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Overview
Absa is dedicated to fostering a new generation of entrepreneurs. By promoting increased entrepreneurial attitudes and thinking, we aim to empower an entrepreneurially minded youth and population. Our initiatives drive an entrepreneurial mindset and foster intent, which is envisaged to result in entrepreneurial action. Based on the understanding of entrepreneurship's key role in countries' and economies' growth and development, our efforts will help to create much-needed jobs. We believe in enabling the youth to be enterprising and proactive. Our efforts are specifically focused on boosting the number of formal businesses owned by the youth and women, creating a dynamic and inclusive entrepreneurial ecosystem.
Entrepreneurship Education Pillars
Mindset
This pillar’s goal is to cultivate an entrepreneurial way of thinking in young people. Targeting the youth in high school and higher-education institutions, as well as those who are not in education, employment and training (NEET), this pillar provides hands-on entrepreneurship training and exposure. Some of the programmes culminate in regional and national competitions and pitching drives.
Intent
This pillar transitions the youth from an entrepreneurial mindset to intent. Related initiatives are targeted at young people who have passed the entrepreneurial mindset stage and have the intent to explore entrepreneurial practices as options for economic activity. Initiatives are delivered through further exposure and training to entrepreneurial practices and insights.
Action
Moving from entrepreneurial intent to action, this pillar supports the youth in launching and scaling their businesses. Related initiatives are delivered in partnership with other entrepreneurial support stakeholders and focus on enhancing abilities at entrepreneurial action stage, business development and formalisation.
Unlocking Potential: Addressing Youth Unemployment in South Africa By Makano Morojele
South Africa stands at a critical juncture in its pursuit of sustainable and inclusive economic growth. One of the most pressing challenges we face is youth unemployment, which not only hampers individual potential, but also hinders the development of our nation as a whole. As an active force for good, Absa recognises the urgent need to address this issue head-on.
For Makano Morojele, Corporate Citizenship: Head of Education and Youth Employability at Absa, understanding the causes and barriers of youth unemployment is imperative to being able to address this critical issue. Moreover, she emphasises the transformative role that Absa and its partners can play in driving impactful change. Change that, while enabling a social impact has to drive economic value, aligning to business strategy and purpose as well as priorities within the ESG framework, which according to Morojele, set the direction of travel and help to define the outcomes and goals to be achieved.
Initiatives
Junior Achievement South Africa (JASA)
Our partnership with Junior Achievement South Africa (JASA) delivers hands-on, immersive entrepreneurial learning to high school students in Grades 10 and 11 across the country. The programme delivered entrepreneurial education to approximately 1 000 beneficiaries in 2024, . The programme primarily targets young people between 14 and 18 years old from disadvantaged backgrounds, with over 80% coming from lower-quintile schools.
Allan Gray Makers Initiative
The Allan Gray Makers Initiative focuses on developing entrepreneurial skills among TVET students by equipping them to think and act like entrepreneurs. The Makers Launchpad engages students through on-campus competitions and training, while the Makers Start-up Academy helps TVET graduates to formalise their businesses.
Young African Entrepreneurs Institute (YAEI)
The Young African Entrepreneurs Institute (YAEI) programme connects young entrepreneurs with like-minded peers while building their capacity and skills through a Youth Entrepreneurship Tour at universities and technical and vocational education and training (TVET) institutions across the country. The programme also delivers an annual Youth Entrepreneurship Week, which takes place during Global Entrepreneurship Month and hosts more than 1 500 young entrepreneurs from across the country.
Absa Chair of Entrepreneurship (GIBS)
The Absa Chair of Entrepreneurship is a Pan-African initiative aimed at fostering entrepreneurship in the youth across Southern, East and West Africa. In collaboration with the Gordon Institute of Business Science (GIBS), it focuses on developing a school-based incubation model and conducting practice-based research to inform entrepreneurial activities.