MEC for Provincial Treasury Seaparo Sekoati, speaking on behalf of Premier Stanley Mathabatha.
The Limpopo Provincial Government, through the Office of the Premier, last unveiled a R10 million youth development fund in Polokwane.
In his recent State of the Province Address Premier Stanley Mathabatha made a pronouncement that the provincial government, in partnership with the National Youth Development Agency, set aside no less than R10 million, to support established and aspiring youth entrepreneurs in the province.
Mathabatha had further invited young people to apply in their numbers and take advantage of the opportunity so that they become meaningful role players in the mainstream economy in future.
The provincial launch of the Youth Development Fund is a sequel of its district launches to canvas inputs from their levels.
The fund is held by the NYDA and will be used moving into the next financial year.
Speaking on behalf of Premier Mathabatha, MEC for Provincial Treasury Seaparo Sekoati said, “Through this historic initiative, we aim to assist the youth to access finances to support their businesses. We also yearn to see young people generating innovative ideas and entrepreneurial ventures in the development of the economy as well as creating jobs.
Sekoati further said, despite the adverse macroeconomic pressures, Limpopo has created 133 000 jobs in the last quarter of 2022. For this achievement, the province is counted amongst the top five provinces that recorded the largest increases in employment.
The total number of employed persons in the province is now at one million three hundred and thirty seven thousand, compared to one million one hundred and eighty-four thousand in the last quarter of 2021.
He also made a call to youth to develop interest towards the catalytic projects, the Musina-Makhado and Fetakgomo-Tubatse Special Economic Zones.
Sekoati said, the fund is also tailor made to effectively transition young people into the mainstream economy, through business funding and entrepreneurship support.
“We are aiming at significantly capitalising youth entities to grow and contribute to the provincial economy and reduce the high rate of unemployment,” Sekoati said.
The launch was also attended by mayors, MECs and youth organisations in the province.
