The Eastern Cape Provincial Government has made strides in empowering young entrepreneurs, through the Isiqalo Youth Fund, an initiative that is aimed to support legally registered, youth-owned businesses across the province.
The fund is part of a broader strategy to foster youth development, promote entrepreneurship, and create sustainable employment opportunities in the province.
Launched in June 2019, the fund forms part of a broader provincial strategy aimed at fostering youth development, promoting entrepreneurship, and creating sustainable employment opportunities.
The fund provides both financial and non-financial support to businesses that are still in the early stages of growth.
To ensure accessibility, the Office of the Premier opens an annual application window, allowing young entrepreneurs to submit their proposals via a dedicated online portal. The call for applications is widely publicised through official websites, social media platforms, and municipal public notice boards across the province.
According to the provincial government, the initiative has already yielded tangible impact, with a total of 82 youth-owned businesses having been approved for support through the Entrepreneurship and Empowerment Programme during the previous term.
Of these, 22 enterprises have received funding, with over R12 million disbursed. The remaining 60 entrepreneurs have been identified in the programme pipeline and are scheduled to receive financial support during the current financial year.
“In addition to financial support, the initiative will offer business development training, mentorship, and market linkage facilitation to help improve the sustainability and growth potential of the supported enterprises,” the provincial government said.
Efforts are also underway to strengthen monitoring and evaluation mechanism to better track the impact of the fund and enhance accountability.
Eastern Cape Premier Lubabalo Oscar Mabuyane, highlighted the province's commitment to expand the reach and impact of the programme through deeper collaboration with financial institutions and private sector partners.
He added that public awareness campaigns will be intensified to ensure that more young people are informed about the fund and can benefit from the initiative.
“Isiqalo Youth Fund is not just about disbursing money, it is about building a new generation of confident, capable entrepreneurs who can transform their communities.
“Young business owners across the Eastern Cape are urged to stay informed about future application windows, by following updates on official government platforms,” Mabuyane said. – SAnews.gov.za
