Mastercard has intensified its commitment to tackling youth unemployment in South Africa through an expanded partnership with the Youth Employment Service (Yes), a prominent private-sector initiative.
Having previously integrated 12 Yes Youth into its workforce, Mastercard is now enhancing its engagement by welcoming an additional 14 young individuals for the upcoming phase (2023/24). This move underscores the company’s dedication to empowering the next generation and addressing economic challenges.
Akinola Akinrin, Director of People Business Partner at Mastercard SSA, highlighted the company’s focus on providing African youth with opportunities for skill development and meaningful work experiences. He emphasized Mastercard’s strategic investment in South African infrastructure, aligning with governmental objectives for economic growth.
Ravi Naidoo, CEO of Yes, expressed appreciation for the continued partnership, recognizing its significance in equipping young people with relevant skills and industry exposure.
The partnership aims to offer 12 months of valuable workplace experience and sustainable employment opportunities to participating youth, contributing to their economic inclusion and societal advancement.
With projections indicating a substantial rise in the African labor force by 2030, collaborative initiatives like Mastercard’s partnership with Yes play a pivotal role in addressing youth unemployment and fostering economic resilience.
By: Montel Kamau
Serrari Financial Analyst
2nd February, 2024
