Deputy President Paul Mashatile has outlined the government’s vision to get involved in the role that young people play in business and the economy.
He said young people’s energy, creativity and determination possess the potential to unlock untapped opportunities in the economy.
Speaking at the gala dinner organised by the South African Youth Economic Council (Sayec) at the Marriot Hotel, Melrose Arch this week, Mashatile said South Africa needs young people who are patriotic and possess a never-die spirit.
“I would have been surprised if young people lacked ambition and innovative ideas. I noted critical ideas and innovations from Sayec, the Mvelaphanda Centre for Maths, Science and Innovations,” Mashatile said.
“I am also aware that through your investment arm, Lotsha Investments, you are working on investing in mining.
“Having been a youth leader myself, I believe in harnessing the energy of the youth, because you are the future.”
The ceremony was held to encourage and empower the youth under the theme Assessing Government and Private Sector Policies Necessary for Mass Youth Employment and Business Opportunities in South Africa.
The deputy president said the current state of the mining industry is not impressive.
“You have raised the issue of investing in the mining sector. We agree with you that this is an important sector that we must teach our young people how to run and manage, as they are the future and next generation of industry leaders.
“We presently export raw materials, and we must create opportunities for youth-led manufacturing and industrial endeavours.
“In addition, mining is a costly endeavour, necessitating the creation of more funding opportunities for youth interested in entering the mining industry.
“I urged the youth to interact with a variety of investors to provide more capital, so that the youth can transform their ideas into reality and become producers and not consumers.”
He added that for the youth to take advantage of existing opportunities, they should also engage in infrastructure initiatives and engineering-related endeavours.
He also elaborated on the objective of government aimed at establishing companies that have an environmental and social sustainable model with the capacity to generate employment opportunities for the youth.
“The government and private sector should work together to develop innovative financing mechanisms, such as venture capital funds and micro-credit programmes that specifically target young entrepreneurs.
“Providing financial support at affordable interest rates can enable them to start or expand their businesses, creating jobs for themselves and others.
“We need a private sector that will be patriotic, one that will support South Africa’s and the government’s efforts to develop the people of South Africa by reinvesting capital and resources into productive assets and new industries.
“We must create an enabling policy framework encouraging private sector investment in youth-focused industries.
“We must identify and promote sectors with potential growth and job creation, such as renewable energy, technology, creative arts, and tourism,” he said.
Mashatile, who was briefly a premier of Gauteng from 2008 to 2009, said the government is strongly encouraging enterprises, particularly (owned by) young individuals, to actively participate in collaborating with the government in the generation of power and, more significantly, in supporting the enhancement of transmission capabilities.
He said: “The current initiative undertaken by the government to involve the private sector presents a favourable prospect for businesses.
“We must prioritise the creation of mass youth employment and business opportunities in South Africa.
“By implementing policies that foster entrepreneurship, enhance vocational training, improve access to finance, and encourage private-sector investment, we can empower our youth and pave the way for a prosperous future.
“As government, we value the role that youth and youth bodies, including Sayec, play in moulding our nation’s future and propelling its development.”
Follow @SundayWorldZA on Twitter and @sundayworldza on Instagram, or like our Facebook Page, Sunday World, by clicking here for the latest breaking news in South Africa.
