The National Youth Development Agency (NYDA) has approved a business case to intensify the new and unique Business Grant Programme for youth owned microenterprises.
The NYDA grant programme was launched in June 2013 and has yielded great results. The business case will be tabled to the National Treasury requesting a further R25 million to scale up the programme and support a 1 000 more microenterprises in the next financial year.
According to Yershen Pillay, the NYDA Executive Chairperson, "When we first conceptualised the programme in 2013 the long term aim was to nurture a culture of small business development amongst the youth. We wanted to give young people an opportunity to take a bite at entrepreneurship knowing very well that we come from a skewed culture of job seeking without considering the possibility of being job creating entrepreneurs. This programme was meant to enlighten and support youth to think differently and take calculated risks in business. We believe that the programme is succeeding in advancing a culture of youth entrepreneurship in South Africa."
The NYDA has disbursed R25 million to 589 youth owned micro enterprises in the last financial year nationally. The demand for the NYDA business grant is however high and young people are starting to think more about starting their own enterprises as opposed to simply looking for a job.
The Deputy Minister of Performance, Monitoring and Evaluation in the Presidency, responsible for youth, Buti Manamela together with the NYDA Executive Chairperson yesterday conducted beneficiary site visits to two Grant beneficiaries in Cape Town.
The site visits took place at Ilundi Designs, a leather handbag and belt manufacturing company. Owned by a young female entrepreneur, a clothing and manufacturing company founded in 2011 by 26 year old Sofia Stodel and operates in Woodstock. While Andaz Auto Mechanics Cc, run by Anda Melane, a young entrepreneur operates his own motor mechanic in Philippi.
“The Deputy Minister was inspired by the two beneficiaries visited and after demonstrating the actual achievements of the NYDA we will convince the Deputy Minister to take forward the proposal of scaling up the NYDA Grant Programme,” says Yershen Pillay.
For media enquiries contact:
Nawhal Kara-Foster
Cell: 084 894 2213
E-mail: Nawhal.kara-foster@nyda.gov.za
Siyabonga Magadla
Cell: 083 686 9016
E-mail: Siyabonga.magadla@nyda.gov.za
