Mastercard has extended its partnership with the Youth Employment Service (YES), a youth employment initiative led by the private sector to tackle youth unemployment in South Africa.
YES plays an important role in providing young people with the necessary professional skills, meaningful work experience, and career prospects, preparing them for an ever-changing employment market.
With South Africa’s official 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.
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.”
Mastercard has hired 15 young professionals as part of the 2024/2025 YES intake, offering them a year of hands-on experience, industry exposure, and crucial upskilling possibilities. This effort focuses on labor readiness, economic engagement, and long-term social effect.
Ravi Naidoo, CEO of YES, said: “Empowering youth is the best endowment South Africa 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.
As the program progresses, this collaboration will continue to drive meaningful impact, unlocking opportunities that pave the way for long-term economic growth and social development.
