Mpumalanga Premier, Refilwe Mtshweni-Tsipane will host a breakfast session to be attended by several beneficiaries of the Premier’s Youth Development Fund (PYDF) on Tueday June 27.
According to the Provincial Government Spokesperson George Mthethwa, the session will b held at Graceland hotel in Secunda, is part of the provincial activities to mark the youth month. Through the PYDF, the Mpumalanga Provincial Government procures the required assets and equipment on behalf of the youth-owned businesses, rather than transferring a cash amount direct to the beneficiaries.
“The procurement process is facilitated by the Mpumalanga Economic Growth Agency (MEGA). Since the inception of the fund, 97 youth-owned businesses have received financial support to the tune of R140 million, drawn from a wide spectrum of sectors such as mining, manufacturing, retail, ICT, transport and logistics, health and fitness, and restaurants,”
“The number of beneficiaries is expected to increase in the current financial year, as the Provincial Government has set aside a total budget of R114 million to support more youth-led business entities. At least 30 percent of this budget is earmarked for enterprises owned especially by the youth with disabilities,” said Mthethwa.
The PYDF is part of the Provincial Government’s youth empowerment initiative, aimed at reducing the high unemployment youth rate in Mpumalanga. The Premier’s breakfast session will create a networking opportunity for the beneficiaries to share best practices.