Huge cash injection for Cooperatives
A number of youth owned cooperatives from Tshwane will receive close to R500 000 00 worth of NYDA Entrepreneurship Grant Funding. The Grant funding will go towards equipping the cooperatives with equipment and operational costs needed to bolster their businesses and operations. The NYDA has partnered with the City of Tshwane as part of the City’s Tshepo 10 000 initiative aimed to alleviate poverty and unemployment among the city’s youth. The City of Tshwane has assisted 600 cooperatives each with a minimum of 8 members to formally register.
As part of the partnership the NYDA has so far trained 62 of the 600 cooperatives on Enterprise Development Training, Life-Skills and Job Readiness. A cheque hand-over ceremony will take place at the NYDA offices in Tshwane this coming Friday 22 May 2015, where NYDA CEO Mr Khathu Ramukumba will hand over the grant funding to the 10 youth owned cooperatives.
As part of the cheque handover ceremony, the NYDA and the City of Tshwane will also be hosting a Youth Cooperatives Enterprise Fair where a number of NYDA funded businesses will be exhibiting and selling their products. The Cooperatives Fair seeks to promote the establishment of cooperatives among young people, to demonstrate the support available as well as to assist cooperatives with issues of compliance.
Among the other exhibitors expected to attend the Fair include the Department of Small Business Development, Department of Trade and Industry, the South African Manufacturing Demonstration Centre, Fraser Alexandra and Small Enterprise Development Agency. About 300 young people are expected to attend the fair.
Members of the media are invited to the handover/Cooperatives Fair as follows:
Date: Friday 22 May 2015
Time: 11h00 – 13h00
Venue: 429 Shoburg Building
Stanza Bopape and Nelson Mandela Street,
Pretoria, 0001
For enquiries contact:
Siyabonga Magadla
E-mail: Siyabonga.magadla@nyda.gov.za
Mobile: 083 686 9016
