Page 75 - Risk Report 2024

IRMSA
75
RISK REPORT 2024/25

• The absence of a clear educational organogram obstructs the smooth transition to the next level of education,
exacerbated by assessment mechanisms that are overly generic for current learners.
• Insufficient structure, guidance, and/or financial support for young people who wish to start businesses
directly after matric without following a conventional tertiary education route.
• Inequality and readiness of learners may be insufficient, due to inappropriate preparatory methods of learners
into each stream as many learners come from disadvantaged backgrounds without exposure to certain
educational materials and infrastructure. Individuals pushed through tertiary and managerial qualification
programs without any experience of the activities to manage, coupled with deficiencies in basic language and
computer skills, severely hamper academic and workforce success.

If unaddressed, the risk consequences include the following:
• Pursuit of graduate number targets without real educational impact, resulting in financial resource wastage,
growing youth unemployment, economic decline, and perpetuating poverty.
• Flooding of the market with a workforce lacking in skills, knowledge, workplace etiquette, and confidence, all
of which compromise productive value creation and diminish SA’s global competitiveness.
• Graduates who are unable to withstand corporate pressure, due to not being well-prepared when they step
into careers that differ from their expectations (in the absence of practical exposure while studying); resigning
to “pursue their passion”.
• Inability to create sustainable jobs and resultant emigration of critical skills and knowledge.

Risk Impact on Economic Sectors

Agriculture, Forestry & Fisheries 5 Mining 8
Communication 7 Professional Services 11
Construction & Real Estate 12 Public Service / Government 10
Education 4 Sport & Recreation 14
Energy 1 Tourism & Hospitality 15
Healthcare 6 Retail, Trade & Commerce 3
Financial Services 9 Transport & Logistics 13
Manufacturing 2 Non-Profit / Civil Society / NGOs 16