The National Youth Development Agency (NYDA) welcomes the establishment of the new Ministry for small, micro, medium enterprises (SMME) and cooperatives under Lindiwe Zulu by President Jacob Zuma. This comes after the President of the Republic announced his new cabinet to the media and to the public today.
According to the NYDA Executive Chairperson Yershen Pillay, “We are jubilant about the new ministry that will assist the growth and development of small businesses and we are confident that young South Africans will benefit the most from such a ministry. The NYDA has always emphasised the importance of economic inclusion especially of youth and the appointment of a new ministry, tasked solely with focussing on SMMEs and cooperatives, shows governments’ commitment to empowering small business and boosting job creation. We look forward to working closely with every government department under the new Cabinet but especially with the new ministry to ensure that the youth are prioritised and are able to receive tangible results from policies and legislation of the new ministry.”
The NYDA Grant Programme and the NYDA Mabhida Cooperatives Fund are two flagship programmes currently implemented for young entrepreneurs and during the 2013/14 financial year, the NYDA successfully provided R25 million to 675 micro and small youth enterprises.
For media enquiries contact:
Nawhal Kara‐Foster
Cell: 084 894 2213
E-mail: Nawhal.kara‐foster@nyda.gov.za
