South Africa's unemployment rate increased by 0.3 of a percentage point to 27.5% in Quarter 3 of 2018. The unemployment rate has fluctuated between the 20% and 30% band for the last 10 years (Quarterly Labour Force Survey Q3:2018: Statistics South Africa).
While we have witnessed a transition to democracy and progress to economic equality in South Africa since 1994, unemployment and youth unemployment in particular has remained at critical levels. Many young people remain largely unemployable, except to unskilled or temporary employment. This is a direct consequence of an economic legacy and education system which excluded or was largely inaccessible to the vast majority of our youth. Without addressing youth unemployment, South Africa will probably remain as one of the world's most unequal economic societies.
TSIBA was founded in light of this context. Its education and emerging business support offerings were designed to enable talented young people from under-served communities to transition from a position of unemployability to one where they emerge as active economic citizens and participants in the building of the democracy in our country. We have successfully achieved this by providing access to education, academic and emotional support mechanisms and curricula that ensure that students succeed in their studies, gain access to employment or post-graduate education, or obtain the knowledge and skills to start or grow emerging business enterprises. In these objectives TSiBA has achieved meaningful impact.
Since inception in 2004 TSIBA has awarded over 900 business certificate and degree qualifications, more than 4500 annual tuition scholarships and enabled hundreds of small and emerging business enterprises. This groundwork has resulted in an incredible output, with a 93% post-graduate employment rate.
More recently the concept of access to economic activity has shifted to active participation in the 4th industrial economy. While TSIBA has long addressed the human skills required to adapt to rapidly changing and demanding business requirements, specific curriculum and course content across all TSIBA programs now directly addresses Industry 4.0 skills and digital adaptability. Our impact model is built on the very pillars of flexibility to changing business environments and the development of skills required to thrive, innovate and offer value.