Youth owned businesses receive R 2,7 billion funding

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Youth owned businesses are exciting, but the chances of them becoming established businesses (i.e. in business and profitable after 36 months) are remote. As the debate has raged on whether to fund young entrepreneurs, or older entrepreneurs a range of opportunities have opened up for both. The latest opportunity  fund valued at R 2,7 billion and jointly funded by the Industrial Development Corporation (IDC), National Youth Development Agency (NYDA) and the small enterprise finance agency (sefa).
Details on the exact rules covering the fund are sketchy however several indicators on the direction are provided:
 

  • Loan finance: IDC chief executive Geoffrey Qhena says the corporation has set aside R1-billion at prime less 3% to fund youth-owned businesses that will create jobs. Similarly,  SEFA will provide loan finance for start-up and expansionary businesses contributing R1,7 billion.
  • Business support: The NYDA Chief Executive Khathu Ramukumba has indicated that they will provide pre-investment business support in the form of grants, mentorship, and access to their voucher programme.

To find out more about this funding opportunity, please contact the following organisations:
NYDA
Call centre: 0800 52 52 52
E-mail: info@nyda.gov.za
Twitter: @NYDARSA
Facebook: National Youth Development Agency
www.nyda.gov.za
IDC
Call Centre: 086 069 3888
E-mail: callcentre@idc.co.za
www.idc.co.za
SEFA
Call Centre: 086000 7332 (sefa)
E-mail: helpline@sefa.org.za
www.sefa.org.za
NYDA Cape Town Office
Shop P 18A Piazza
Golden Acre, Adderley Street
Tel: 021 415 2040
E-mail: stephen.curry@nyda.gov.za
IDC Cape Town Office
Suite 2817,
28th Floor ABSA Centre,
2 Riebeeck Street, Cape Town
Tel: 021 421 4794
Email: lizon@idc.co.za
sefa Cape Town Office
9th Floor, FNB Building,
2 Long Street, Cape Town
Tel: 021 425 6774
E-mail: violan@sefa.org.za

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2 thoughts on “Youth owned businesses receive R 2,7 billion funding”

    • Hi.My name is nditsheni lm from limpopo in thohoyandou ,tshikambe village.lm 33 year old married woman .l was studying in vhembe fet college for the past three year.l have level 2 3 4 of finance economic and accounting and n4 to n6 of financial management and computer literacy and call centre that all my certificates l have and lm afraid of getting in the 35 year without a job l apply a lot of job and l don’t have received a call of interview .l think it’s because l don’t have any experiences.l can’t afford to do a practical without earn a cent l have two children l must look for.My husband he is a self employers but it’s tough to get a customer he has only grade 12 .and knowledge of doing celling and cabaret no certificates of what he is doing.life is not easy for us to support our child we end up in debts.as lm talking we are blacklisted .so l don’t know l can’t stat l like to open my own business.but l don’t know what kind of business l need help even if it’s opportunity to do internship to have an experience or job anything .for now we live in kzn my husband find a piece job so l here looking for job too it’s been three month l live here but no luck for job

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