Youth fund boosts new year

The Umsobomvu Youth Fund says it intends to assist small, medium and micro enterprises.

In response to the global credit crisis the fund has decided to cut its base interest rate by 2,5percent from January 1.

Malose Kekana, chief executive of Umsobomvu Youth Fund, said: "A reduction in the base interest rate to 13 percent will improve profitability and solvency." - Kea' Modimoeng