Despite the economic hardships presented by Covid-19 restrictions, constant lockdowns and South Africa's high unemployment rate, the private sector is stepping in to ensure South African youth are equipped with the skills, digital expertise and progressive mindsets that will create a better future for the nation.
Through the Red & Yellow Bursary Programme, 74 South African youths have been awarded with bursaries to further their tertiary education at the Red & Yellow Creative School of Business, one of Africa’s leading private higher education institutions.
A total of R7.5m bursaries has been awarded, 50% of which has been sponsored by corporate brand partnerships with leading corporate companies, which include adidas, a pan-African broadcaster and a global automotive giant, leading to the creation of employment opportunities for gifted South African youths.
Corporate sponsorships afford students the opportunity to invest in their future by becoming the creators, inventors, leaders and entrepreneurs of the 21st century.
One of our bursary students, Anganathi Beyile who is completing his BCom in marketing, shares his experience and the positive impact the bursary has on his future:
“The bursary has given me an opportunity to focus on my studies as I don’t have to worry about finances and living allowances. Once I am done with my degree, I would like to start my own agency to showcase creative talent and to tell people’s stories,” says Beyile.
The importance of corporate-sponsored bursaries
According to a 2019 report by the SA government titled ‘Education Series Volume V: Higher Education and Skills in South Africa’, around 51% of the South African youth don’t have access to the financial means to pay their way through higher learning courses.
Additionally, according to Stats SA’s Quarterly Labour Force Survey (released on 1 June 2021), the official unemployment rate among the South African youth (15-34 years) was 46.3% in the first quarter of 2021.
Not only does this highlight the current youth unemployment crisis in South Africa, but also the pressing need for bursaries in South Africa. Through additional corporate sponsorship, Red & Yellow can reach its full R7.5m target for bursaries and provide young South Africans with the opportunity to find success in their future.
Corporate support helps to elevate the impact of the bursary sponsorship by ensuring that the funds develop highly employable students boasting future-focused and industry-relevant skill sets. Sponsors are also able to take advantage of significant B-BBEE benefits, which incentivise companies to contribute towards bursaries.
“Financial aid for students is pivotal as it enables them to transcend merely surviving in an incredibly difficult economy and to actively pursue their dreams,” says Meghan Slater, head of corporate sales. “Through Red & Yellow’s Bursary Programme, corporates can support the development of the local business landscape and increase employment opportunities by equipping bright young South Africans with the necessary skills to become the leaders of tomorrow.”
Our focus at Red & Yellow is developing South Africa’s youth to meet the perpetually transforming demands of the future, regardless of their background or circumstances. To learn more, please visit our bursaries page.
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