JOHANNESBURG - South African President Cyril Ramaphosa said on Tuesday that the Youth Employment Service (YES) will improve young people's prospects of finding employment and would help to build a more inclusive and sustainable economy.
Ramaphosa was speaking at the launch of the Youth Employment Service, an initiative between business, government, labour, civil society and young people, at the Riverside Incubation Hub in Fourways, Johannesburg.
Under the programme, businesses will create one-year paid positions for youth aged between 18 and 35 with a minimum paid stipend of R3,500 a month.
Those businesses which do not have the capacity to place more people in their organisations have the option of sponsoring the salary for a one-year placement in small and medium enterprises or to help young people start and grow their own businesses through seed funding.
Ramaphosa said that the Youth Employment Service was a timely, worthy and ambitious response to youth unemployment in the country, saying that the issue was perhaps the greatest and most pressing social and economic challenge facing South Africa at this moment in history.