Summary
APSA Group announces the launch of a 12 million rand fund aimed at supporting young South African entrepreneurs, addressing the pressing issue of youth unemployment in the country. Struhani Manchidi, Managing Executive for Corporate Citizenship at APSA, emphasizes the importance of creating a supportive ecosystem for small and medium enterprises (SMEs) that allows for trial and error, as many entrepreneurs face significant challenges in securing funding and accessing markets.
Manchidi highlights the need for mentorship and role models within the entrepreneurial landscape, noting that many aspiring business owners lack access to successful entrepreneurs who can guide them. The APSA Youth Entrepreneurship Fund is designed not only to provide financial support but also to include training and mentorship, recognizing that a holistic approach is essential for fostering sustainable business growth.
With over 4,500 applications already submitted, the fund aims to assist Black-owned businesses at various stages of development, from ideation to scaling. Manchidi stresses the urgency of addressing youth unemployment and the necessity for collaborative efforts to create opportunities for young people. The application process remains open until the end of October, encouraging more entrepreneurs to apply for this initiative that seeks to empower the next generation of business leaders in South Africa.
Show Notes
Ahead of the 31 October closing date, Absa’s Setlogane Manchidi unpacks the bank’s fund which is set to combine grant money with mentorship, business development support and market access to help SMEs build sustainable businesses and create jobs. Moneyweb · Mzansi Business
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