This is the prevailing message from the newly appointed MEC of Finance in the Free State, Gadija Brown, to the province’s youth, as she marks ten days in office. In a media briefing held at the Provincial Treasury’s headquarters in Bloemfontein on Thursday, May 13, the MEC emphasised the significance of youth entrepreneurship in growing the province’s ailing economy, as the country celebrates youth month.

She further lauded the youth, especially those living in the township, for their resourcefulness and ability to hustle as the country faces a soaring unemployment rate and an economy in a critical shape. Brown says the Provincial Treasury, along with its many stakeholders, including banks, other government departments and the National Youth Development Agency (NYDA), will continue to provide the youth of the province with support.

Statistics South Africa’s (Stats SA) labour figures for 2019’s quarter one indicate the Free State has the highest unemployment figures in Central South Africa. The province’s unemployment rate stands at close to 35%, more than 8% higher than both the North West and the Northern Cape provinces. Brown maintains government isn’t the only answer to turning the province’s economy around. “The government is top heavy when it comes to the compensation of employees and if the government takes on more people, the lack of services will increase,” the MEC warns.

In early 2019, Brown’s predecessor, Elzabe Rockman, revealed in her budget speech that the province contributed a paltry 5% towards SA’s total GDP over a three-year time frame. The Free State’s economy is predicted to improve marginally in 2019.

The then MEC attributed the province’s stagnant economy to a decline in the industries of agriculture and mining between 2009 and 2017. These industries are at the heart of the province’s economic activity. Stats SA reveals government is now the leading industry in not just the Free State but the Eastern Cape as well.

Brown has further committed herself to mentor ten young people from the province, for now, to help guide them on investing, saving and purchasing shares. The MEC expressed how passionate she is about ensuring that the youth understand how to grow their wealth, with the little assistance they are getting from the government, by using sound financial ideas.

OFM News