700 youth apply for share of R90 million in Premier’s project

700 youth apply for share of R90 million in Premier's project
HOPE: The Mpumalanga Premier's office has announced that dozens of youth businesses are set to benefit from her R90m funding bonanza. PICTURE BY Poverty Labs

The project aims to empower young people as joblessness rages on at 61%.

Premier Refilwe Mtshweni-Tsipane has revealed that there are currently 700 applications received for her R90 million project.

The project aims to assist young who are affected by the high and rising unemployment rate in South Africa.

Currently, Mpumalanga has 61% of young people who are unemployed.

Tsipane said in her Office of the Premier’s policy and budget vote speech Friday 11 June 2021 addressed a number of issues affecting the people of the province, such as economic recovery plans for businesses affected by Covid-19.

She said a Lekgotla held in February and March 2021 resolved that her government’s effort should be to rebuild the economy of Mpumalanga.

Therefore, an amount of R90 million is set aside to support youth entrepreneurs, she told the Mpumalanga legislature.

She said when supporting youth businesses it will be done in two phases. “The project will be rolled out in a two-phased approach, the [first] pilot phase is for a period of 3
years with 100% grant and the [second] full-scale phase, which will be in the form of a grant or loan,” said the Premier.

“The Mpumalanga province continues to feel the negative impact of the depressed economy and rising numbers of unemployment, through the rise of gender-based violence and femicide,” she said.

She said the distribution of the funds will occur once the Mpumlanga Economic Growth Agency (MEGA) signs a memorandum of agreement with her office last week of July 2021.

“The Office of the Premier has established the different work streams comprising relevant skills to enhance our capacity to speedily and efficiently rollout the project. To ensure good governance, accountability and integrity of the process, an oversight governance structure has been put in place by the executive council,” she added.

(edited by ZK)
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