PUBLICATION: FaNews
Ninety One is delighted to partner with the Youth Employment Service (YES) to provide each of the finalists of the inaugural YES Top 35 Under 35 Awards with a seed investment of R10 000 into a Ninety One Retirement Annuity.
The awards programme, powered by Daily Maverick, seeks not only to highlight high-achieving and successful YES Alumni, but will also provide career development and mentoring opportunities to the successful candidates for one year.
YES is the highest impact 12-month, full-time youth employment programme in South Africa, injecting R8.8 billion into the economy through youth salaries alone, and boasting a post-programme employment rate of around 45%. This initiative is a critical intervention to counter a major challenge facing SA, as the country battles a youth unemployment rate of 56% (ages 15-34, expanded definition).
Narassa Govender, CSI Director at Ninety One, says that the seed investment celebrates the achievements of these outstanding individuals and will help kickstart their financial journey. “It is our sincere hope that this investment will encourage these talented young South Africans to become lifetime investors, thus securing a better future for themselves and inspiring others to follow suit.”
It is fitting that the underlying fund for this seed investment is the Ninety One Opportunity Fund, because this is what these exceptional young leaders have done – taken the opportunity that the YES programme presented to them and run with it.
‘We are proud to partner with the YES programme as they help address the high rate of youth unemployment in South Africa. Their programme also solves for the catch-22 of youth needing work experience to find a job and needing a job to get work experience,’ continues Govender.
‘We are impressed by the innovative and creative way in which the programme is implemented and we are encouraged by the increasing focus on equipping youth for jobs of the future. This includes providing opportunities in the technology sector and the green economy. Ninety One believes in investing for a better tomorrow and driving sustainability with substance. Our contribution to the YES awards in the form of a kickstart to the youth’s investment journey, aligns with other financial literacy programmes we’ve undertaken like our Women and Investing initiative and our consumer education series broadcast on Umhlobo Wenene.’
In addition to the investment, Ninety One will present a workshop on financial education and investing to a masterclass that takes place on the day of the awards ceremony. This masterclass will be made available to the almost 160 000 YES Youth and alumni.
Ravi Naidoo, CEO of YES, said: ‘Ninety One's much appreciated investment in the Top 35 under 35 Alumni will substantially empower their financial futures and career paths. We are proud to have them on board and as educators for our youth alumni in financial independence.’