Aspiring young entrepreneurs in Mafikeng in 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 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 them active participants in the national economy and job creation.
For most young South Africans entrepreneurs obtaining finance from conventional commercial lenders is a very real challenge. Often young aspiring entrepreneurs are rendered ineligible for finance due to their financial backgrounds coupled with stringent funding criteria. This partnership is aimed at creating an enabling environment will help unearth the potential of youth entrepreneurship. It is a national priority, as articulated in the National Development Plan, 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.
Mafikeng is the fourth province in which the three institutions will promote the youth funding initiative in. The previous roadshows took place in Pietermaritzburg, Port Elizabeth and Mpumalanga.
Members of the media are hereby invited to the event that will be taking place in Mafikeng where the honourable Deputy President Mr Cyril Ramaphosa will give the key note address. Also in attendance will be the honourable Premier of the Northern Cape Mr Supra Mahumapelo, the CEO of IDC Geoffrey Qhena, CEO of sefa Mr Thakhani Makhuvha and NYDA CEO Mr Khathutshelo Ramakumba.
Details of the event are as follows:
Date: 18 July 2014
Time: 07h30 – 12h00
Venue: Mabatho Convention Centre, Mafikeng, Northern Cape
For more information or to RSVP your attendance, please contact:
Jane Moshoeshoe
Tel: (011) 651 7138
Cell: 084 481 7182
Email: jane.moshoeshoe@nyda.gov.za
Zandile Mdluli
Tel: (012) 748 9671
Cell: 071 413 1933
Email: zandilemd@sefa.org.za
