Impact Bond: Bonds 4 Jobs (South Africa)
Stage of development: Complete
Policy sector: Employment and training
Social challenge: Youth unemployment in South Africa
Intervention: The P4P initiative is designed to accelerate the transitions of excluded South African youth into growth sectors of the economy through alternative methods of skilling and training. The implementers all implement skilling programs that are quicker, cheaper and more demand driven than traditional programs. Implementers have to prove that they have secured an income earning opportunity for the candidates prior to receiving working capital. Implementers then train the candidates and place them into jobs within the three pre-specified "growth sectors" in the economy namely: Business Process Outsourcing, Digital and Technology and Installation, Repairs & Maintenance.
Date outcomes contract signed: 2018-01
Start of service provision: 2018-01
Anticipated end of service provision: 2021
Actual end of service provision: 2020-07
Anticipated completion date: 2021
Actual completion date: 2020-07
Dates notes: The project ended prematurely because of Covid-19 in July 2020. 
Total investment commitment currency: South African Rand
Total investment commitment: 75000000
Total investment commitment (USD): 8628109.499
Target population: South African citizens aged between 18 and 35 excluded from the economy
Targeted number of service users or beneficiaries: 6000
Targeted unit type: Individual
Actual number of service users or beneficiaries engaged: 2000
Actual unit type: Individual