In a bid to address youth unemployment in South Africa, Mastercard has extended its collaboration with the Youth Employment Service (YES), a private-sector led youth employment initiative, for the third consecutive year.
YES plays a crucial role in equipping young people with essential skills for the workplace, quality work experience and career opportunities, preparing them for the evolving job market. Through this continued collaboration, Mastercard and YES are empowering the next generation of leaders and contributing to sustainable economic growth.
According to Mastercard, the young professionals are placed in various functions, such as P&C, customer technical services and product and solutions to gain solid work experience and enhance their employability. Jaco van den Berg, director of products and solutions for SAEM at Mastercard, has also been running weekly masterclasses since January to upskill the youth on payment-related topics and Mastercard products.
In a joint statement, the two institutions highlighted that with SA’s unemployment rate at 31.9% and youth unemployment at 44.6% in the third quarter of 2024, the need for sustainable employment solutions remains a national priority. Strategic initiatives like this partnership are essential in building a resilient workforce and fostering economic progress.
As part of the 2024/2025 YES intake, Mastercard has welcomed 15 young professionals into its workplace, providing them with a year of hands-on experience, industry exposure and critical upskilling opportunities. This initiative supports workforce readiness, economic participation and long-term social impact.
Mastercard added that the young professionals have access to all Mastercard learning resources, such as LinkedIn learning and internal online training, while YES offers a learning journey that includes modules on work readiness, entrepreneurship and digital solutions. These modules can be accessed through the digital YES portal.
Gabriel Swanepoel, country manager at Mastercard Southern Africa, said: “At Mastercard, we believe that empowering young talent is key to driving inclusive economic growth. Our continued collaboration with YES reflects our commitment to equipping South Africa’s youth with the skills, experience and opportunities they need to succeed in today’s workforce. By investing in the next generation, we are not only shaping future leaders but also contributing to a more resilient and prosperous economy.”
Ravi Naidoo, CEO of YES, said empowering the youth is the best endowment SA can make to ensure a more sustainable future.
“Young people have the potential to drive economic growth, innovation and social progress. However, without access to skills and sustainable employment, this potential remains untapped. Our continued partnership with Mastercard reinforces our commitment to equipping young talent with valuable experience in the global payments industry.”
Through its continued collaboration with YES, Mastercard reaffirms its commitment to fostering sustainable employment solutions and equipping young South Africans with the skills needed to thrive in a dynamic job market.
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