- South African Reserve Bank Governor Lesetja Kganyago spoke out about the country’s education system and unemployment
- He believes that unemployment in the country is a structural problem that should be dealt with by changing the education policy
- Kganyago’s remarks came after the central bank was given the responsibility of dealing with job creation, leaving many annoyed
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JOHANNESBURG - South African Reserve Bank Governor Lesetja Kganyago believes that the country’s education system does not equip learners with sufficient skills.
He believes that unemployment in the country is a structural problem that should be dealt with by changing the education policy. During a television interview, Kganyago said policymakers need to understand that the lack of jobs is a structural issue.
The governor said the country’s education system does not provide learners with the skills they need to navigate the new world. He said society places too much of expectations on central banks even when they lack the tools, TimesLIVE reported.
Kganyago’s comments came after African National Congress (ANC) chairperson Gwede Mantashe said the party plans to change the central bank’s mandate. The ANC will soon include job creation to the list of responsibilities for the central bank.
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The governor previously spoke out about the numerous challenges that affect job creation and economic growth. According to News24, South Africa’s unemployment rate stands at 32.9%. It is the third highest on a list of 82 countries.
Mzansi reacts to Kganyago’s comments
“Is it because it's easier to increase interest rates and not have to worry about the implications? The SARB might not have the tools to create jobs but it is definitely the driver of the monetary policies that have a direct impact on job creation.”
“It’s not SARB’s job, it’s the ANC government’s job.”
“ANC appears to lack the tools to do anything.”
“Not sure the ANC are in any position to talk about creating jobs. What have they done?”
“They are not there to create jobs. The gov must create the right conditions for companies to grow and employ people.”
29 Million South African citizens receive grants from Sassa, social media users shocked: "Well done, new dawn"
Briefly News also reported that South Africa introduced the R350 Social Relief of Distress (SRD) grant during the COVID-19 pandemic and the number of citizens who receive welfare increased to 29 million.
That is almost half of the country's population who are completely dependent on grants from the South African Social Security Agency (SASSA).
There are 18 million citizens receiving the standard state welfare which includes child support, disability and old age grants. 11 Million citizens are receiving the SRD grant, reported TimesLIVE.
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Source: Briefly News