The Minister of Small Business Development, Stella Ndabeni-Abrahams is launching the Youth Challenge Fund (YCF) during Global Entrepreneurship Week (GEW2021).
The YCF is for 15,000 qualifying entrepreneurs. It is a youth start-up support programme intended to stimulate the establishment and growth of youth-owned businesses, promote digital skills, grow the economy and foster job creation.
South Africa 2021 Youth Challenge Fund (YCF) Eligibility criteria
In line with National Youth Policy, the YCF will be providing support to youth start-up businesses/enterprises who meet the following criteria:
- Are between the age of 18 to 35 years.
- Registered with CIPC and be prepared to register with SARS & UIF.
- 100% South African owned.
- Are adequately involved in the day-to-day operation and management of the business with at least one or more of the members being full-time employee of the company, especially the majority shareholder or essential personnel/applicant.
- Prepared to participate in Business Development Support and mentorship (pre and post).
- Commercially viable, sustainable and feasible business idea.
The following transactions will NOT be considered:
- Funding towards a debt owed by the applicant with another lending institution.
- Activities that have already been funded by other government departments or parastatals.
- Government and SOE officials are excluded.
- Fall within the gambling, pyramid sales scheme, loan shark and operates illegal activities etc., as guided by credit policy and grant policies.
- Have a record of fraud and corruption.
- Where the owner/applicant is an un-rehabilitated insolvent.
South Africa 2021 Youth Challenge Fund (YCF) Additional information
- Funding queries can be directed to YCF Hotline on 0860 663 7867/012 748 9600 or email: email@example.comfirstname.lastname@example.org
- Upon receipt of the applications, they will be reviewed and completed applications subjected to due diligence exercises by sefa for consideration.
- Follow-ups will be made with small enterprises whose funding applications are incomplete to submit the outstanding information.
- Small enterprises that require non-financial support are referred to Seda for further handling.