Three years ago, we decided to position Finlite as a Fintech Academy for the Township Economy. I personally facilitated every session across three townships so I could experience first-hand the realities young people face: knowledge gaps, access to resources like smartphones and laptops, and reliable, free Wi-Fi.
The results were both encouraging and alarming.
Encouraging, because sessions were oversubscribed, confirming that young people are hungry for opportunities. They don’t want handouts, they want a hand up. This has been consistent across the many areas we’ve empowered so far and it’s really inspiring.
Most participants were already entrepreneurial: catering, fashion design, hairdressing businesses but none were registered nor had a website, few leveraged social media for business, though all were active for personal use. The simple knowledge gap is clear: social media is a free, accessible marketing tool, not just entertainment.
Alarming, because our education system is not preparing learners for the digital era. While schools still teach basic computer literacy, the global economy has shifted to autonomous agents, AI tools, and automation, skills young people will need to compete in the global economy.
StatsSA reports that youth unemployment in South Africa (15–34) is over 56%, one of the highest in the world representing over 4.6 million young , talented and capable people – let that sink in. Yet broadband penetration in low-income areas remains below 30%, and only 38% of schools have functional computer labs, according to the Department of Basic Education. Without access to devices, connectivity, and digital literacy, these young people are systematically excluded from economic opportunity.
The coming wave of job automation threatens to displace even the few available roles, creating a social and economic crisis unless urgent action is taken.
We need robust public-private partnerships, informed by industry, to:
Implement a digitally driven curriculum from ECD to tertiary level, aligned with market needs.
Expand network infrastructure and affordable devices in townships and rural areas.
Provide scalable platforms to teach digital skills, entrepreneurship, and financial literacy.
The solution exists; the tools exist. What we need is will, urgency, and investment. The time to act is now.
If you are an educator, policymaker, business leader, or innovator, join us in reimagining education and opportunity for South Africa’s youth. We cannot wait for another generation to be left behind.
hashtag#4IR hashtag#DigitalInclusion hashtag#TownshipEconomy hashtag#YouthEmpowerment hashtag#EdTech hashtag#PublicPrivatePartnership hashtag#FinancialLiteracy hashtag#SocialImpact
Andile Fulane, CEO – Finlite: https://www.linkedin.com/in/andile-f-314a2929?utm_source=share_via&utm_content=profile&utm_medium=member_android