As South Africa’s Youth Month, a uniquely local tradition rooted in both commemoration and aspiration, draws to a close, it is encouraging to witness the momentum of the Y20 (the youth engagement arm of the G20) gaining traction under South Africa’s presidency.
Y20 South Africa, officially launched on May 8, has already hosted a series of engagements placing youth issues at the forefront of the global economic agenda. Its mission is sharply relevant.
According to data from the UN, an estimated 63% of the world’s population is under the age of 35 and 33% are under 20. Therefore it is no longer sufficient to have isolated conversations about the youth without meaningful contributions from them in the dialogue, especially those aged 18 to 30, who are at a pivotal life and career stage.
Now in its 16th year, the Y20 is more than symbolic as it is a structural conduit for amplifying youth voices across some of the world’s most pressing challenges. In South Africa, that challenge is often summarised in a single word: unemployment. The figures are sobering.
According to Stats SA, nearly 50% of individuals aged 24 to 35 are unemployed — a stark contrast to the already-high national average of 43%. Data from a Brandmapp survey reveals that roughly 63% of young adults are actively job-seeking or exploring new opportunities to advance their careers and improve their earnings — a figure that is 20% higher than their counterparts over the age of 35.
Among 15- 24-year-olds, 37% are not in education, employment or training, further diminishing their prospects for future participation in the workforce. This is compounded by a shift in sentiment, where young people, globally, are questioning the traditional path to prosperity.
A recent Global Web Index study found that the proportion of youth who value a university education has declined sharply, from 50% in 2021 to just 39% in 2024. But interpreting these figures as signs of apathy would be a mistake. Instead, they may reflect a generation grappling with economic unpredictability and, in turn, actively reimagining the rules.
Indeed, South African youth are increasingly entrepreneurial. According to the 2023 study by a Pan-African financial services group, 47% of those aged 18 -35 aspire to start their own businesses, a significant jump from 36% among older generations.
Globally, side hustles are no longer marginal but mainstream, as younger adults explore diversified income streams with an agility shaped by technological fluency and the realities of the Fourth Industrial Revolution. Even in rural communities marked by limited access, innovation is taking root.
Success hangs by a thread and it is against this backdrop that the Y20 plays a vital role. It serves as a platform for governments, private sector leaders and global investors to engage directly with young people — not just to listen, but to co-create interventions that are timely, scalable and enduring.
Importantly, joblessness is only one strand of a far more intricate web of socio-economic concerns and not unique to South African youth. When asked what worries them most, South Africans between 18 and 35 identified crime, corruption and the cost of living as their top three anxieties. As in many other societies, there is a prevailing belief that financial wellbeing can help mitigate these challenges and that youth economic inactivity (by contrast) only serves to deepen them.
While the short-term need for income is pressing, long-term sustainability is equally critical. The Y20’s five strategic focus areas offer a forward-facing vision, with digital transformation and climate action among its priorities.
These choices are instructive. Climate anxiety is intensifying, with more than 70% of young adults worldwide expressing concern, particularly those in developing economies. For African youth poised to inherit economies rooted in agriculture and natural resource extraction, the threat is not abstract — it is immediate and deeply personal.
This is a generation determined to pivot. Through digital innovation, inclusive policy and targeted investment, there is a pathway forward. And as the Y20 continues to surface new ideas and new voices, the challenge for South Africa’s business community is clear: to engage, enable and invest in the very cohort that will shape our shared future.
• Makhoba is an economist and lead specialist of research and analytics at Liberty, the insurance and asset management arm of Standard Bank
For opinion and analysis consideration, e-mail Opinions@timeslive.co.za
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