Skills in South Africa (IFC-604960)

Countries
  • South Africa
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 3, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
*Borrower information not provided at the time of disclosure*
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 20, 2021

Disclosed by Bank Oct 11, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The Objective of Skills in South Africa Project is to improve employability-related processes and operations in tertiary level education institutions (TVET, colleges, and universities) in South Africa and thus help institutions to provide improved employability services to students. This project takes a programmatic sector level approach by engaging both public and private institutions to develop a sector level “language” and data-driven understanding of employability.

Graduate unemployment is one of the most pressing problems in South Africa that poses a severe economic challenge. The unemployment rate in South Africa is 28%, and 56% is attributed to youth unemployment, making them the most vulnerable in the South African labor market. Enhancing students' employability outcomes in South Africa by producing graduates with the right skill set who are equipped to meet the demands of the labor market is crucial for promoting economic and social development. Supporting the Higher Education Institutions on the journey to deliver better employability outcomes will significantly impact the quality of graduates in the long term and support the business case for private sector provision for tertiary education services in South Africa.

IFC is the largest multilateral investor in private education in emerging markets and has invested nearly US$2 billion in this sector globally since 2000. IFC has now developed an advisory offer to complement its investment activity in education. IFC’s Employability Tool is an innovative appraisal instrument which assesses tertiary education providers, including vocational training institutions, on delivery of employability outcomes in a systematic manner. The assessment provides a 360 degree view of an institution’s approach to student employability, including employability strategy and governance, the relevance of teaching and learning to labor market developments, approaches to career services and alumni management, as well as incorporation of employer engagement and information technology.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

*Contact information not provided at the time of disclosure*

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org 

How it works

How it works