Development finance institutions to promote youth funding in Mahikeng

Aspiring young entrepreneurs in Mahikeng in the North West will have a chance to engage the Industrial Development Corporation (IDC), Small Enterprise Finance Agency (sefa) and the National Youth Development Agency (NYDA) on how to access finance offered by the three institutions. In October 2013, the three institutions partnered and launched a R3.1-billion initiative aimed at providing funding opportunities to businesses owned by young entrepreneurs – 35 years old or younger. The three-way partnership between the IDC, sefa and the NYDA is a catalyst for developing viable youth entrepreneurship and making youth active participants in the national economy and job creation.
 
Obtaining finance from commercial lenders us a real challenge for most young South Africans. Often young aspiring entrepreneurs are rendered ineligible for finance due to their financial backgrounds and the commercial banks’ stringent funding criteria. This partnership is aimed at creating an enabling environment which will support youth entrepreneurship. As articulated in the National Development Plan, it is a national priority to find ways to create jobs and build the economy in a sustainable way. Particular focus is placed on the youth, who bear the brunt of unemployment.
 
Mahikeng is the sixth province in which the three institutions will promote the youth funding initiative. Roadshows have taken place in Kwa-Zulu Natal, Free State, Eastern Cape, Limpopo and Mpumalanga.
 
Members of the media are invited to the event that will be taking place in Mahikeng, details are as follows:
 
Date: 18 July 2014
Time: 08h00 – 12h00 (Registration: 07h30)
Venue: Mmabatho Convention Centre, Mahikeng, North West.
 
The CEO of the IDC Mr Geoffrey Qhena, the CEO of sefa Mr Thakhani Makhuvha and NYDA CEO Mr Khathutshelo Ramakumba will be addressing the young people and sharing more information with regards to this partnership. The honourable MEC for Treasury & Enterprise Development in the North West Ms Wendy Nelson will deliver the key note address.
 
Ends.
 
 
For more information or to RSVP your attendance, please contact:
Jane Moshoeshoe
Tel: (011) 651 7138
Cell: 084 481 7182
 
Innocent Ndima
Tel: (012) 748 9682
Cell: 079 846 1587

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