South Africa remains a dual economy with one of the highest rates of inequality in the world. These are perpetuated by a legacy of exclusion and the nature of economic growth, which is not pro-poor and does not generate enough employment. In 2015, the richest 10% of the population held about 71% of net wealth, while the poorest 60% held 7% of net wealth. Unemployment is also a major challenge, standing at over 27% in 2019. In addition, more than one in two young people are out of work in the country.
Coordination and implementation: FXB International
Financial partners: Alstom Foundation, Valais Solidaire, and Coromondel Foundation.
FXB Phumelela – Succeed ! aims to reduce the level of vulnerability of families living in extreme poverty in the Nigel, Witbank and Soweto townships by strengthening the economic and social capacities of unemployed women and youth.
It is about taking 90 unemployed women and youth every year towards self-entrepreneurship through training and psychosocial support adapted to their difficult environment.
Throughout the process, they will integrate the principles of self-development, meet entrepreneurs and acquire digital skills, financial literacy, and project management, including the selection, planning and management of income-generating activities (IGA). At the end of their training, they will receive assistance in starting an IGA and will be accompanied in its development.