The National Youth Development Agency has signed a Memorandum of Understanding (MOU) with the South African Centre for Organisational Development (SACORD), an entity representing the Youth and Graduate Entrepreneurship (Y-Age) Programme. The two parties will implement activities that will contribute towards reaching Y-AGE’s target of building 125 000 entrepreneurs by end of 2014.
Aims of the partnership include to:
- facilitate enterprise development and funding support for qualifying youth enterprises
- undertake a campaign to mobilise stakeholder awareness and collaborations on issues of youth entrepreneurship
- create capacity necessary to support the Y-AGE delivery model
- contribute to government efforts to create jobs
- improve South Africa’s Total Entrepreneurship Activity (TEA) by encouraging entrepreneurship amongst young people in schools, FET colleges, universities and communities
- facilitate access to markets for youth and Y-AGE participants in particular
These objectives will be achieved through various initiatives including the NYDA Y-AGE Fund, the Y-AGE School Outreach, a Voucher System to support business plan development and review, access to markets through the Business Opportunity Support Services (BOSS) and the Business Mentorship Programme.
“Vigorous entrepreneurial activity and innovation is needed to alleviate South Africa’s high unemployment levels. Through this partnership we will continue to encourage a culture of entrepreneurship among young people and ensure that youth development continues to thrive,” says Steven Ngubeni, NYDA CEO.
According to Seomanele Mashishi, the Executive Chairperson of SACORD, Y-AGE was established as a result of acknowledging the enormity of the unemployment challenge and the need to take action. “Instead of blaming government it’s time that we each take it upon ourselves to do something. By working with the NYDA we are confident that we can make a difference,” he concludes.
For media enquiries only, please contact:
Refilwe Mphane
Tel: 011 651 7175
Cell: 071 037 6559
E-mail: rmphane@nyda.gov.za
