MTN Group commits to creating 1 000 jobs in support of YES initiative
MTN Group today confirmed its support of the Youth Employment Service (YES) and has committed to the creation of 1 000 jobs within the first year of the initiative.
In March, President Cyril Ramaphosa launched YES, a business-led collaboration with government and labour, which aims to empower one million young South Africans by offering paid quality work opportunities over the next few years.
MTN will be creating the 1 000 jobs across its South African business and Group head office, covering both operational and functional roles.
"YES is an innovative social partnership that has the potential to be a significant catalyst for economic growth and development," says MTN Group President and CEO, Rob Shuter.
"MTN loves fresh and bold solutions and that's what YES is bringing to South Africa's unemployment crisis. We're proud to be a supporter of the YES programme and look forward to welcoming more companies to the YES Team so that together, we can drive sustainable change for the unemployed youth of our country," Shuter says.
Tashmia Ismail-Saville, CEO of YES, says the success of the initiative now lies in bringing scale to the operation.
"Research has consistently shown that young people, with at least a year of paid work experience, are significantly more likely to secure permanent employment after that first year. South African business holds in its collective hands the chance to turn the tide on the scourge of youth unemployment and we are very pleased to welcome MTN Group as one of the forerunner companies to Team YES," Ismail-Saville says.
"The return on the investment in creating pathways for youth that are currently locked out of the economy will be a significant return for all businesses, in the longer term. On the other hand, the costs of ignoring six million of our marginalised youth will be a far higher price to pay for our economic future," she adds.
YES is supported by government and the initiative is individually cited in the proposed amendments to the B-BBEE (broad-based black economic empowerment) Codes of Good Practice. Business and the public are encouraged to give input and comments on these amendments. Comments will be accepted until 29 May 2018.
On 29 March 2018, the Minister of Trade and Industry issued the Reviewed Statement 000 and 300 of 2018 in terms of section 9 (5) of the B-BBEE Act 53 of 2003 as amended by Act 46 of 2013.
Key to the proposed amendments introduced in the statement was the YES B-BBEE recognition and a ring-fenced point indicator on the skills development scorecard for a 2.5% spend target on bursaries for black students attending higher education institutions.
Following preliminary comments received since the Gazette on 29 March 2018, the DTI agreed to delink YES and the Bursary target of 2.5%.
The DTI will be hosting Advocacy sessions on the Reviewed Statements during May 2018.
Launched in 1994, the MTN Group is a multinational telecommunications group, operating in 21 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: "MTN".
As at the end of 30 June 2010, MTN recorded 129.2 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d'Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo Brazzaville), Rwanda, South Africa, Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. The MTN Group is a global sponsor of the 2010 FIFA World Cup South Africa and has exclusive mobile content rights for Africa and the Middle East. Visit http://www.mtn.com and http://www.mtnfootball.com.