Tag: economic participation
Employment tax incentive amendments
In a significant move to strengthen the integrity of the Employment Tax Incentive (ETI) scheme, the government has proposed amendments to Sections 1(1) and 5(3) of the Employment Tax Incentive Act, No. 26 of 2013. The ETI, introduced in 2013, aims to encourage employers to hire young job seekers by reducing the cost of employment through a government-supported cost-sharing mechanism.
B-BBEE legal sector code transformation
The recent gazetting of the Legal Broad-Based Black Economic Empowerment (B-BBEE) Sector Codes of Good Practice (LSC) occurred on September 20, 2024. This is a significant milestone for the transformation of the legal profession in South Africa. It marks a pivotal moment, aligning with the nation’s constitutional commitment to equitable economic participation.
Driving economic growth in South Africa through strategic capital allocation and...
The formation of South Africa’s new Government of National Unity (GNU) bodes well for the consolidation of state reform and pro-growth initiatives, including better performing parastatals, such as Eskom and Transnet. Given that economic growth is essential to spur social development, I believe now is the time to act.
Hosted learnerships connect funding to job creation & growth
Skills development in the form of learnerships is an essential element of the Broad-Based Black Economic Empowerment (B-BBEE) scorecard, accounting for a significant portion of the score for large enterprises in particular. However, not all businesses have the capacity, availability, or ability to take on sufficient learners to meet their obligations.
South Africans are losing financial literacy
In the wake of COVID-19 and the accelerated digitisation of financial services, the gap between South Africans who have highly developed financial literacy and those with little or none has not just widened – it has taken on new dimensions. The consequences for South African society are dire.
Taking a future-ready approach to sustainable building and design
The construction sector must not be overlooked in the drive towards achieving net zero. While sectors such as industrial manufacturing, mining and fossil fuel power generation tend to grab more headlines, the construction of buildings and infrastructure accounts for approximately 7 Gt CO2e, or 20% of global carbon emissions, where 4 Gt CO2e is associated with the materials used for construction.
COP28 – Africa can lead the world towards a just transition
The 28th Conference of the Parties (COP28) of the United Nations Framework Convention on Climate Change draws to a close this week. For Africa, discussions at this year’s conference placed the continent as a central player that is playing an active role in actioning efforts and initiatives for a better, more sustainable future.
Stokvels show resilience despite tough economy
As a testament to the resilience and dedication of South African stokvel savers, we reveal that its customers' stokvel net deposits have increased by 42%. Since November 2019, our stokvel customers have continually increased saving via a stokvel surpassing the R8.3 billion mark in total member contributions.
Learnerships form a foundation for addressing youth unemployment
The Statistics SA Quarterly Labour Force Survey for Q2 2021 paints a grim picture of the employment landscape in South Africa – the official unemployment rate is 34.4%. Most significant of all, the unemployment rate for youth aged 15 to 24 years stood at 64.4% and the unemployment rate for those aged 25-34 years was 42.9%.
Get the best of both worlds as an employee with TES
South Africa has one of the highest unemployment rates globally, which results in significant economic challenges. It has also created a growing contingent of discouraged job seekers, who have effectively given up on trying to secure employment, which exacerbates the issue.