SA finance system doesn't support entrepreneurs - Gordhan

Minister Gordhan says citizens will have to become more “imaginative” as jobs get scarcer.

Finance Minister Pravin Gordhan. Picture: Christa Eybers/EWN.

CAPE TOWN - Finance Minister Pravin Gordhan says the country's financial system is not conducive to creating entrepreneurs.

Gordhan addressed the accelerating inclusive youth employment conference in Stellenbosch yesterday, where he described South Africa's youth unemployment rate of over 37 percent as a " national emergency".

The minister says together with connectivity and accessibility issues, entrepreneurs are also hampered by the financial system.

"The financial system in South Africa is not necessarily supportive to get young entrepreneurs going."

He adds citizens will have to become more "imaginative" as jobs get scarcer.

"As technology, self-driven cars and robots begin to take over the world, where is the normal work going to come from? Society needs to apply its mind to that."

Gordhan was among those praising government's efforts to address youth unemployment through the recently established Youth Employment Task Force.