Mr Price Foundation And NYDA Partner To Accelerate Youth Economic Inclusion
Mr Price Foundation And NYDA Partner To Accelerate Youth Economic Inclusion. Mr Price Foundation and the National Youth Development Agency (NYDA) are pleased to announce the signing of a three-year Memorandum of Understanding (MOU) on 22 October 2024. This collaboration seeks to fast-track the economic inclusion of unemployed youth in South Africa, by broadening the reach of the Foundation’s established skills development programmes in retail and manufacturing.
The partnership draws on the combined expertise of both organisations as youth development specialists, aligning their shared passion for alleviating youth unemployment through impactful skills training. “Youth unemployment in South Africa is at a tipping point. Collaborating with the NYDA allows us to rapidly scale up our established skills development initiatives, to impact more unemployed youth and fulfil our MOU mandate of building a sustainable pipeline of opportunity for youth,” said Octavius Phukubye, Executive Director of Mr Price Foundation.
As a government agency, the NYDA leads youth development strategies and initiatives, while Mr Price Foundation, a registered non-profit founded by Mr Price Group, combats youth unemployment and promotes education through three core programmes: JumpStart (skills development), UpLift (entrepreneurship), and EduRise (education).
This partnership underscores a strong commitment from both public and private sectors to create a brighter future for South Africa’s youth. “Purpose-driven partnerships between the public and private sectors are essential to tackling the significant challenge of youth unemployment. Corporate South Africa is ready and willing to partner with government for this critical cause,” said Phukubye.
This strategic partnership is expected to strengthen the integration and visibility of youth-focused skills development investments. Karabo Mohale, Executive Deputy Chairperson of the NYDA Board, said: “This partnership is a significant step forward in our mission to fight the high levels of youth unemployment by providing skills development aligned with industry needs. Working alongside Mr Price Foundation will enable us to expand opportunities for young people in a more strategic and sustainable way. Through initiatives like these, we’re ensuring that South Africa’s youth are not only job-ready but also equipped to thrive in a dynamic economic landscape.”
As a leading youth skills development entity, Mr Price Foundation offers a suite of well-designed programmes targeting the retail and manufacturing sectors. Unemployed youth are equipped with industry-specific skills, life skills, and practical work experience, making them valuable additions to the job market. Graduates of the Foundation’s flagship JumpStart programme enter the retail industry’s talent pipeline, linking them with employment opportunities in the sector.
Between 2015 and 2023, JumpStart impacted 57,592 unemployed youth, with 53% of them (30,517 candidates) securing employment post-training. In the 2024 financial year alone, JumpStart developed 7,252 youth, with an impressive 90% securing employment. “This significant absorption rate into permanent roles speaks to the power of building economically resilient skills aligned with market needs. Our model is demand-driven, increasing the likelihood of employment post-training,” Phukubye stated.
Through deep industry integration and robust partnerships with employers like Mr Price Group and SPAR, the Foundation has established a strong model for youth empowerment. Both organisations hope that in scaling the delivery of the Foundation’s market-driven programmes, this collaboration will fast-track the economic inclusion of more unemployed youth. To expand the reach of this partnership and maximise collective efforts, the Foundation is looking to build strategic partnerships with new stakeholders. “We are eager to share our approach with new employer partners across retail and beyond. Together, we can expand learning and work opportunities for South Africa’s youth,” Phukubye concluded.
