IDC Partners with Nepoworx to Transform and Grow an Inclusive Economy in Townships
South Africa, August 2024, The Industrial Development Corporation (IDC) has partnered with Nepoworx to launch a transformative programme aimed at addressing the dual challenges of youth unemployment and South Africa’s deepening energy supply constraints. This initiative seeks to provide small businesses with solar installations, thereby capacitating them for growth and creating sustainable employment opportunities for young people.
The youth unemployment rate in South Africa was a staggering 46.5% in the first quarter of 2023, leaving 4.9 million young people with little hope for a future unless drastic changes are made. High youth unemployment threatens to keep millions in poverty for years, many without any form of daily income. This alarming statistic underscores the urgent need for innovative solutions to create jobs and lift communities out of poverty.
Simultaneously, South Africa has continuously faced energy supply issues, with load-shedding becoming increasingly frequent earlier this year and tariff increases as the energy supply gap widens. Urgent implementation of sustainable and stable energy solutions is crucial to spur economic growth and ensure job creation. The Township Energy Fund launched by the IDC aims to bridge this gap by providing credible alternative energy solutions and solar PV skills development, critical catalysts for economic growth. This will enable small, medium, and micro enterprises (SMMEs) to access affordable, high-quality energy solutions, and receive demand-driven, accredited solar PV skills training.
Nepoworx will lead the implementation of the programme, while Matla Energy will provide solar energy installation services to various SMMEs. WiEnergi will serve as a platform to onboard the SMMEs and to monitor the operation and maintenance of the energy systems.
Nonjabulo Sokhela, CEO of Nepoworx, emphasized the programme’s potential: “This partnership with the IDC, is a pivotal step towards sustainable economic growth in our communities. By equipping local entrepreneurs with solar installation skills and providing reliable energy solutions, we are addressing the intermittent energy supply issues and paving the way for long-term job creation and township economic growth. This initiative is more than just an installation programme; it’s a catalyst for change in our townships and rural areas.”
In closing, the IDC and its partners are poised to make a lasting difference by promoting self-sufficiency and resilience in the face of energy and employment challenges. This project exemplifies the power of strategic partnerships in driving sustainable development and fostering an inclusive economy. Together, IDC, Nepoworx, Matla Energy, and WiEnergi are committed to creating opportunities, empowering communities, and contributing to the overall economic growth of the country.
For more information about the programme and how to get involved visit www.nepoworx.com or our social media channels on Facebook, LinkedIn and Instagram.
