The Broad-Based Black Economic Empowerment (B-BBEE) Commission and the Government Communication and Information System (GCIS) have come together to organize a webinar on the 28th of June 2023. This event is aimed at empowering and engaging the youth of South Africa under the theme “Beyond 20 years of B-BBEE: Youth Economic Empowerment opportunities through Enterprise and Supplier Development (ESD)”. This is part of a month-long campaign that celebrates Youth Month in South Africa.
Objectives of the Webinar
The webinar aims to achieve the following objectives:
- Comprehensively understand the challenges faced by the youth concerning transformation and empowerment.
- Investigate good practices related to Enterprise and Supplier Development (ESD).
- Assess the impact of ESD and other B-BBEE initiatives on young people.
- Explore solutions to address the issues encountered by the youth.
Coverage of the Event
The event is open to the public, including members of the media. It will take place on the 28th of June 2023 at 09:30 via Zoom and will be live-streamed on the government’s YouTube channel.
B-BBEE Policy and Youth Empowerment
The B-BBEE policy has played a significant role in encouraging South African citizens’ participation, especially those who were previously disadvantaged, in the country’s economy. However, challenges remain, particularly for the youth. The youth often face barriers such as limited access to resources, lack of mentorship, and inadequate skills development opportunities.
Enterprise and Supplier Development (ESD) Framework
The ESD framework, which is part of the B-BBEE policy, offers promising solutions to these challenges. It focuses on developing small and medium-sized enterprises (SMEs) and promoting collaboration between established businesses and emerging entrepreneurs.
Successful ESD Initiatives
Over the past two decades, several successful ESD initiatives have made a difference in the lives of young people. For example, business incubators have provided essential support services and mentorship programs that enable young entrepreneurs to navigate the complexities of starting and growing a business. These incubators have not only helped create jobs but also contributed to the overall growth and transformation of the economy.
Another noteworthy ESD initiative is the establishment of youth development centers that provide an integrated range of services, including career guidance, skills development, and entrepreneurship training. These centers are often a lifeline for young people who seek to enter the world of work or start their own businesses.
Multi-Stakeholder Approach
The B-BBEE Commission and GCIS’s efforts to engage the youth in discussions around ESD and the broader B-BBEE policy show a genuine commitment to tackling the issues faced by young people in South Africa. The emphasis on collaboration between government agencies, the private sector, and civil society demonstrates the importance of a multi-stakeholder approach to addressing the challenges of socio-economic transformation.
As the Youth Month campaign unfolds, it is essential to ensure that young people reap the benefits of the B-BBEE policy and ESD initiatives. By providing education, mentorship, and practical support, these programs will empower the youth to take charge of their futures and actively participate in the growth and development of the South African economy.
