Facilitated by non-profit organisation Junior Achievement South Africa, the programmes combined market-relevant skills training, mentorship, and access to micro-finance to help young women better their lives, transition to sustainable livelihoods, and play an enlarged role in South Africa’s economic recovery., research shows that unemployment among women – particularly black women – remains continually higher than men.
The Youth Enterprise Development Programme targeted out-of-school, and unemployed young women looking to start a business. Over the 10-month long incubator style programme, the women learnt business theory and gained practical business experience by starting up and managing their own businesses. Graduates from the programme received a NQF level 4 Services Seta Accredited Youth Enterprise Development Certificate and the IBM SkillsBuild Digital Literacy Certificate.
Zinhle Nkosi, CEO and founder of Uthingo Olusha, said that the Mastercard and JA South Africa 2021 programme has been a steppingstone to boost her business. “The programme afforded me the opportunity to deepen my understanding of the world of business. Thanks to the skills I gained, I was able to grow my business and provide jobs to empower others in my community. Partnerships like these are important in breaking the cycle of unemployment and uplifting women.
Recognising the need to address this gap. Mastercard is acting to curb entrepreneurial inequality through its global commitment to connect 25 million women-owned small businesses to the digital economy by 2025. As part of this effort, there will be a direct focus on providing women entrepreneurs with solutions that can help them grow their businesses including funding, mentoring and the development of inclusive technologies.