SONA prioritises youth and women development
Development interventions also include creating a larger market for small businesses
THE National Youth Development Agency (NYDA) and the Department of Small Business Development will provide grant funding and business support to 1 000 young entrepreneurs over the next 100 days.
This forms part of the presidential youth employment intervention programme to create opportunities for youth employment and self-employment, highlighted by President Cyril Ramaphosa in his State-of-the-Nation Address (SONA) last night (Thursday).
‘More than half of all young people are unemployed. We need to make this country work for young people, so they can work for our country,’ said Ramaphosa.
He said government aims to assist 100 000 young entrepreneurs over the next three years to access business skills training, funding and market facilitation.
‘Given the necessary support, young people can create their own opportunities.’
He said special attention would also be given to the empowerment of women, which is critical to inclusive economic growth.
‘We are introducing the SheTradesZA platform to assist women-owned businesses to participate in global value chains and markets.
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‘Over the next five years, the Industrial Development Corporation is targeting R10-billion of own and partner funding for women-empowered businesses,’ he said.
Development interventions also include creating a larger market for small businesses.
‘We plan to designate 1 000 locally produced products that must be procured from small, medium and micro-sized enterprises (SMMEs).
‘The Procurement Bill will soon be presented to Parliament as part of our efforts to empower black and emerging businesses, and advance radical economic transformation,’ Ramaphosa said.
