KZN govt initiative targets youth-led enterprises
Aspiring entrepreneurs in Durban have welcomed the announcement by local government that it's pumping R50-million into youth-owned businesses in the province.
Acting Premier, Sihle Zikalala said yesterday that the KZN Youth Fund will provide financial assistance to youth led companies.
Thabile Buthelezi, a social entreprenuer from KwaMashu, is excited.
"I'm very excited about the honesty and the robust interaction that was revealed today. I'm hoping this is not just a seminar but they will actually have beneficiaries of this fund," Buthelezi said.
Lungelo Nzunza, from Nkandla, wants to be a farmer - says young people from disadvantaged communities need to be educated on how to run a business
"We still need more of an administrative consultancy for black businesses. By administrative consultancy, I mean that our people are afraid of venturing into such because they don't understand administrative processes that are involved," Nzunza said.
“There are going to be different processes that an application will go through before they are approved but it won’t take long” - @sziks Acting @KZNPremier #KZNYouthFund @ECR_Newswatch pic.twitter.com/yrd6n2MCAn
— Sandile “Mr fōmō” Zikhali (@Bangibiza_uJeff) January 31, 2019
“Through this fund, all the young entrepreneurs that will qualify for funding will receive proper training and guidance to ensure sustainability” - Sihle Zikalala (Acting #KZN Premier) #KZNYouthFund @ECR_Newswatch pic.twitter.com/ZEKLuVz6wE
— Sandile “Mr fōmō” Zikhali (@Bangibiza_uJeff) January 31, 2019
[#KZNYOUTHFUND] Acting @KZNPremier: We must point out that the financed assets will remain the property of @KZNGOV and only transferable to another youth entity if the initially financed entity fails to continue operating within the first three (3) years. pic.twitter.com/kgvT7PNKem
— KZN Provincial Gov (@kzngov) January 31, 2019
The fund will assist viable business that are 80% owned by young people between the ages of 18 and 35.
Young people are urged to visit the KZN Growth Fund website for contact details or visit their local municipality offices for enquiries.
