- Mr Price Foundation and the NYDA have signed an MOU to expand the Foundation’s demand-led skills development programmes.
- The parties aim to accelerate the economic inclusion of more unemployed youth in retail and manufacturing.
- The Foundation is looking to share learnings and engage new employer partners.
Durban, 31 October 2024 – 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.
Interested stakeholders are invited to contact the Foundation at [email protected] to explore partnership opportunities.
THE MEDIA IS INVITED TO CONTACT MR PRICE FOUNDATION TO SCHEDULE AN INTERVIEW WITH MR PRICE FOUNDATION EXECUTIVE DIRECTOR OCTAVIUS PHUKUBYE.
FOR FURTHER INFORMATION, CONTACT
Pierre Tostee
Head of Communications
Mr Price Foundation
T: +27 83 447 9448
E: [email protected]
W: https://mrpricefoundation.org
About us: Mr Price Foundation was established in 2005 to positively influence and actively support South Africa’s national development priorities of youth unemployment and access to quality education. Our JumpStart skills development programmes and UpLift entrepreneurship programmes help youth unlock employment and entrepreneurial opportunities, while our EduRise education programme helps under-resourced schools sustainably deliver quality, holistic education. We invest significantly into building strategic relationships with stakeholders such as Mr Price Group, businesses, industry leaders, government and communities. By working in partnership with organisations that align strongly with our purpose, we find innovative solutions to effect lasting change in youth skills development, entrepreneurship and education. Mr Price Foundation is a registered non-profit and public benefit organisation.
