Capricorn Foundation invests N$1 million in job creation

Martin Endjala

In response to Namibia’s persistently high unemployment rate among young people, the Capricorn Foundation has pledged to invest N$1 million in Bank Windhoek’s Young Talent Programme.

The Capricorn Academy for School Leavers, a new initiative under Bank Windhoek’s overarching Young Talent Programme, will receive the funds.

Marlize Horn, the executive communications officer of the Capricorn Foundation, made this announcement last week.

She said the Capricorn Academy for School Leavers aims to address the pressing issue of youth unemployment by providing training and employment opportunities for promising young Namibians.

“Recognising the urgency of this national challenge, the Capricorn Foundation has committed to funding the Capricorn Academy for School Leavers, which aims to equip and empower young school leavers with the necessary skills and experiences to build successful careers. Through this initiative, we hope to contribute to reducing youth unemployment and fostering economic empowerment among Namibia’s youth,” she said.

Horn said that the School Leavers programme will offer ten graduates from the Grade 12 Class of 2023 the opportunity to join Bank Windhoek for an 18-month comprehensive training and job placement programme.

Meanwhile, Popular Democratic Movement (PDM) parliamentarian Inna Hengari told this publication on Tuesday that it’s heartening to hear about the Capricorn Foundation’s commitment to investing in job creation and skills development for school leavers in the banking sector.

“Initiatives such as this demonstrate the positive impact that the private sector can have on addressing unemployment and providing opportunities for youth empowerment. However, while such initiatives are commendable, they also shed light on the need for more diverse and comprehensive government-led efforts to tackle youth unemployment,” she said.

Hengari mentioned that training programmes solely focused on security officers and charcoal workers are limiting and fail to tap into the full potential of the youth workforce.

She added that the private sector’s investment in training school leavers for the banking sector underscores the importance of diversifying employment opportunities and equipping young people with skills relevant to various industries.

She highlighted that the government collaborates with private enterprises and other stakeholders to expand the scope of vocational training programmes and promote job creation across different sectors of the economy.

He added that initiatives like the Capricorn Foundation’s investment in the banking sector are significant steps towards addressing youth unemployment and enhancing economic opportunities.

Hengari also highlights the need for broader government action to ensure that young people have the skills needed to thrive in today’s dynamic job market.

Herbert Jauch, a labour expert, said the interventions are good for the ten young people who will secure jobs in the banking sector.

However, he said such a small number will not affect the overall unemployment rate, as tens of thousands of young people are looking for jobs.

A National Council member of parliament, Paulus Mbangu, said the N$1 million investment is not enough given the high rate of unemployment but believes that stakeholders can chip in with similar investments into the job market.

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