The future of any country depends on the success and wellbeing of its young people, and with the right support and policies, our youth can lead South Africa to a brighter and more prosperous future. Their resilience and ambition are our nation's greatest assets. This is why we should all pay attention to their challenges, shine a spotlight on these, help remove obstacles, and drive initiatives and policies to help set them (and, therefore, South Africa) up for future success. Surveys and economic analyses, such as the 2022 African Youth Survey and the South African Social Attitudes Survey, reveal some key concerns. Still, most of all, they reveal that the South African youth have a strong sense of optimism and potential. They are better educated, more connected and increasingly engaged in shaping their future.

Seizing opportunities and leveraging strengths

Celebrating 30 years of democracy, the future is full of opportunities. How can we help the future generation seize the opportunities ahead? To do this, we need to listen to their concerns. These include high unemployment rates, skills mismatches, and mental health issues, which inform focus areas in education, digital literacy, financial products to improve financial access and inclusion, and political engagement. 

Economic potential

Young South Africans are determined to succeed. They recognise the critical role of education and skills development in building a prosperous future. The 2022 African Youth Survey showed that 86% of young South Africans see unemployment and underemployment as major challenges. At the end of the first quarter of 2024, the unemployment rate among young individuals (aged 15–24) stood at 59.7%. This underscores the urgency for job creation and economic stability for the younger generation.

Initiatives like the African Union's Agenda 2063 and various public–private partnerships aim to equip young Africans with the skills needed for the 21st century, focusing on digital literacy and entrepreneurial training. By embracing these opportunities, the youth can drive economic growth and innovation.

The role of Agenda 2063

The African Union's Agenda 2063 and various public–private partnerships aim to equip young Africans with the skills needed for the 21st century, focusing on digital literacy and entrepreneurial training. This initiative is part of a broader strategy to transform Africa into a global powerhouse by promoting inclusive and sustainable development.

It is a strategic framework that is designed to achieve socioeconomic transformation across the continent. It focuses on digital transformation as a critical component for creating quality jobs and reducing vulnerable employment. 

Agenda 2063 aims to create stable and decent jobs by shifting activities to the formal economy, particularly for the youth. This strategy also highlights the importance of digital literacy and entrepreneurial training, enabling young Africans to participate effectively in the global economy. Digital transformation under Agenda 2063 represents a significant opportunity for youth employment, especially for those with digital and entrepreneurial skills qualifications.

For more detailed information about Agenda 2063 and its initiatives, visit the African Union's official page at Agenda 2063 - The Africa We Want.

Embracing digital transformation

Access to quality education remains a top priority. Investing in education is crucial for individual success and the nation's broader economic health. The digital revolution offers significant opportunities. Technology can bridge educational and employment gaps, providing young people with new avenues for learning and innovation. Collaborative efforts to enhance digital literacy and ensure affordable access to technology are vital for empowering the next generation. Nedbank Private Wealth’s commitment to philanthropy is demonstrated through various foundations and educational initiatives that empower youth and their future.

Political engagement and governance

Political engagement is growing among South African youth. They are increasingly involved in advocacy and pushing for reforms that address corruption, governance and social justice. The African Youth Survey found that 74% of young Africans prefer democracy as the best form of governance, reflecting their desire for a transparent and accountable political system. This engagement is a positive sign, indicating that young people are aware of the issues and willing to be part of the solution. 

In the 2024 South African elections, youth voter participation showed notable trends. According to the Electoral Commission of South Africa (IEC), youth aged 18–39 accounted for 42% of the total voters, with 11.7 million registered voters in this age group. This marks a significant increase from previous elections, highlighting the successful efforts to engage younger voters. The IEC's introduction of an online self-service voter registration portal played a crucial role in boosting registration among young people, contributing to this substantial increase.

The participation of young voters was also marked by new registrations, with 77% of new entrants on the voters' roll being under the age of 29. This indicates a growing political engagement among the youth, driven by their desire to address pressing issues such as unemployment, education and social justice.

These statistics highlight the importance of the youth vote in shaping the future of South Africa's political landscape, as young voters increasingly influence election outcomes and policy directions.

What do you think we should and could be doing together?

The resilience and ambition of South Africa's youth are pivotal in navigating the challenges and seizing the opportunities ahead. We all want to play our part in whatever way we can to empower the next generation to lead South Africa to a prosperous future. 

Want to know more?

Here’s what to do:

• Find out about our philanthropic foundation’s education initiatives here.
• Contact your wealth manager.
• If you’re not a client yet and want to learn more about how we can help you, we would love to hear from you. Call us on 0860 111 263 or complete an online contact form. 

Legal Line/Disclaimer:
This information is for general information purposes only and is not legal advice.