NYDA funds 1000 businesses in 100 days
Written by Botlhale Satsha on 23rd Jun 2020
In February, during the State of the Nation address, President Cyril Ramaphosa looked into South Africa’s past and spoke to its future. He talked at length about fixing the country’s fundamentals, the necessity of inclusive growth, critical actions to be taken this year to build a capable state and place the economy on the path to recovery and ensuring the excellence in planning and execution in government.
“We are confronted by the crisis of youth unemployment. Of the 1.2 million young people who enter the labour market each year, approximately two-thirds remain outside of employment, education or training.”
President Ramaphosa reiterated and went further to state that more than half of young South Africans are unemployed.
As a part of the government’s intervention, The National Youth Development Agency and the Department of Small Business Development were tasked to equip 1000 young entrepreneurs.
“In high school we weren’t really taught about the importance of ownership, owning your business, owning your brand, and building things that will last 100 years from now.”
Akani Khensani Matjokana, founder of Afro Dandyisma and a 19-year-old beneficiary of the project, spoke to Khutso Theledi on #KrunchWithKhutso about the funding he received from the NYDA and how it impacted his business.
Matjokana also said it took about 4-6weeks to get a response, but prior to that, he had to attend a 5-day course by the NYDA to help them understand the operations of a business, contracts and the fundamentals of running a business.
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Click here for more on how you can receive business help and funding from the NYDA