The KwaZulu-Natal Provincial Government is to unveil a Youth Fund that aims to assist deserving young people to kick-start their business ventures.
First of its kind, the KZN Youth Fund follows a comprehensive research by Youth Directorates of both the Premier’s Office and KwaZulu-Natal Department of Economic Development, Tourism and Environmental Affairs, that identified a huge gap in youth business financial aid.
The fund aims to assist deserving young people to kick-start their business ventures, fund new innovative business ideas and to expand young people’s existing businesses without the red tape associated with the traditional ways of accessing funding.
The youth fund will bridge this gap by expediting the funding process especially to those businesses in the rural areas.
The fund also received the nod from the provincial Cabinet after passing through stringent scrutiny.
Acting KZN Premier Sihle Zikalala will officially launch the fund on Thursday at the Department of Public Works in Mayville, Durban.