Fund gives youth leg up
More than 1135 young people in Mpumalanga have benefited from loans from the provincial Umsobomvu Youth Fund.
Yesterday, the Nelspruit cabinet was told that since 2006, more than R10million in loans had been disbursed and 1703 jobs created.
The report presented by provincial manager Neil Mahlangu also added that over 2000 vouchers of more than R24million benefited 1106 women and 27 people with disabilities. These created 804 jobs.
The vouchers helped the youth access services such as accounting, book -keeping, business plan development and tendering support.
The cabinet also received an update on the work undertaken to establish a new integrated Youth Development Agency signed into law by President Kgalema Motlanthe in January. The agency will be responsible for, among others, involvement of youth in economic activities, policy research, managing the national youth fund and the roll-out of youth advisory and information services.