This we say boldly because our commitment to change the lives of young people

This we say boldly because our commitment to change

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Financial Aid Scheme, NSFAS. This we say boldly because our commitment to change the lives of young people through education was reaffirmed by the scraping of the R967 million of historical debts benefiting 52 414 students. [Applause.] An uneducated nation can never grow economically and education should not be seen as social expenditure, but should be seen for what it truly is, an investment for the future of this country. No country has successfully made the transition from being an underdeveloped country, to being a developed country without a substantial investment in education and building its human capital. We have done well by investing in NSFAS from R70 million in 1994 to nearly R15 billion in 2018, resulting in the doubling of the student population in this period. We are now taking off to greater heights by building infrastructure to enable our universities to have higher intakes in order to speedily resolve
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UNREVISED HANSARD JOINT SITTING TUESDAY, 25 JUNE 2019 Page: 260 the higher education backlogs. We must build more state-of-the- art universities with sufficient residencies and academic capacity and research that produce world-class graduates who will lead innovation, that will fuel and grow our economy. These are graduates whose ground breaking innovative ideas must be supported financially. Innovation is key to economic development and industrial growth. The burning spirit of entrepreneurship that lives amongst our youth must be supported. Development finance institutions must fund innovative ideas on the soundness of the business case and never on the basis of financial standing in society, which was inherently imposed to our young by pre-existing historically disadvantaged backgrounds. How do we expect a fresh university graduate beaming with innovative ideas to have accumulated assets to be used as collateral? The rolling out of small business incubation centres will change the destiny of many young South Africans as they will provide youth start-up companies with both financial and technical support. In the year 2015 a grant funding of the National Youth
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UNREVISED HANSARD JOINT SITTING TUESDAY, 25 JUNE 2019 Page: 261 Development Agency, NYDA, for an amount of just R49 590 given to Frutee Belliez which is owned by Lisa and Lona Mthethwa in Durban for their idea of producing healthy snacks and smoothies using fruits and vegetables, today employs 10 people of which nine of those people are below the age of 35. Surely, if we are to make an investment in young people will see more jobs being created for young people. [Applause.] Young people will no longer be bystanders and watch the mineral resources from the belly of their motherland leave to create jobs for international communities. The implementation of a targeted beneficiation program through the introduction of export tax will ensure greater local use of our resources which will in turn create local jobs. This will be the backbone of our industrial parks and special economic zones.
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  • Fall '08
  • Finklerberg

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