They’re going into the final stretch under a cloud of load shedding and Covid-19. The record number of 735,677 full-time matriculants is starting to write their final school exams on Wednesday. But the Department of Basic Education says it’s prepared for the eventualities. All candidates including those who tested positive for Covid-19 or display Covid-19 symptoms will be accommodated in isolation rooms at examination centres. And the department has been in talks with Eskom and municipalities to keep the lights on while matriculants sit for their exams.
The big issue, however, is, are our hopeful youths going to pass into the ranks of unemployment? The prospect of further education for many is grim because of South Africa’s current basic education system and the grading standard. It has created a huge gap between what the high school system produces and what the higher education system expects. And there simply aren’t jobs, taking into account our unemployment crisis: our unemployment rate is sitting at 34.4% and youth aged 15-24 and 25-34 years recorded the highest unemployment rates of 64.4% and 42.9% respectively.
Underlining the dire situation, the DBE’s move to create 287,000 teaching and general assistant positions has been oversubscribed with more than 2,7 million applications from more than 475,000 young people.
What’s inspiring though, is that many youth are creating their own opportunities – and there are many opportunities to tap into, for example Harambee, Yes4Youth, SA Youth Network, and many more. To our matriculants, seize the day, it is your time to shine!
In the markets, the rand is taking strain from the political and economic fallout in Turkey after President Recep Tayyip Erdogan over the weekend said that the ambassadors of 10 nations were no longer welcome. Investors are watching for the Turkish foreign ministry to make the move official. The lira weakened as much as 1.6% in early Asian trading amid thin liquidity, touching a new low for a third straight day.
“We will have to be vigilant of any further news out of Turkey as this could impact the rand in the short term. We have also seen that the effect of the US dollar has subsided a little as the emerging markets are taking centre stage at the moment,” comments TreasuryONE.
Here’s a roundup of the world’s top and most interesting headlines:
SA Business
Steel strike: Workers struck while the iron was hot – Mail & Guardian
Mango airlines makes retrenchment offer – The Citizen
These are the ‘hidden’ costs you will pay when buying a house in South Africa – BusinessTech
Global Business
‘Kings of Booze’: 11 African millionaires who have made a fortune in alcohol – BIllionaires Africa
Evergrande says it has resumed work on 10 stalled projects – AFP
Tesla hiked the price on two models by $5000, weeks after price increases on its most popular vehicles – Business Insider
Markets
Asian markets swing as traders eye China outbreak, inflation – AFP
JSE Market Notes: Renergen keeps the hype coming – Daily Maverick
Gold’s inflation-haven appeal means ‘violent’ run-up may be ahead – Bloomberg
Opinion/In-depth
Anti-vaxxing politics — an ideal wedge issue for the desperate and low – Daily Maverick
What Is COP26? A guide to climate talks 2021 – News24
The man behind Erdogan’s worst spat with the West – Bloomberg
Video
These Swedish entrepreneurs are using new technologies to reimagine the way we shop and pay – Euronews
Explainer: What is the ‘metaverse’? – Reuters
European Space Agency is prepping vehicles that will put the first woman on the Moon by 2024 – Euronews
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