Hot News

South Africa: 563 000 graduates still unemployed


Stats SA has just released its Quarterly Labour Force Survey for the third quarter of the year, showing that the unemployment rate in the country has stagnated at 27.7%. Of those, 38.6% of those who have given up hope of finding work are included – the worst levels in 14 years. 9.1% included holders of degrees and diplomas. The sad reality is that a university degree or diploma no longer holds the promise of jobs for young South Africans as hundreds of thousands of them battle to find work.

Labour market analyst, Loane Sharp, says about 563 000 university graduates are languishing at home, unable to put into practice what they have learned. A growing army of unemployed graduates are now forced to either rely on their families to support them or find jobs as unskilled workers, such as waiters, clerks and office assistants.

African Bank’s Group Executive: Human Capital, Lindiwe Miyambu, says it is definitely not all doom and gloom however. “There are still talent opportunities aplenty in certain sectors. The banking sector is one such example.” In fact, in the latest report, the highest growth in employment during Q3 was mainly driven by finance and other business services industries.

“New advanced technologies, increased competition and a need for new product innovation have opened up a host of employment opportunities for young graduates looking for employment opportunities. There is a need for the development of a pipeline of graduates that meet the skills needs of the banking sector,” she says.

Sharp agrees saying the key issue is whether the degree is relevant to employers. He says not all graduates are equal in the fierce battle for jobs and vocational relevance is a big problem. “It is concerning to see that we have 865 000 vacancies in the private sector and yet still so many unemployed graduates.”

Topping the list of sought after skills in banking are IT, accounting, actuarial and financial analysis as well as management skills, particularly at the senior management level.

“We are seeing a huge focus on IT which is logical due to the changing technology and new product development within banks. Mobile banking and cashless transactions are what people want,” she says.

Common fields of study offering a supply stream for the banking sector are Bachelor of Commerce; Bachelor of Science: Actuarial/Financial Mathematics; Bachelor of Business Administration; Bachelor of Science: Engineering/Applied Mathematics/Computer Science; Bachelor/Master of Law: Corporate Law; Bachelor of Accountancy. “There are, in some cases, intakes from Bachelor of Arts: Psychology and Bachelor of Social Science: Human Resources. The bulk of the supply, however, falls within the areas of Business and Management.”

African Bank has engaged with both industry and higher education institutions in an effort to support the development of the sector. These include inter-SETA partnerships, partnerships with other public higher education institutions, partnerships in Africa and overseas.

Sharp says partnerships like this are good for the industry. “On a macro level it is encouraging to see so many institutions providing innovative private solutions to the public problem we are experiencing.”

For those considering a career in banking, Miyambu says that African Bank has just opened its 2018 Graduate Development Programme. For the first time this will be a national programme open to anyone who meets the criteria and is in possession of an NQF level 6 or 7 tertiary qualification. “It is a programme where we encourage 110 innovative and insightful graduates from across South Africa to join our 12-month graduate programme which is designed for those who are business-orientated, customer-focused and who are looking for a challenging career within the banking industry. This is a high-quality programme that will allow unemployed graduates to gain workplace skills, apply their ideas and gain practical experience within the banking industry.”

The academic programme chosen centres on core banking themes and topics that allow graduates to explore foundational concepts and fundamental principles of the banking environment in South Africa, the evolving nature of the financial systems of money and banking, customer and strategic management. In addition graduates will be afforded the opportunity to write their respective regulatory exams (RE5) upon conclusion of the programme.

Anyone interested in applying for the 2018 graduate programme can visit the African Bank website to check the qualifying criteria.

“For those fortunate enough to be selected they will not only gain invaluable experience but also be introduced to the crème de la crème of the banking industry through our associations with the reserve bank and the institute of bankers. This programme will stretch you and is only for the most determined, ambitious, courageous and street-smart amongst you,” concludes Miyambu.


  1. 激光陰道收緊療程

    October 7, 2018 at 10:08 pm

    激光是單一波段的光能 , 在同一時間發射 , 光線能量較為集中 , 能深入皮膚打擊患處之異常色素或血管 , 溫和地刺激皮膚內的骨膠原更生, 新生的骨膠原令您的膚質光澤柔嫩 , 煥然一新 , 抗老效果顯著。有效治療色斑(雀斑 , 太陽斑 , 咖啡斑 , 太田痣 , 紋身) , 血管問題 (葡萄色斑 , 微絲血管擴張) , 膚色不均 , 皮膚鬆弛 , 毛孔粗大 治療後皮膚會出現短暫的紅腫 , 要注意防曬及遵照醫生指示護理皮膚

  2. 醫學美容 雕塑

    October 13, 2018 at 1:52 am

    LipoDermis 極緻黃金保濕套裝 – 傑信醫學集團有限公司Kitson Medicine Group Co. Ltd. LipoDermis 極緻黃金保濕套裝 – 傑信醫學集團有限公司Kitson Medicine Group Co. Ltd.

  3. Restylane 透明質酸

    October 15, 2018 at 8:51 pm

    韓國膠原蛋白提拉線,在韓國又稱作FTL(Fine Thread Lifting細線埋入拉提術)」,可達到最新趨勢V臉回春效果。它是運用獲得韓國食品藥品管理局KFDA最高安全等級認證的可吸收縫線PDO (polydioxanone)的Fine Thread(細螺紋) 埋入皮膚真皮層裡作用,利用異物反應原理,促進皮膚真皮膠原的增生、刺激局部微循環、從而提拉皮膚和肌肉,增強皮膚彈性,達到提升、除皺,美白、嫩膚等多重回春效果。

  4. 黑色點點

    October 16, 2018 at 4:04 pm

    維持水份與油份的良好平衡、讓肌膚紋理整齊,提升水潤持續作用,維持良好的肌膚狀態。 中性肌膚適用

  5. 醫學美容 色素

    October 18, 2018 at 10:28 pm

    PHILIPS 飛利浦 【美容家電】HP8664沙龍級美髮自動造型梳的商品介紹 PHILIPS 飛利浦,美容家電,HP8664沙龍級美髮自動造型梳

  6. 醫學美容 歐美風

    October 20, 2018 at 11:38 pm

    香港美容專欄作家Yoko Tsang: 好用抵用 「萬能面膜水」! 香港美容專欄作家Yoko Tsang: 好用抵用 「萬能面膜水」!

  7. HIFU 無創超聲波4D拉皮

    October 21, 2018 at 10:30 pm

    以低能量的1064-Q激光反覆掃於皮膚表面,逐步改善皮膚色素問題。 治療時產生的熱能能促進膠原蛋白的再生,回復肌膚彈性。 使用7mm平行光光頭,使輸出的激光更溫和及均勻。功效: 去除紋身 美白及去除面毛 令整體膚色更白更均勻 減淡及去除荷爾蒙斑或反黑 增加皮膚膠原蛋白,改善皮膚彈性 減淡深層色斑 : 黃褐斑,荷爾蒙斑,蝴蝶斑 以低能量的1064-QS激光反覆掃於皮膚表面,逐步改善皮膚色素問題 使用8-10mm平行光光頭,使輸出的激光 更溫和及均勻 1. 激光能透進皮膚深層 2. 激光被黑色素吸收 3. 產生熱能將黑色素體分解 4. 被呑噬細胞吸收及排出體外

Leave a Reply

Your email address will not be published.