The Youth Employment Service (YES) has officially announced that it has ventured into a strategic partnership with BMW Group SA, ABSA and an unnamed international donor funder in a bid to fill the gap between graduation and employment.
Through this partnership, BMW will provide 12 months of paid and full-time work experience. Absa will grant historical debt relief for those graduates who qualify. The international donor will provide top-up salary support.
YES CEO Ravi Naidoo affirmed in a statement. “This partnership with BMW Group and Absa represents a powerful commitment to unlocking sustainable youth employability at scale. By placing these graduates into strategically relevant sectors, specifically in high-impact and future-facing roles, we are creating a multiplier effect where one job can create ten more.”
The YES initiative combines work experience with digital development, mentorship and targeted financial support, with the intent to eliminate obstacles to employment and prepare the graduates for longer-term careers. Since it was founded in 2018, YES has created more than 233 267 12-month full-time work opportunities for South African youths. Of YES alumni, across all its programmes, 47% have secured jobs and 17% have engaged in entrepreneurship activities.
“Our investment in youth employment goes beyond immediate talent needs,” pointed out BMW SA transformation and corporate investment head Valencia Modiba. “By partnering with YES and sponsoring 172 graduates through this programme, we are contributing to a generation of South Africans who are work-ready, digitally capable and equipped to propel our economy forward. This is what responsible business looks like in practice.”
BMW SA has worked with YES since 2022. In that time, it has provided more than 4 300 work experiences via YES. At the moment, it had a YES work experience cohort that is 1 046 strong. Of these, 102 were placed within BMW SA and BMW Financial Services South Africa, while 944 are with external host companies who are programme implementation partners.
Absa Group Managing Executive Setlogane Manchidi said, “For many graduates, historical student debt is the final barrier between earning a qualification and starting a career.”
“Through this debt relief intervention, we are helping young people unlock opportunities, realise their potential and build brighter futures. When we invest in the aspirations of our youth, we are investing in South Africa’s future, one story at a time.”
Under the new partnership, 172 qualifying graduates have, through the Absa CSI Graduate Historical Debt Relief programme, been granted relief for their student debt. The bank has so far granted debt relief totalling about R60-million to more than 800 graduates.
