By Bahle Gama
The Youth Enterprise Revolving Fund (YERF) has disbursed over E135,000 to the second batch of beneficiaries.
Five young businesspeople were officially awarded the respective amounts ranging from E15,000 to E40,000 each as per their application and approval of business plans by the YERF.
This disbursement follows a month after the first batch was awarded E750,000 respectively on May 31, 2024.
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YERF CEO Mandla Nkambule congratulated the second batch for being approved and stated that the main test for the businesspeople would be the implementation of the business plans that were approved by the fund.
“The purpose of the Fund is to improve the economic living of emaSwati and enhance employment opportunities through the businesses being funded,” he said.
The CEO encouraged the youth of Eswatini to participate in starting businesses and utilising the fund to stimulate the economy.
Businesses awarded included one in honey supply and production, mobile money, and a grocery shop amongst others.
He further advised the young businesspeople to have a long-term vision for their businesses and take advantage of any growth opportunities availed to them.
Nkambule urged the beneficiaries to utilise all services provided by YERF and its partners to grow their businesses and the country’s economy in the process.
The CEO further stated that they have decided to also up the approach to sensitise about the Fund by taking it to the community level whereby, the youth is brought together at their respective constituencies and taught about businesses and how to access funding from YERF.
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“The approval of these loans means the businesses have a high possibility to succeed and grow and we hope beneficiaries will show through their hard work and change behaviour that they are deserving of this opportunity,” Nkambule said.
According to Nkambule, YERF has disbursed about E30 million to the country’s youth in 15 years since its inception.
He reiterated that a lot of businesses have been birthed through the Fund in agriculture, transport, and auto spares, and many continue to thrive such that they survived even the Covid-19 pandemic.
What remains a concern, however, is whether everyone has accessed the Fund, and the scale is equal in terms of gender.
The split by gender shows that 70 per cent are males and 30 per cent are females, which means it is skewed.
|
Beneficiary |
Amount |
|
Spaza Shop |
E15,139 |
|
Mobile Money and Printing |
E20,000 |
|
Honey Supply and Production |
E30,000 |
|
Grocery Store |
E30,000 |
|
Animal and Veterinary |
E40,000 |
