industries of mining and energy, agriculture, finance as well as the information and communication technology sector.
The gala dinner is expected to attract a wide range of guests, including government officials, business leaders, academics, and youth representatives.