R2.7bn Allocated to Youth Entrepreneurs

R2.7bn Allocated to Youth Entrepreneurs

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Youth entrepreneurs will have R2.7 billion in funding available to them with the announcement by minister of Economic Development Ebrahim Patel that the Small Enterprise Finance Agency (Sefa) will put aside R1.7 billion in funding for youth entrepreneurs over the next five years.

This follows the announcement by deputy president Kgalema Motlanthe of a R1-billion fund set up by the Industrial Development Corporation (IDC) to finance youth entrepreneurship.

Patel said Sefa will aim this financial year to approve R220 million in finance to entrepreneurs aged between 18 and 35 years old.

 

Alison Job
Alison Job holds a BA English, Communications and has extensive experience in writing that spans news broadcasting, public relations and corporate and consumer publishing. Find her at Google+.