Mr Price Foundation

• Mr Price Foundation’s JumpStart programme created 6,500 retail jobs for unemployed youth
• Mr Price Foundation’s UpLift programme developed 154 entrepreneurs

Mr Price Foundation’s EduRise programme supported 25,000 primary school learners in KZN

DURBAN, 8 August 2024: Mr Price Foundation’s FY2024 Annual Integrated Report, for the period 2 April 2023 to 30 March 2024, highlights significant impact investment progress.

The report reveals the impact of the Foundation’s programmes on unemployed youth, as it champions responsible investment in youth skills development, entrepreneurship and education, together with its partners.

“The 2024 financial year was a rollercoaster ride, filled with the thrills of the highs and the challenges of the lows. But through it all, we remained focused in our efforts to ensure that no young person is left behind, especially in marginalised communities,” said Karen Wells, Head of Mr Price Foundation.

“It’s thanks to the outstanding support of our partners, volunteers and supporters that we could rise to the challenges and make a meaningful impact on youth empowerment,” Wells said.

JUMPSTART

In the reporting period, Mr Price Foundation invested R24.2 million in retail skills development through its JumpStart programme, upskilling 7,252 unemployed youth, with 90% of them securing employment at Mr Price Group, SPAR and the Foundation’s other employer partners.

“This means 6,571 youth were taken out of the unemployment line and into employment! These young people are now able to provide for their families, impacting around 32,745 people (calculated on a multiplier effect of 5:1),” said Wells.

UPLIFT

Mr Price Foundation invested R8.7 million into its UpLift small business development programme, placing 154 aspiring young entrepreneurs on the path to small business success in townships, agriculture and waste management.

UpLift entrepreneurs generated R1.3 million in revenue, with 10 micro, small and medium enterprises (MSMEs) established. In the HandPicked agricultural small business development programme, entrepreneurs harvested 1.47 tons of fresh produce, giving families access to better nutrition and generating collective revenue of R242,000.

The Foundation also supported 77 NPOs by donating R437,000 in product vouchers to Mr Price Group businesses. An estimated 5,322 beneficiaries across South Africa’s nine provinces benefited through these NPOs, which are aligned with the Foundation’s vision and purpose of unlocking tomorrow’s potential.

EDURISE

“Poor skills and education are the root cause of unemployment in South Africa. That’s why we invest significantly into improving education outcomes in lower socio-economic schools,” said Wells.

Mr Price Foundation invested R4.6 million into holistic education through its EduRise programme, impacting 40 primary schools, 25,214 learners and 62 educators in KwaZulu-Natal.

Given the scale of challenges confronting the education space, Mr Price Foundation completed an in- depth critical evaluation of the EduRise model and available research and adopted a narrow and deep focus to impacting numeracy and literacy in Foundation Phase in Hammarsdale in KwaZulu-Natal.

“The scope of youth unemployment in South Africa requires us to grow our programmes significantly. Our new Executive Director Octavius Phukubye will greatly assist us to scale our impact. We thank all our partners for supporting us to amplify our reach and create Hope4Youth. Together, we can impact more communities and more youth facing unemployment,” said Wells.

VIEW FY2024 ANNUAL INTEGRATED REPORT

VIEW FY2024 IMPACT VIDEO

VIEW FY2024 EXECUTIVE SUMMARY

Image Caption: Mr Price Foundation’s FY2024 Annual Integrated Report unpacks its impact investment progress in, upskilling 7,252 unemployed youth, empowering 154 entrepreneurs and developing 25,214 learners.