DURBAN, 9 April 2024: An impact investment strategist has been appointed as the new Executive Director of Mr Price Foundation, which was established 19 years ago to address South Africa’s national development priorities of youth unemployment and access to quality education.

Phukubye has an impressive track record, with over 16 years’ experience managing and leading strategy, transformation and economic development projects cutting across consulting, fast-moving consumer goods (FMCG), banking and mining industries.

His prior roles include Managing Director of IDF VAS, Vice-President of Supplier at ABSA, Economic Development Manager at SAB, and Management Consultant at Accenture South Africa.

He is also a former entrepreneur, having founded Brillianaire (sold to IDF Capital), and Hatchfy, and led the delivery of impact programmes for Glencore, Shell, Takealot and Rand Mutual Assurance.

“Although Octavius’ career and experience speaks for itself, what stood out is his passion for Mr Price as a brand, and his energy and enthusiasm to create the same love that South Africans have for Mr Price, for Mr Price Foundation. We look forward to growing the impact of the Foundation, with Octavius leading the way,” said Janis Cheadle, ESG Director & Company Secretary at Mr Price Group.

Phukubye will draw on his depth of experience to create hope for youth through Mr Price Foundation.

“I am thrilled to join Mr Price Foundation,” Phukubye said. “The Foundation’s dedication to empowering South Africa’s youth through education, entrepreneurship and skills development deeply resonates with me. South Africa is in the grip of a persistent youth unemployment crisis. Having the opportunity to make a difference at such a critical moment is incredibly motivating,” Phukubye said.

South Africa’s youth are extremely vulnerable in the labour market, with 44.3% or 4,7 million unemployed youth (aged 15 to 34 years), according to Stats SA Quarterly Labour Force Survey Q4: 2023.

This makes the work of the Foundation in skills development, education and entrepreneurship even more significant.

As a youth development organisation, the Foundation unlocks employment and entrepreneurial opportunities through its JumpStart, UpLift and HandPicked programmes, while it focuses on education through its EduRise programme. Mr Price Foundation invested R22.34 million in youth skills development and R9.74 million in education in the 2023 financial year.

“I am eager to collaborate with different stakeholders to empower South Africa’s youth through demand-driven programmes in skills development, education and entrepreneurship. We aim to create multiple pathways towards economic opportunities and socio-economic transformation,” said Phukubye.

As Executive Director, Phukubye will prioritise the following focus areas:

• To scale impact and strategically expand the reach of the Foundation’s programmes to empower even more young South Africans.
• To collaborate and build meaningful and strong partnerships with the public and private sectors to maximize collective efforts.
• To ensure the long-term sustainability of the Foundation through responsible resource management and fundraising strategies.
• To innovate and adapt to ensure programmes remain relevant, using data-driven impact measures.

Phukubye’s appointment is an important milestone for the Foundation and will help ensure that the Foundation continues to expand its impact in youth development.