Corporate-Sponsored Bursaries are changing young South African’s lives
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 R7.5 million 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.
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 bursary student Anganathi Beyilem.
Building a better future
Corporate-sponsored bursaries give young South Africans a chance to carve their own way forward, equipping them not only with industry-relevant skill sets but also future-conscious mindsets. The business landscape is transforming at an increasingly rapid rate and it is essential that we arm our youth with the ability and agility to navigate the often unforgiving wilderness of work.
According to a 2019 report by the SA government titled ‘Education Series Volume V: Higher Education and Skills in South Africa’, around 51% of South African youths don’t possess 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 South African youth between ages 18 – 34 sits around a staggering 40% (by proxy). That’s almost half our youth that is currently sitting without work!
Of that total, 52.4% are individuals that don’t yet hold a matric qualification, with a mere 9.4% being those who hold tertiary-level qualifications.
Not only does this data highlight the dire unemployment crisis among the South African youth, but it also clearly indicates that there is a direct correlation between education and employment.
“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”.
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.
Vision Meets Social Responsibility
Based on everything we’ve covered so far, from the perspective of business owners, it brings to mind the value of stewardship – taking ownership of a future that extends beyond your lifetime. Strategically, you are investing in the future of your workforce. Ethically, you are evolving a nation and cultivating fertile economic ground for future generations to grow from.
The youth is filled with a thirst for innovation and personal prosperity. If their talents and mindsets are moulded with the future in mind, this will lead to the creation of fresh emerging and disruptive markets. This is how you develop a nation’s ecosystem of opportunities and, more tangibly, create jobs and generate a larger pool of qualified talent to hire from.
Through additional corporate sponsorship, Red & Yellow can reach its full R7,5 million target for bursaries and provide young South Africans with the opportunity to find success in their future.
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.