Youth Month - Empowering the future, today
June is Youth Month, and South Africa shines a spotlight on its youth – acknowledging their struggles, celebrating their achievements, and amplifying their voices. At AVBOB, we proudly stand with the country in honouring young people not just this month but every day – recognising their vital role in shaping our organisation and society at large.
As a mutual society, AVBOB exists not to serve shareholders but to serve its members: our policyholders and the communities in which they live. This allows AVBOB to reinvest in people and create meaningful opportunities for them. Backed with eight consecutive Top Employer awards, AVBOB has built a reputation as a workplace where talent, including young people, can thrive.
Creating opportunities for the youth
AVBOB understands the significant challenges that South African youth face, particularly when it comes to unemployment. This informs the learnerships and internships that AVBOB designs to give young people hands-on experience and a foot in the door. We encourage the youth to regularly visit our website (www.avbob.co.za) and follow our social media platforms to stay informed about these opportunities and about permanent job openings available nationwide.
Empowering young entrepreneurs
Beyond employment, AVBOB is also passionate about entrepreneurship. Through our Enterprise and Supplier Development (ESD) Programme, we support small and growing businesses, helping them access the tools they need to succeed, such as funding, market access and skills development. This initiative doesn't just help individual entrepreneurs; it strengthens the broader economy.
Launched in 2021, the ESD Programme focuses on collaboration and long-term impact. Through partnerships with inspiring entrepreneurs like Neo Monareng (founder of Gadifele Communications) and Sibusiso Sibanyoni (founder of Kandee.co), AVBOB contributes to offering young business owners benefit not only from access to markets and infrastructure but also from vital business expertise and continuous professional guidance.
Introducing Groundbreakers: A youth employment solution
In 2025, AVBOB introduced an exciting new initiative under the ESD Programme, specifically designed to address youth unemployment. The Groundbreakers initiative creates short-term job opportunities for young people aged 18-35 by placing them at AVBOB Funeral Service branches, starting with three in Mahikeng, Temba and Tzaneen, respectively.
Their role involves assisting with essential grave services such as grave opening and closing, grave site cleaning, and other related grave site services in the surrounding communities. Importantly, they will be remunerated for their contributions, while gaining work experience, community respect and economic participation.
The Groundbreakers initiative demonstrates how business-led solutions can drive meaningful change in line with United Nations Sustainable Development Goal (SDG) 8: Decent work and economic growth. AVBOB is committed to advancing job creation, empowering local talent, and fostering inclusive economic participation that aligns with the SDGs, reflecting AVBOB 's values of building resilient communities and driving long-term socio-economic impact.
At AVBOB, Youth Month is more than just a commemoration – it's a call to action. Whether it's through employment, enterprise support, or empowerment initiatives like Groundbreakers, AVBOB remains committed to investing in the future of South Africa: its youth.
ABOUT AVBOB MUTUAL SOCIETY
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
IOL News
4 hours ago
- IOL News
Macroeconomic uncertainty drags South Africa's manufacturing sector into deep decline
According to Statistics South Africa (Stats SA) on Tuesday, the decline was broad based and was driven by contractions in nine out of 10 manufacturing divisions. Image: Simphiwe Mbokazi/Independent Newspapers Economists have warned that the ongoing macroeconomic and policy uncertainty will continue to leave operating conditions unfavourable for manufacturing production and drag the sector's contribution to South Africa's economic growth. This comes after manufacturing output fell 6.3% year-on-year in April following a revised 1.2% contraction in March. This was the sixth consecutive monthly contraction and the sharpest drop since March 2024. Maarten Ackerman, chief economist at Citadel, expressed deep concern over the sector's trajectory, emphasising its vital role in job creation and economic stimulation. Manufacturing remains one of the few sectors in the South African economy with significant potential to create jobs, stimulate broader economic growth, and provide opportunities for the unemployed. In 2024, the manufacturing sector contributed 13% to South Africa's gross domestic product (GDP). with the sector's nominal GDP forecast to grow by an average rate of 5.7% per annum over the next decade. This sector also employs over 1.6 million people and is a significant driver of the country's export economy. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading South African industries have benefited from high carbon intensity and lower export prices, but the European Union's Carbon Border Adjustment Mechanism (CBAM) and similar policies will erode this advantage, leading to higher costs, lower demand and increased pressure from EU importers for carbon footprint and sustainability compliance. However, Ackerman said the sector continued to grapple with deep-rooted structural challenges. He said these included unreliable electricity and water supply, as well as ongoing issues with the country's logistical infrastructure, particularly the rail network, freight trains, and port systems. 'These constraints are effectively limiting the sector's capacity to expand. While this data reflects monthly high-frequency indicators, it aligns closely with quarterly trends showing that manufacturing is no longer a driver of economic growth, Ackerman said. 'Since the 2008 global financial crisis, the industry has largely failed to contribute positively to South Africa's GDP. In fact, manufacturing output volumes have stagnated, returning to levels last seen in early 2010. Over the past 15 years, the sector has shown no real growth.' Ackerman said this unfortunate trend underscored a broader issue: South Africa's urgent need for fixed investment to tackle these structural barriers. 'Without meaningful and sustained investment, the country will struggle to unlock higher, more inclusive, and sustainable economic growth,' he said. According to Statistics South Africa (Stats SA) on Tuesday, the decline was broad based and was driven by contractions in nine out of 10 manufacturing divisions. Nicolai Klaassen, director of industry statistics at Stats SA, said the food and beverages and metals and machinery divisions were the largest negative contributors to the print. 'Together, the two divisions subtracted 3.2 percentage points from overall manufacturing growth. Four divisions contracted by more than 10%. These were electrical machinery, the automotive division, communication and professional equipment, and the miscellaneous category, furniture and manufacturing not elsewhere classified,' Klaasen said. 'Glass and non-metallic mineral products was the only division that recorded positive growth, expanding by 2.3% year-on-year.' On a month-on-month basis, seasonally adjusted manufacturing production increased by 1.9% in April compared with March, marking a moderately better start to the second quarter of 2025. On a quarterly basis, industrial production contracted by 1.4% in the three months to April. The manufacturing sector's lacklustre outcome is in line with the performance of the ABSA Purchasing Managers Index (PMI). Specifically, the PMI index moved further into contractionary territory in April, with both the business activity and new sales orders' indices declining. Broad-based weakness in manufacturing activity has persisted through the first four months of the year, with output down by 3.4% compared to the same period last year. FNB senior economist Thanda Sithole said the persistent annual decline underscored ongoing unfavourable operating conditions and was consistent with their assessment of downside risks to the near-term economic growth outlook. 'Operating conditions for domestic manufacturers remain unfavourable, as reflected in the continued decline in the manufacturing PMI. While the manufacturing PMI expected business conditions index improved to 62.5 points in May from 48.6 in April, indicating better near-term sentiment, conditions remain fluid amid ongoing macroeconomic and policy uncertainty,' Sithole said. 'Domestic demand, particularly private sector fixed investment, remains weak, and external economic conditions are not conducive to growth in manufacturing merchandise exports.' BUSINESS REPORT
IOL News
5 hours ago
- IOL News
Did SA bend BEE rules for Elon Musk's Starlink? Ramaphosa says no
President Cyril Ramaphosa denied relaxing BBBEE to benefit South African-born tech billionaire Elon Musk after his visit to the US. Image: Presidency President Cyril Ramaphosa has again poured cold water on claims that South Africa proposed relaxing its black empowerment rules solely for Elon Musk's Starlink, despite the move coming days after his meeting with US President Donald Trump last month. 'Our visit to the United States did not focus on issues of Black Economic Empowerment,' Ramaphosa told Parliament on Wednesday afternoon. 'It focused on resetting the relationship with the United States and ensuring that we continue open conversations with our major trading partners.' He was responding to a question from Nicholaas Hendricks Pienaar of the Democratic Alliance (DA) in Limpopo. Pienaar asked whether the Government of National Unity (GNU) should revise Broad-Based Black Economic Empowerment (BBBEE) policies to attract more international investment and stimulate economic growth and job creation. Ramaphosa reiterated the government's commitment to economic transformation. 'Our commitment to black economic empowerment, as expressed through various policy documents and statements, remains steadfast,' he said. 'Through the Statement of Intent signed by various parties in the GNU, we are committed to translating the values of our Constitution into reality - particularly social justice, redress, and equity.' Last month, IOL News reported that, just days after a high-level meeting at the White House, attended by South African billionaire Johann Rupert and Tesla CEO Elon Musk, the South African government appeared to be easing regulations to facilitate the entry of Starlink, Musk's satellite internet service. The alleged shift in policy has sparked debate over the influence of global business elites on national legislation and whether diplomatic lobbying is steering South Africa's tech and telecommunications framework. Rupert, citing rising crime and economic stagnation, called for Starlink's launch to be fast-tracked. 'We need Starlink in South Africa,' he said. Meanwhile, Ramaphosa pointed to the Constitution's Equality Clause as a foundation for transformation policies like BBBEE. 'There are a number of measures that the Equality Clause calls on us to embark on - legislative measures to protect or advance persons disadvantaged by unfair discrimination,' he said. He emphasised that the BEE Act remains a central lever for inclusive, sustainable growth. 'We must dispense with the false notion that we must choose between transformation and growth,' Ramaphosa said. 'Black economic empowerment is not only compatible with investment and growth - it is essential to achieving broad-based prosperity.' Ramaphosa added that BEE should not be seen as a project for a select few. 'It must be a national project. Everyone, including those who benefited under apartheid, must be involved,' he said. 'Failing to do so risks economic stagnation.' In a follow-up question, Pienaar asked Ramaphosa if he would support foreign investments like Starlink without requiring a 30% ownership stake for local partners. However, Ramaphosa responded by pointing to the country's equity-equivalent model, which allows foreign companies that cannot meet direct ownership requirements to instead contribute to transformation initiatives. 'For offshore-based companies with global ownership structures, we've come up with an innovative, equity-equivalent solution,' Ramaphosa said. 'They embark on initiatives that support transformation and get involved in economic development without handing over equity. And many have embraced this approach.' He added that while South Africa is not unique in requiring local ownership, it may be the only country offering a flexible equity-equivalent system - which many multinational companies have welcomed. 'We are not averse to coming up with good solutions, so long as there is commitment to transformation,' Ramaphosa said. 'That, to us, is not negotiable.' He reiterated the historical rationale for transformation policies. 'Our economy was structured for the benefit of a white minority,' he said. 'They passed laws to exclude others, even from menial jobs. We are turning the tables. We want all South Africans to benefit, not just a few.' [email protected] IOL Politics
IOL News
5 hours ago
- IOL News
S&P downgrades South Africa's growth forecast for 2025 as economic challenges persist
S&P emerging markets chief economist, Elijah Oliveros-Rosen, said on Wednesday that they had lowered their growth projection for South Africa by 20 basis points (0.2 percentage points), mainly due to weaker-than expected activity so far this year Image: File. S&P Global Ratings has downgraded South Africa's economic growth forecast for 2025 following a subdued gross domestic product (GDP) print in the first quarter. The South African economy kept its head above water in the first quarter of 2025, expanding by a marginal 0.1% compared with the fourth quarter of 2024. Six of the 10 industries on the production (supply) side of the economy recorded negative gains, with mining and manufacturing being the biggest drags in the first quarter. Mining weakened by 4.1%, with platinum group metals the most significant negative contributor. Coal, chromium ore, gold, copper and nickel also disappointed. Iron ore, manganese ore and diamonds recorded gains, but not enough to lift the industry into positive territory. Manufacturing activity also slowed on the back of weaker production levels for petroleum and chemicals, food and beverages, and motor vehicles and other transport equipment. After a 310-day hiatus, load shedding returned in the first quarter. This contributed to a 2.6% decline in electricity, gas, and water, marking the largest contraction since the third quarter of 2022. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ S&P emerging markets chief economist, Elijah Oliveros-Rosen, said on Wednesday that they had lowered their growth projection for South Africa by 20 basis points (0.2 percentage points), mainly due to weaker-than expected activity so far this year. 'We revised our 2025 GDP growth projection for South Africa to 1.1% from 1.3% previously due to weaker-than-expected GDP print,' Oliveros-Rosen said. 'The initial positive impact of a recovery in agricultural output late last year is fading, as well as the boost to consumption from the introduction of a Two-Pot retirement system. For those reasons, we expect growth to remain relatively muted in the remainder of 2025.' This S&P growth forecast is in line with the South African Reserve Bank's latest projection of 1.2% this year, which is expected to rise to 1.8% by 2027, amid declining mining and manufacturing output and rising unemployment. Answering oral questions in the National Council of Provinces on Wednesday, President Cyril Ramaphosa said the government needed to grow the economy at a much faster rate if it was to make inroads in the longstanding unemployment challenge. 'That is why we are moving forward with our far-reaching economic reform programme through Operation Vulindlela, and deepening collaboration across government, business, and civil society to deliver at greater scale and with greater impact,' Ramaphosa said. Operation Vulindlela is a joint initiative of the Presidency and National Treasury to accelerate the implementation of structural reforms and support economic recovery by modernising and transforming network industries, including electricity, water, transport and digital communications. After the tabling of the National Budget last month, S&P projected real GDP growth to pick up slightly to 1.3% this year from 0.6% in fiscal 2024, saying more private sector-driven electricity supply was coming onstream and last year's drought was not repeated. Anchor Capital economist, Casey Sprake, reiterated that GDP growth was just 0.1% quarter-on-quarter in the first three months of the year amid persistently weak business confidence, policy uncertainty, and low fixed investment. 'Structural reforms, particularly those under the newly launched Operation Vulindlela II, must urgently gain traction if South Africa is to shift from stagnation to inclusive, job-rich growth,' Sprake said. However, S&P had warned that growth will be limited by potential US tariffs and global tariff-related risks, both via direct and secondary effects such as slowing demand from China for key commodities. In the third quarter's economic outlook for emerging markets published on Wednesday, Oliveros-Rosen said while tariffs' direct impact was modest so far on emerging markets, they expected the indirect impact – slower global demand and softer investment due to trade policy uncertainty – to become more noticeable in the coming quarters. Oliveros-Rosen said significant downside risks included potential for higher oil prices amid the escalation of the conflict in Iran, a weaker-than-expected US economy, more upside pressure on long-term US treasury yields, and challenging fiscal dynamics across several emerging markets. 'We have revised up our 2025 GDP growth projections for most emerging markets (from our April update), in large part due to less severe US tariff assumptions. Our 2025 real GDP growth forecast for emerging markets excluding China is 20 basis points higher for 2025, at 4.2%,' S&P said. 'We made the largest upward revisions to Argentina, Brazil, and Peru (40 basis points each), driven by a less adverse US tariff profile and stronger-than-expected growth in the first quarter. For most of the other emerging markets, our upward 2025 growth revisions were by about 20 basis points.' BUSINESS REPORT
