Standard Bank and GIBS launch Youth Forward programme to combat youth unemployment

As the country gears up to commemorate Youth Month this June, Standard Bank Business and Commercial Banking, in collaboration with the GIBS Entrepreneurship Development Academy (EDA), is taking action against the rising tide of youth unemployment by launching the 2025 Youth Forward Programme.

This initiative is set to empower 50 black youth-owned businesses with essential tools and support to thrive in the current challenging economic landscape.

The urgency of this initiative resonates deeply with the latest figures from Statistics South Africa, revealing that youth unemployment for individuals aged 15-34 has surged to a staggering 46.1% in Q1 2025, a notable increase from 44.6% in the previous quarter.

Alarmingly, the unemployment rate for youth aged 15-24 stands at 62.4%, emphasising the pressing need for inclusive programmes that break down barriers to economic opportunities for young South Africans.

During this significant month, which marks the 1976 Soweto Uprising — a pivotal moment in the fight for equality in education — the focus shifts towards the vital investment in youth development.

“Youth Month is not only a time to reflect on the sacrifices of our young people but also to invest in their future,” said Naledzani Mosomane, Head of Enterprise Development at Standard Bank South Africa.

“Through the Youth Forward Programme, we aim to transform the entrepreneurial landscape for black youth, equipping them with the skills, networks, and resources to build sustainable businesses.”

This sentiment is echoed by Ms. Guinivere Pedro, Senior Programme Manager for the GIBS EDA, who expressed enthusiasm about the collaboration.

“We are excited to continue working with Standard Bank to unlock the potential of young entrepreneurs,” she stated. “This programme equips participants with practical tools and strategic thinking to sustain and grow their businesses.”

The Youth Forward Programme is specifically tailored for entrepreneurs aged between 18 and 35, running businesses with at least 51% black ownership and a minimum annual revenue of R100,000.

To qualify, applicants must be South African citizens with registered businesses that have been operational for at least 12 months.

The programme combines online and in-person learning experiences, with a preference for participants based in Gauteng and neighbouring provinces due to the location of physical sessions in Johannesburg.

Successful participants will receive structured business training, mentorship, and access to a valuable network of peers and industry leaders.

This initiative is part of Standard Bank BCB’s broader commitment to fostering inclusive entrepreneurship through its Enterprise and Supplier Development (ESD) programmes.

These efforts are dedicated to empowering township entrepreneurs to launch, manage, and grow small, medium, and micro enterprises (SMMEs), thus making a substantial contribution to South Africa’s economic development.

If you are a young entrepreneur ready to take your business to the next level, this programme presents an exciting opportunity.

Applications are open and will close on 3 June 2025. Interested applicants can complete the application process here.

BUSINESS REPORT

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