On Wednesday 22 October 2014, aspiring young entrepreneurs in Hammanskraal in the City of Tshwane, 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. This event will mark a year since the launch of this initiative in October 2013 and Gauteng is the last province in which the three institutions are visiting to promote the youth funding initiative. Roadshows have taken place in Kwa-Zulu Natal, Free State, Eastern Cape, Western Cape, Northern Cape, North West, Limpopo and Mpumalanga.
The three institutions have partnered and launched a R2.7 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.
Members of the media are invited to the event that will be taking place in Hammanskraal, details are as follows:
Date: 22 October 2014
Time: 8h00 – 12h30 (Registration: 7h30)
Venue: Nickelodeon Room, Carousel Hotel, Hammanskraal
The CEO of the IDC Mr Geoffrey Qhena and NYDA CEO Mr Khathutshelo Ramakumba will be addressing the 200 young people who will be attending the event and sharing more information with regards to this partnership.
For more information or to RSVP your attendance, please contact:
Linda Mbongwa
Tel: 011 651 7000
Cell: 082 315 3217
Email: linda.mbongwa@nyda.gov.za
Innocent Ndima
Tel: 012 748 9682
Cell: 079 846 1587
Email: innocentn@sefa.org.za
Mandla Mpangase
Tel: 011 269 3282
Cell: 082 880 6074
E-mail: mandlam@idc.co.za
