Nedbank DigiSkills Qorus Banking Innovation Awards 2023

The Backstory: In the face of rising youth unemployment in South Africa, with numbers reaching 4.9 million in 2023, there was a glaring paradox. Despite this high unemployment rate, certain sectors of the economy had a demand for entry-level jobs that exceeded supply. Specifically, South African companies were in dire need of digitally skilled workers. The demand was for approximately 44,000 entry-level digital professionals annually, yet formal institutions were producing fewer than half of that number. This mismatch led to a staggering offshore spend of over R10bn due to the digital skills shortage. The Genesis of DigiSkills: Recognizing this gap, Nedbank, in partnership with Microsoft Philanthropies and Afrika Tikkun, embarked on a journey to address this challenge. The aim was to not only provide training but to ensure that young people were connected to these high-demand opportunities. The ambitious target was set: unlock 10,000 salaried jobs for young people. The Pilot Program: In 2021, a pilot program was launched to gauge the challenges faced by both supply and demand actors in the entry-level digital skills economy. The objective was clear: provide world-class digital skills at low or no cost via the Microsoft platform. This would create sustainable income opportunities for program graduates in high-demand digital skill areas. The primary beneficiaries were young people, especially those from underrepresented backgrounds. Outcomes and Achievements: The pilot saw impressive results: - Over 34,000 registrations, indicating the initiative's resonance. - 48,216 course completions, showcasing the program's effectiveness. - 2,238 sustainable income opportunities secured for graduates. - 830 technical track graduates were certified. The Broader Impact: Beyond numbers, DigiSkills had a transformative effect. It wasn't just about imparting skills; it was about changing lives. The initiative helped many transition from being unskilled to skilled and competent, leading to improved standards of living for disadvantaged communities. This was not just a program; it was a movement that showcased how technology and shared value can be harnessed to create positive, lasting change.