[ T H OUGHT LE A DE RS HIP A RTICLE ]
Let no one be left behind By Champ Thekiso, Founding Executive Director: Thekvest Group
I
expertise in partnership with our clients and other ecosystem partners to unlock bursary and skills development opportunities. We work with funding partners and our clients to simplify processes and make funding accessible to small businesses. We frequently engage our network to raise financial and non-financial support to deploy in projects that inspire hope, restore dignity and unleash the potential of people living in impoverished and underserved communities.
watched President Cyril Ramaphosa deliver the recent State of the Nation Address (SONA 2022). At least three times in his speech, I heard him say, ‘let no one be left behind’. Every time he said that, it triggered something in me.
Covid-19 exacerbated a country in crisis In South Africa, the impact of Covid-19 saw our economy decline by an estimated 6.4% to 7,2% in 2020. This resulted in a further two million people living below the poverty line. Unemployment increased to an unprecedented 34,9% in the third quarter of 2021 and 46,6% when using the expanded definition of unemployment that includes people who have stopped looking for work. Youth unemployment, which measures job seekers between 15 and 24 years old, hit a new record high of 66.5% in the third quarter. In simple terms, one in three people in South Africa is unemployed, and six out of ten young people remain out of work.
Systemic challenges facing South Africa These challenges are not merely the result of Covid-19. They existed in South Africa long before the pandemic. Pro-poor structural challenges and weak economic growth have hampered our efforts towards reducing poverty. The top 10% still own 86% of the aggregate wealth in South Africa. It is painful to realise it has been like this since our pre-democracy days in 1993. Inter-generational mobility has remained static. We are in a crisis and all need to work together
We deploy our capital raising and transaction advisory skills and experience to unlock meaningful economic value to accelerate economic inclusion outcomes together with other objectives.
Champ Thekiso, Founding Executive Director
to solve this challenge. Until we all roll our sleeves and do the hard work, the status quo will prevail. While Government can only intervene at a macro level, much can be done at a micro level. It requires us to individually and collectively do something towards economic inclusion.
Playing our role, in a big or small way At Thekvest, we seek to do our part. We work with large and emerging businesses and serve as bridge builders to accelerate inclusive procurement opportunities. We leverage our
This is what being a catalyst for economic inclusion means for us. With or without an economic transformation scorecard as a stick or carrot, ours is a commitment to see lives transformed, communities thrive, cities grow and nations prosper. It will take efforts at a micro and macro level to shift the needle and have a truly inclusive growing economy.
Heeding the President’s call To this end, I invite corporate South Africa, professionals, entrepreneurs, leaders, ordinary citizens to join hands and directly and indirectly contribute towards making economic inclusion a reality, especially for the marginalised and vulnerable groups in our country, to participate in the economy meaningfully. Let’s do our part in small or big ways so that we can truly say that no-one has been left behind.
Until we all roll our sleeves and do the hard work, the status quo will prevail.
www.sdawards.co.za
41
