With a staggering 60.2% of young South Africans aged 15-24 not having participated in either the formal or informal work environment in Q3 2024, and the national unemployment rate having increased from 5.2 million in Q3:2014 to eight million in Q3:2024, the role of entrepreneurship as a path to economic security and independence has never been more crucial.
As it stands, entrepreneurship in South Africa is a driving force behind economic growth, especially in the small, medium, and micro enterprise (SMME) sector, which supports over 13 million employees. However, our SMME failure rate is among the highest in the world. To help stop this bleed, Centennial Schools has developed a school curriculum designed to equip learners with the entrepreneurial skills that will help contribute to combating unemployment crisis in South Africa.
Centennial Schools’ CEO and founder, Shaun Fuchs, says that, because young South Africans can no longer rely on the formal sector for employment, it has become imperative to equip them with the acumen they need to start and run businesses that thrive. “At Centennial Schools, we are committed to empowering our learners by fostering entrepreneurial mind- and skill sets from as early as Grade 6. We prepare our learners to excel in a world where job security is no longer guaranteed.”
Centennial Schools’ curriculum equips learners with essential knowledge in marketing, financial management, innovation and networking, as well modern-day essentials like coding, content creation and cryptocurrencies. In addition, the school has established partnerships with active entrepreneurs that enable learners to spend time in real-world work environments, gain exposure to practical challenges, and contribute to forming solutions.
Most recently there has been a push for government policies that support entrepreneurship, enhance vocational training, improve access to finance, and encourage private-sector investment – and, while the wheels have slowly started turning, it’s clear that more needs to be done, much faster. Fuchs believes that looking beyond the basics of business positions the school’s learners to both contribute to, and benefit from, the economy.
“There is a real need to provide learners with a future-forward education that harnesses technology, encourages lateral thinking, and teaches skills they can take forward with them. By instilling an entrepreneurial mindset and practical skills, we are helping our learners to take charge of their futures, and ultimately, to help build a stronger economy.”
Centennial Schools, a pioneering 21st-century educational institution, recognises the importance of re-evaluating the education system and incorporating subjects that address societal challenges while equipping learners with the skills they need to thrive in the future. Starting in 2025, Centennial Schools will expand to include more grades, providing more learners with exposure to these forward-thinking subjects.
