NYDA – It is an established fact that a dispirited and incompetently educated youth is a recipe for socio-economic disaster. Statistics currently show that South Africa has one of the youngest populations in the world at 24.9 years.The need to provide these young people with life empowerment opportunities is therefore huge. It is for this reason that the National Youth Development Agency (NYDA) was established.
NYDA was established in 2009 with the aim of creating and promoting coordination in youth development matters.This hugely popular institution has become a source of finance for start-up and expansion of companies owned by young people.
This funding facility is focused on young people with personal business potential and potent business plans which are yet to fully fledge.These young people are then provided with financial and non financial business development support.
Financial support provided ranges from a minimum of R1,000 to a maximum of R100,000. It is however a condition that those who wish to access this finance should commit to participate in the NYDA mentorship and voucher programme for a minimum of 2 years.
The criteria to qualify for this finance include the fact that applicants must be between the ages of 18 to 35 years with the necessary skills and experience, applicants must be South African citizens with ID documents and the business must be locally based, applicants must also be involved in the operation and management of the business on a day-to-day basis, the business may be formal or informal but must be categorised as a micro-enterprise, etc.
National Youth Development Agency (NYDA) can be contacted on 0866066563.