Jul 6, 2015
Social unrest, political turmoil, frequent power outages and other economic headwinds have all combined to bring South African consumer sentiment to a 14,5-year low. Results from the 2Q2015 FNB/BER Consumer Confidence Survey show that consumer sentiment booked its largest drop since 2008 to reach a level of -15 in the second quarter. Consumer confidence had already declined from zero to -4 index points during the first quarter of 2015. The latest index number is not only far lower than the lowest reading recorded during the 2008/09 financial crisis and recession (-6), but it is also only the second time since South Africa’s first democratic election in 1994 that the CCI has dropped below -12 index points.
Jun 30, 2015
While unemployment across the board in South Africa is increasing, the youth aged 15 to 34 have borne the brunt of the global economic crisis and the subsequent sluggish employment recovery with a higher unemployment rate than adults. According to Statistics SA’s report, National and provincial labour market: Youth – Q1: 2008 – Q1: 2015, the unemployment rate among youth rose from 32,7% in 2008 to 36,1% in 2011, and has remained between 35% and 37% every year.
Jun 29, 2015
A new programme that focuses on teaching young people Web programming and entrepreneurship will ultimately tie up with similar initiatives to make Johannesburg a smarter and more innovative city. The programme is a partnership between SAP, Simplon and the Sci-Bono Discovery Centre in Newtown and aims to advance youth skills development among graduate students from previously disadvantaged backgrounds. David Kramer, CEO of the Sci Bono Discover Centre, says the programme could ultimately link up with Wits University’s Tshomolong Precinct in Braamfontein to form a digital corridor and exchange resources.
