Building an inclusive economy starts with access for young South Africans

From Robert Gwerengwe’s Desk, CEO at WesBank

South Africa’s youth unemployment rate sits at above 46%. At this scale, youth unemployment is not simply a social challenge. It is an economic emergency. By comparison, International Labour Organisation data shows that the global youth unemployment rate is closer to 13%, making South Africa an outlier among both emerging and developed economies. No business, no sector and no economy can thrive when nearly half of its young people are locked out of meaningful participation.

When young people cannot access employment, the cost extends far beyond lost jobs. We lose innovation, energy, and the fresh perspectives that drive businesses forward. We lose future consumers who sustain economic growth. We lose social cohesion and stability, both of which are essential for long-term prosperity. While the causes of youth unemployment are complex, including skills mismatches and constrained economic growth, the outcome is the same. Millions of capable young South Africans remain excluded from opportunity, watching their potential go untapped.

This is not a problem business can afford to observe from the sidelines. South Africa is a young country, and that demographic reality represents enormous potential. If more young people were meaningfully integrated into the economy, productivity, innovation, and consumption would follow. The real barrier is not a lack of talent, but a lack of access. Access to guidance, exposure, and networks that help turn potential into progress.

It is within this context that initiatives like Movers & Mentors, launched by WesBank, aim to play a role. The campaign is designed to connect young South Africans with experienced professionals across sectors and to facilitate sustained engagement rather than one-off interactions. The focus is on practical guidance, including understanding career pathways, gaining insight into industry expectations, and building access to networks that influence opportunity.

Research consistently shows that structured work exposure and mentorship programmes improve employment outcomes for young people, particularly those from lower-income backgrounds. Mentorship provides context, builds social capital and introduces young people to the unspoken norms that shape career progression. As Robert Gwerengwe, CEO of WesBank, explains, “We have structured Movers & Mentors around the idea of mobility, both literal and economic. Just as we have spent decades helping South Africans access vehicles that expand their opportunities, we are now focused on expanding the opportunities themselves.”

At the second Movers & Mentors event, Grade 12 participants from 3 schools in Gauteng engaged directly with professionals from WesBank across a range of industries, many for the first time. Beyond CV advice, the conversations focused on real-world expectations. These included how careers unfold in practice, the skills that matter most, and the importance of networks in opening doors. For many attendees, the value lay not only in the information shared but in the act of being seen, heard, and guided by those who have navigated similar paths.

Movers & Mentors represents one expression of a broader commitment embedded in WesBank’s purpose and values. Our success is inextricably linked to the health of the society in which we operate. When communities thrive, and young people find pathways into meaningful work, the economy becomes more resilient. This commitment extends beyond a single event or campaign. It includes ongoing mentorship, continued investment in youth development initiatives and active participation in conversations about economic inclusion.

No single organisation can solve youth unemployment alone. This challenge demands collective action from business, working alongside government, civil society and young people themselves. Every organisation holds assets that can make a difference. These include professional networks, industry insight, mentorship capacity and access to real work exposure. The question is whether these resources are being deployed deliberately and at scale.

Youth unemployment will not resolve itself through market forces alone. It requires intentional and sustained intervention. Through Movers & Mentors and our broader youth development efforts, WesBank is committed to playing its part in building the economy South Africa needs. One where talent finds opportunity, potential is realised, and young people can build the futures they deserve. The question for business is simple. Are we ready to move beyond conversation to meaningful action? Our economic future depends on how we answer.

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