YDF FUNDING SET FOR INCREASE

Article By: Sekhona Muchado

The Ministry of Youth and Gender Affairs is set to increase the Youth Development Fund to match today’s startup costs and boost youth entrepreneurship.

Addressing a Kgotla meeting in Mochudi, Minister Lesego Chombo said the current funding caps of P100,000 for individuals and P450,000 for groups are outdated and no longer reflect the true cost of starting a business.

Chombo said the new funding model will assess businesses based on their type and needs to avoid underfunding or overfunding.

Since 2009, the fund has disbursed over P1.1 billion, supporting nearly 11,500 enterprises and creating more than 21,000 jobs.