Microsoft sets up fund for job-seekers

The software company will partner with the South African government's job creation fund to train the youths and place them in permanent employment.

"We cannot let an entire generation of young people become long-term unemployed," said Jean-Philippe Courtois, president of Microsoft International.

The company will act as a link between universities and IT companies that they will approach to determine needed skills.

Despite it being the continent's largest and wealthiest economy, South Africa is reeling under chronic joblessness.
Officially, 25% of the people who could be employed have no job, of which 70% are young people.

The expanded jobless rate, which includes people who have given up looking work, paints an even bleaker picture with nearly 37% of South Africans unemployed.

Two years ago South Africa established a R9.0bn jobs fund to create at least 150,000 jobs by 2015. To date only about 20,000 new jobs have been created.

For the 3,000 jobs it is targeting, Microsoft is investing R146m as part of its US$75m pan-African initiative.

"It is very clear to us as a company, if we want to be relevant, if we want to sustain our growth, we have to work in partnership with many constituencies in Africa," Courtois told AFP.

Source: AFP via I-Net Bridge