South Africa faces a youth unemployment crisis, with 45.5% of young people unable to find work, and females experiencing higher unemployment rates than their male counterparts, according to the latest data from Stats SA. This crisis demands innovative solutions that go beyond traditional employment creation. Youth entrepreneurship stands out as a powerful and sustainable catalyst for job creation and economic growth.
At FNB, we recognise that young people are not just future leaders, they are current change-makers, redefining the world of work through business innovation. Increasingly, the youth are turning to entrepreneurship not as a last resort, but as a deliberate, empowered choice to build their futures. We are proud to support this momentum through tools, funding, and advisory services that help turn entrepreneurial ideas into sustainable businesses. With the right backing, these visionaries can create employment, drive economic transformation, and uplift communities.
Over 35% of FNB’s Gold customer base (R0-R5 million turnover) is now comprised of young entrepreneurs aged 18–35. These customers are a mix of skilled professionals, graduates, and those without formal qualifications—many of whom are running side hustles or growing formal businesses. Recognising their unique needs, we’ve developed targeted value propositions and enterprise development programmes to help them succeed in a highly competitive market.
Our commitment to youth entrepreneurship is visible through multiple flagship initiatives:
The Top 16 Youth-Owned Brands Awards (YOBAs), which FNB proudly supports, is more than just an awards ceremony; it’s a growing movement celebrating young African entrepreneurs across sectors such as manufacturing, food & beverage, tech, and the creative industries. These brands represent the courage, creativity, and innovation that young entrepreneurs bring to the economy.
Our FNB App of the Year initiative showcases the ingenuity of youth in the tech space, offering a platform to highlight mobile innovations that address real-world challenges and unlock new business opportunities. This initiative fosters a culture of tech-led entrepreneurship by rewarding innovation and scalability.
Our Enterprise and Supplier Development initiatives feature strong youth participation across various programmes. In addition to this inclusive approach, we have also introduced exclusive youth-focused initiatives—such as the Youth Start-Up Accelerator Programme, which supports SMEs from the ideation stage to early start-up, and the FNB Market Masters Funding Readiness Programme, specifically designed to address the unique funding challenges faced by youth-led businesses. These targeted investments reflect our dedication to supporting the next generation of entrepreneurs by providing them with structured developmental resources such as training, mentorship, coaching, and specialized interventions that assist these small businesses in bridging their existing enterprise gaps, and facilitate their growth and sustainability.
Sectoral trends indicate that the largest share of youth-led businesses falls into business and administrative services, followed by community services, retail, construction, and transport. Additionally, the creative economy is thriving, with content creators, designers, and beauty professionals making their mark, particularly in metro areas. Youth are also increasingly leveraging technology to develop scalable solutions that address local challenges.
While opportunities are growing, youth entrepreneurs still face significant hurdles. Access to funding is the most cited challenge, followed by gaps in industry-specific skills and general business knowledge. Safety concerns, crime, and credibility issues, especially among young women – also limit business growth. Many also struggle with financial literacy, resulting in early business closures. Some start ventures while job-hunting, only to abandon them when formal employment becomes available.
Despite these challenges, there are promising signs of progress. Tools such as artificial intelligence and digital learning platforms are helping youth rapidly close knowledge gaps. Government funding vehicles like the NYDA and SEFA’s Youth Challenge Fund provide crucial capital, though awareness and access remain limited.
To truly unlock youth potential, entrepreneurship must be normalised as a viable career path. Globally, there’s a shift from traditional job-seeking to personal opportunity creation, and that mindset needs to be cultivated early, ideally by the time learners leave school.
FNB recognises the importance of supporting this vital segment of entrepreneurs. By serving as active, engaged, and innovative partners, we aim to transform entrepreneurship into a thriving economic driver, while contributing meaningfully to tackling unemployment and building an inclusive economy.
Janis Robson – Business Development Head at FNB
Soweto Sunrise News
