The National Youth Development Agency (NYDA) has unveiled a R2.5 billion youth empowerment initiative to support small businesses and address rising unemployment among young South Africans. The fund will provide financial assistance ranging from R750,000 to R2 million per enterprise, targeting sectors such as agriculture, renewable energy, industrial development, and property ownership. Funding will be sourced from both local and international partners over the next three years.
Deputy Chairperson Bonga Makhanya highlighted that the initiative is structured to offer young entrepreneurs access to both loans and equity, enabling them to grow sustainable businesses and contribute meaningfully to the economy. He emphasized the fund’s particular impact on SMEs in the agricultural sector, which often face difficulties in securing financing.
Makhanya also stressed the importance of collaboration between government bodies, the NYDA, and private-sector partners to maximise the initiative’s effectiveness. He noted that while funding alone is not sufficient, combined efforts and strengthened support from various stakeholders will enhance the initiative’s reach and ensure that young South Africans receive the resources and opportunities they deserve.
