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UYF's R1bn boost 'blessing for youth'

By unknown | Feb 19, 2009 | COMMENTS [ 0 ]

Penwell Dlamini

Penwell Dlamini

Malose Kekana the CEO of Umsobomvu Youth Fund, is smiling all the way to the bank after Finance Minister Trevor Manuel allocated UYF R1billion in this year's budget.

This is a huge boost for the youth fund after surviving on just R5million in the 2008-2009 financial year.

"We welcome the allocation, which will help us increase the scale of our current programmes to place at least 80000 youth into the National Youth Service programmes," said Kekana, pictured.

He said the UYF was anticipating to extend at least 20 000 micro-finance loans to youth and expose about 20000 youth to business opportunities. These programmes will also see the creation of more than 18 000 jobs.

Since its inception in 2001, UYF has created over 116000 jobs, supported 85000 youth entrepreneurs including advancing R524million loans and investment.

He called on businesses to come on board and help the youth of this country.


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