As part of Nedbank's commitment to the Youth Employment Service, it will place 3 315 youth through its skills development programme.
According to statement from the bank, Nedbank will provide job opportunities for youth – those aged between 18 and 29 – at the bank and its placement partners WILDTRUST, Tradeway, UnlockD and ORT SA.
The bank on Friday officially signed the YES CEO pledge to provide qualifying youth with paid work experience over the next 12 months, starting May 2019. Youth participating in Nedbank's programme, in partnership with YES, will receive training to equip them with skills to enter the job market once the training programme is completed.
The YES initiative which seeks to address youth unemployment, was launched by President Cyril Ramaphosa in March 2018 and it is a joint initiative between government, business, labour and civil society.
SA's unemployment rate is at 27.1%. More than half (53%) of those who are unemployed are youth.
Speaking the pledge ceremony at the Tembisa YES Green Engine
hub, YES CEO Dr Tashmia Ismail-Saville encouraged other companies in the
country to join the YES pledge.
"Nedbank has taken on the YES project in the true spirit of country building. They have gone over and above their own recruitment needs to create thousands of jobs in the most vulnerable of communities, thereby bolstering community-based programmes with deep impacts," she said.
Nedbank Group CEO Mike Brown spoke on the importance of the
partnership with YES as it is aligned to Nedbank's transformation goals. "We
know that the task of transforming our society and our economy is not an easy
one. Government cannot do it alone, business cannot do it alone and Nedbank
cannot do it alone.
"Transformation is much more than compliance with the codes; it’s a moral and business imperative to contribute to a sustainable future for all," he said.