• “Youth Forward 2025” program launched in partnership with GIBS

• Targets entrepreneurs aged 18–35 with turnover above R100,000

• Initiative addresses high youth unemployment through mentorship and training

With youth unemployment among South Africans aged 15 to 24 at 62.4%, there is growing pressure to expand access to economic opportunities. In response, Standard Bank, in collaboration with the Gordon Institute of Business Science (GIBS), has launched the “Youth Forward 2025” program. The initiative, announced on May 30, is managed through the Entrepreneurship Development Academy (EDA) and will support 50 businesses led primarily by young black entrepreneurs.

In line with Youth Month, an annual national period focused on youth empowerment, the selected companies will benefit from blended training modules guided by mentors, along with access to professional networks. In-person sessions will take place in Johannesburg. Applications are open until June 3.

The program targets South African entrepreneurs aged 18 to 35 whose companies are at least one year old and generate a minimum annual turnover of 100,000 rand ($5,500). The goal is to strengthen young enterprises often hampered by structural challenges, by equipping them with the tools and support needed to sustain and scale their operations. Standard Bank aims to promote job creation and stimulate local economic activity by combining practical coaching with effective learning methods.

According to recent data from Statistics South Africa, the broader youth unemployment rate (ages 15 to 34) reached 46.1% in the first quarter of 2025, up from 44.6% in the previous quarter. This trend highlights the urgency for focused private sector initiatives, particularly in light of the perceived limitations of public employment policies.

The program’s success will depend on its ability to help develop strong businesses that can serve as community role models. Long-term impact will require coordination with existing public and private sector efforts. The Youth Employment Service (YES), launched in 2018, has helped over 100,000 young people gain initial work experience. Meanwhile, the National Youth Development Agency (NYDA) provides grants and mentorship to young entrepreneurs. Continued collaboration between public and private actors is essential to amplifying the reach and sustainability of such initiatives.