Pharma Dynamics has partnered with the Young Employment Sector (YES), a corporate sector-led effort, to unleash South Africa’s demographic dividend through investments in skills development and employment creation programmes for young.
The corporation has committed an initial R6 million to the human capital initiative, which will allow 88 young people to get significant work experience in a variety of fields.
Over time, the goal is to create a springboard for professional growth in the pharmaceutical and healthcare supply chains.
Pieter Engelbrecht, the CFO of Pharma Dynamics, said that with soaring unemployment rates among young people, tackling this issue is not only an economic need, but a moral one for the nation’s future prosperity and social stability.
“One of the most pressing concerns surrounding youth unemployment is its detrimental impact on the economy. High levels of youth unemployment stifle economic growth by depriving the workforce of valuable human capital and productivity.
“Youth unemployment presents a multifaceted challenge that requires urgent attention and innovative solutions, which is why we have partnered with the YES,” said Engelbrecht.
He noted that since 2019, the YES has placed over 139,402 young people in high-growth industries such as retail, tourism, manufacturing, automotive, SME, green economy, and information technology.
With 53% of these adolescents coming from grant recipient households, he said, the ripple effect across families and communities can be seen.
Engelbrecht said that the investment has the potential to make a significant impact.
Leanne Emery-Hunter, the COO of the YES, stated that solving youth unemployment is critical to creating a more inclusive society in which all citizens may participate meaningfully in the economy and society.
“Pharma Dynamics shares our vision and passion for the betterment of society through youth job creation, which will make us more effective together.
“By prioritising youth employment and implementing targeted interventions to equip young people with the skills, opportunities, networks and support they need to succeed, South Africa can unlock the potential of its youth and pave the way for a more prosperous, inclusive and sustainable future,” said Emery-Hunter.
IOL