A glimpse into the ever-more vital world of corporate social investment and BBBEE, where Nestlé is a sponsor of the Youth Employment Scheme (YES), a non-profit organization (NPO) that works with business, government and labour to build economic pathways for black youth. In just 22 months in operation, YES has created over 40,507 new work experiences with more than 1,200 private sector partners, including Nedbank, Absa, VW and Nestlé, resulting in the generation of over R2.2bn in youth salaries. For Nestlé, their involvement in YES is part of a broader strategy of job creation. “We have invested R1.6bn in job creation, skills development and community upliftment projects in the past year,” says Bruno Olierhoek, Chairman and Managing Director of Nestlé East and Southern Africa Region (ESAR). “This figure included investments of R52m to support emerging black farmers through our dairy projects in the Eastern and Western Cape, as well as incremental spend of R100m on black rural development projects across the country”.
Comment: Excellent work, of just the sort needed to get us out of our current predicament (see Trade Environment, below.)