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LGT Venture Philanthropy provides follow-on investment to Harambee, tackling youth unemployment in South Africa

September 14, 2022

With the three-year investment, LGT VP will support Harambee's new role as South Africa’s National Pathway Manager.

LGT Venture Philanthropy Foundation (LGT VP) is delighted to announce its continued engagement with Harambee through a three-year follow-on investment. Harambee is a non-profit organization working to address the youth unemployment challenge in South Africa. This follow-on investment will help Harambee to expand to new priority sectors in the economy, unlock mass employment opportunities for youth, and redesign the organizational structure to align with the needs of its five year strategy.

Most ambitious multi-stakeholder effort in Africa to address youth unemployment

Founded in 2011, Harambee manages arguably the largest privately-managed youth network in Africa, aggregating and making visible opportunities from public, private and social partners across the country. This enables Harambee to gather valuable data on opportunities, experiences, and barriers youth face today and identify how best to support them in a context of increasing job shortages. Since inception, Harambee has provided work-seeker support to over 2.7m work seekers and enabled over 870,000 earning and learning opportunities.

Bold new strategy that aims to increase incomes of 1 million African youth by 2026

LGT VP is now three years into its partnership with Harambee and continues to believe in the organization’s model and ability to improve access to income earning opportunities for unemployed youth. During the COVID-19 pandemic, Harambee partnered with the South African government to develop a national pathway management network - a free, multi-channel platform that aggregates job opportunities and provides work-seeker support to millions of young women and men that are excluded from the labor market. This partnership resulted in a new five year systems change strategy that aims to transform the work-seeking experiences of 3 million youth, including increasing the incomes of at least one million youth by 2026.

Read the full press release here.