Former Reserve Bank governor Tito Mboweni on Friday said South Africa’s biggest challenge is a skills shortage.
Mboweni was addressing the Black Management Forum’s Young Professionals Development Summit in Cape Town.
He said the country produces just over 200 engineers a year and only four percent of matriculants have higher grade mathematics.
He said 72 percent of the unemployed are under the age of 35.
Mboweni said the country needs the skills set for the manufacturing and services sectors.
He believes jobs are available in the areas of accounting and actuarial science and that mechanical and civil engineers are needed.
Mboweni added that graduate unemployment is also a big problem, largely because students are studying the wrong subjects.