Tag: job creation

Google is betting big on South Africa’s digital future. It is projecting R90 billion in economic output resulting from its new Johannesburg cloud region.

After the false start of 19 February, Finance Minister Enoch Godongwana tabled the 2025 Budget on 12 March. The main tax policy proposals include raising the Value Added Tax (VAT) rate by 0.5% in each of the next two years. This will bring VAT to 16% in 2026/2027. It will be accompanied by no inflationary adjustments to personal income tax brackets, rebates, or medical tax credits.

As the World Economic Forum (WEF) continues to spotlight the future of work, South Africa faces a unique challenge. The country must address the evolving demands of the 4th Industrial Revolution (4IR).

The South African Revenue Service (SARS) increases customs duties for online retail orders as part of a broader strategy to promote local businesses and address global supply chain imbalances. The clothing and textile industry has faced widescale criticism for controversial environmental, social, and governance (ESG) practices. South African consumers may imagine themselves to be far from the hub of these issues. However, we are all participants in the global supply and demand for fashion.

The first six months of the financial year were highly successful for the Group. Naspers accelerates growth with operations achieving topline growth of 24%. Consolidated e-commerce revenue reached US$3.3 billion during this period. Importantly, e-commerce adjusted EBIT increased fivefold to US$169 million.

Austerity does not need to mean suffering. Cutting public spending is urgent to address South Africa’s growing debt. Delaying cuts will only worsen debt and interest payments, making future cuts more severe. Reducing spending needn’t harm South Africans, as many wasteful expenses can be removed. In 2023, the Democratic Alliance (DA) estimated that the African National Congress (ANC)-led departments wasted around R40 billion in 2022/23 alone.

Africa is making slow, steady progress towards energy security, which will only be enhanced through collaboration. Energy access is undeniably one of the most crucial components of modern day living. Reliable energy supply ensures that economies are growing by supporting critical industries like mining, manufacturing, agriculture, healthcare and education, while improving the lives of billions of people.

The solution to youth unemployment and the skills crisis lies in upskilling and empowering youth with future digital skills. Relevant digital skills should be developed before they enter the workplace. ICT certifications alone are not enough to meet the rate of change in the workplace. They also cannot secure sustainable job creation. South African companies hiring young people with practical skills will succeed. These skills should meet current and future business demands.

For mining companies, social labour planning (SLP) should be more than a tick-box exercise when applying for a mining licence. If approached strategically, it is a powerful tool for fostering economic prosperity by building a skilled and diverse workforce.

South Africa stands at a critical juncture, facing a confluence of challenges and opportunities that will shape its future. One of the greatest opportunities lies in retaining its young graduate professionals, who are a vital resource for driving the nation's growth and development.