THE MINISTER FOR SMALL BUSINESS DEVELOPMENT WILL HOST A STAKEHOLDER ENGAGEMENT TO LAUNCH THE YOUTH CHALLENGE FUND

 

Minister for Small Business Development, Ms Stella Ndabeni-Abrahams will host a stakeholder engagement to launch a youth start-up support programme, the Youth Challenge Fund (YCF), in eThekwini, KwaZulu-Natal on 18 November 2021. The programme has been co-designed by the Department of Small Business Development and its agencies, the Small Enterprise Development Agency (Seda) and the Small Enterprise Finance Agency (sefa). The YCF is endorsed and jointly funded by the European Union (EU) Ecosystems Development for Small Enterprises (EDSE).

The YCF is a deliberated approach to assist in ensuring the economic participation of young people and is introduced as measure and key intervention in response to contributing towards economic recovery and accelerating the promotion youth businesses and self-employment. The fund follows a commitment made by President Cyril Ramaphosa during his State of the Nation Address 2021 to support 15 000 youth starts-ups by 2024.

The Department of Small Business Development and its agencies, are continuously expanding its programmes to present much greater opportunities for isolated and marginalised youth into the economic mainstream more importantly, designing targeted instruments to assist youth owned enterprises with enterprise development.

 

Members of the media are invited as follows:

Date: 18 November 2021

Venue : SmartXchange Technology Hub, 6th Floor, SmartXchange Building, 5 Walnut Road, Durban 4001

Time: 09h00 – 13h00

Enquiries: Ms Sendra Mashego

Director: Communication and Marketing

Mobile: 076 601 1564

Issued by the Department of Small Business Development

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