The national unemployment rate remains a long-term threat to South Africa's economy. While overall unemployment continues to rise, topping 32.7% in the first quarter of 2026, clear solutions to economic inclusion for the country's workforce remain elusive. Finding ways to integrate working-age youth, approximately 60.9% of whom are unemployed, into the workforce is a challenge that must be overcome for social and political stability as well as the foundation for a stable economic future.
ABSA's strategic contribution to this challenge focuses on building a workforce that is innovative, resourceful, responsible and driven to create their own value. To that end, Absa has a corporate citizenship that recognizes an entrepreneurial mindset as key to economic participation, whether in formal employment or self-created work. And it's a mindset that Absa believes can be taught and developed.
The Absa-sponsored panel at the Trilogue Business in Society Conference 2026 focused on entrepreneurship education. Panelists debated the effectiveness of teaching and incorporating entrepreneurship, what barriers need to be addressed to encourage and reinforce entrepreneurship, and what challenges youth face in achieving true economic participation as entrepreneurs while navigating an existential reality. Practice, philanthropy, education and lived experience were discussed to discuss the process of establishing entrepreneurial intention as a path to sustainable economic inclusion.
From passive participation to active contribution
In his panel introduction, Absa Interim Group Managing Executive: Corporate Citizenship, Clement Motley, talked about economic exclusion as a pan-African issue that is hindering economic growth. “Social pressures and economic constraints are no longer separate conversations. Youth unemployment, inequality and limited access to opportunity could adversely reshape our country's and continent's sustainable development outlook.”
Motley underlined the value of entrepreneurship as a practical and reliable path to economic participation, allowing individuals to move from passive participants to active contributors to the economy.
He outlined how Absa's corporate citizenship efforts are structured to build a culture and pipeline of entrepreneurs through phased entrepreneurial education interventions. “This work is about equipping young people with capabilities that have real economic value, the ability to recognize opportunity where others see hindrance, the confidence to solve practical everyday problems, the discipline to think commercially and the flexibility to deal with risk with maturity.”
Absa's programs build the root system for entrepreneurial thinking within the basic education system, creating early exposure pathways that foster solution-oriented approaches and problem-solving skills. Targeting youth and higher education and training institutions, entrepreneurship is positioned as a potential career option, building practical skills, strengthening self-confidence and deepening business understanding to increase youth intention to start their own enterprises. Supporting these enterprises through funding, mentorship and access to networks provides some solutions to the challenge of unemployment.
Engaged across Absa's entire ecosystem, the company mobilized R53.5bn in sustainable finance over 2025 to advance economic and social outcomes.
– ABSA's financial education initiatives reach over 237,000 people and drive measurable improvements in financial competency among participants from 15% to over 85%.
– Absa's education, entrepreneurship and financial inclusion efforts have reached more than 366,000 people.
– In 2025, Absa invested more than R373m in a corporate citizenship initiative focused solely on youth and women fostering entrepreneurial intention and action.
– Over 74,000 youth were supported through education and work readiness initiatives, providing access to markets, finance and mentorship to over 5,000 small and medium enterprises, predominantly youth and women-led.
Developing mindset through entrepreneurial education
Panelist Nonhlanhla Magagula, ABSA head of corporate citizenship programmes, acknowledges that entrepreneurship is neither a solution to unemployment nor an appropriate form of economic participation for all. However, the attitudes and mindsets that inform entrepreneurial thinking justify comprehensive entrepreneurial education to prepare a generation of young people with agency and drive that they can also bring to the workplace.
Debating whether entrepreneurial spirit is a matter of nature or nurture, Absa partner Alan and Zimkitha Peter, CEO of Gil Gray Philanthropies, compared natural entrepreneurs to professional athletes. He said that just as entrepreneurial tendencies are innate, similarly genetics also inspire some people towards professional sports. Fundamental attitudes, skills and approaches have universal value. Entrepreneurship education addresses these essentials and ensures that those with a particular talent for entrepreneurship receive the knowledge, skills, mentorship and networks to set them up for success. “The most important thing is to give every young person who wants to be an entrepreneur a chance to at least be able to start on that journey.”
Designing entrepreneurship education that works
Well-versed in the data on what entrepreneurship education can and cannot achieve, Dr Adwel Gumbo, Director of Entrepreneurship at the Universities of South Africa, agrees that entrepreneurship education is not a conveyor belt for successful entrepreneurs. This can certainly contribute to building confidence in identifying problems and formulating appropriately aligned solutions. However, the real value comes from conveying the business understanding of investing, customers, and markets that is necessary to succeed as an entrepreneur at any stage of life.
Incorporating entrepreneurial thinking at the basic education level is an essential building block for active entrepreneurship training in higher education. Gumbo indicated that youth can be exposed to the necessary facilities, resources and tools that shape entrepreneurial mindset.
Reinforcing Magagula's earlier comment that entrepreneurship education efforts should focus on outcomes in the form of meaningful economic participation, he said that entrepreneurship education cannot impose short-term measures of success. Instead, organizations should recognize the long-term game in this area and instead value long-term enterprise building.
Gumbo also drew attention to the welcome growth of micro-credit in the region as a valuable tool in entrepreneurial education. Micro-courses and micro-credentials make it possible to assemble a package of targeted, specific skills from multiple institutions, regardless of geographic location.
Commenting on the growth of entrepreneurship education at CSI, Magagula noted the increase in the number of funders in this area. He attributed this to the growing recognition of entrepreneurship as an alternative route to youth inclusion in the economy and the need for an ecosystem to support young entrepreneurs. He highlighted this as an opportunity for greater cooperation in the field of entrepreneurship education.
Identifying the teachable skills that define entrepreneurial success
When asked what key ingredients young South Africans need to become successful entrepreneurs, the conference audience identified entrepreneurial mindset and self-confidence as second only to supportive networks and mentorship.
Lerato Tladi, who received entrepreneurship education through Absa and Allan and Gil Gray Philanthropies, shares her entrepreneurial journey and how she launched her own venture, Hunadi Air Conditioning and Refrigeration. He highlighted that it is the values and knowledge acquired through education that makes their success possible.
Saying she initially registered her business 'out of anger', Tladi told conference attendees that, as the only woman in a male-dominated air conditioning company, upon starting her career, despite her qualifications, she was relegated to washing cars and managing the stockroom. She knew she was worth much more than that, so she resigned and founded her own company.
Entrepreneurship education prepared him mentally for the setbacks, slow progress and constant problem-solving that comes with setting up his own venture. It took him from the beginning on foot to develop a strategic management compass that now guides him through threats and opportunities. Based on the understanding that a good business must sustain itself, Tlady gained financial management and marketing skills, a thorough understanding of compliance and governance, and an appreciation of the flexibility required to navigate the process.
However, the most important thing was the funding it received from Absa. This, he said, helped him purchase the necessary equipment, stabilized his business amid volatility, and enabled him to address the important problem of scaling his business while retaining the necessary skills.
supporting entrepreneurship education
The panel considered aspects of increasing entrepreneurship education for systemic impact.
Peter noted the limited reach of program interventions from both a funding and geographic perspective. He highlighted the value of partnerships as a means of increasing reach, such as the partnership between Absa and Allan and Gil Gray Philanthropies. “It's incredibly important for all the organizations that are in this field, especially in entrepreneurship education, to collaborate, to partner, to share resources and knowledge so that these programs can spread to other provinces where we don't necessarily have representation,” he commented.
Echoing Gumbo's call for long-term views on entrepreneurship; He urged funders and philanthropists to commit for the long term to see systemic change from interventions.
Peter also highlighted the importance of government as a key stakeholder in entrepreneurship education. While philanthropy and CSI programs play a role in building proof of concept, systemic uplift requires government commitment and action.
CSI can play another role by creating an ecosystem that serves entrepreneurs. Magagula said Absa's model not only meets young people where they are on their journey, but also seeks to unlock business value. This includes creating pathways to entrepreneurial action to further support young people through Absa's enterprise development initiatives and ensuring Absa's products and services serve young entrepreneurs while enabling access to market opportunities.
Promoting entrepreneurial success
Closing the panel, MC Nozipho Tshabalala asked the panelists for their final thoughts on how to improve the success rate of entrepreneurs. “Our next generation of entrepreneurs need access to markets,” Gumbo stressed, calling on companies to explore ways to help entrepreneurs open up markets to sell their products and services.
While Magagula stressed the need to unlock opportunities for talented youth, Peter reminded the audience of the importance of identifying talent in the first place. He called for greater efforts to identify, target and support the individual needs and stages of entrepreneurial individuals who use business as a tool for social good.
Tladi reinforced this sentiment by saying that entrepreneurship programs should open applications to more people with the right problem-solving mindset to succeed, develop in them the necessary skills to move forward and fund their efforts to generate success.
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