MYF beneficiaries give credit to the municipality and NYDA

JANE FURSE – Beneficiaries of the Makhuduthamaga Youth Fund lauded the municipality and the National Youth Development Agency (NYDA) for the significant support they received through the initiative.

The credits showered in at the background of the awarding of funds to the first 58 beneficiaries of MYF by the municipality, together with the agency on February 20.

Puseletso Ramathabathe, a beneficiary, expressed immense gratitude to the municipality and NYDA, highlighting that their trust in the local businesses and empowering entrepreneurship is truly humbling.

“Your funding is instrumental in propelling our businesses forward, enabling us to create opportunities, stimulate growth and contribute meaningfully to our communities,” expressed Ramathabathe.

She praised the parties for their dedication to fostering a conducive business environment, describing the collaboration as laudable.

Ramathabathe pointed out that the municipality and the agency’s efforts to promote economic development and job creation should not go unnoticed.

She committed to continue working diligently using the funds to drive positive change and make a lasting impact. “We are truly honoured,” said Ramathabathe.

Another beneficiary, Gladwin Nkadimeng, thanked the support of Makhuduthamaga and NYDA, showing that the funding will help them expand their businesses to be able to provide support to others who are stilling starting.

She encouraged the youth to make full use of the opportunities that government offer to empower themselves.

Since its launch in May 2024, the MYF’s steering committee received 119 applications. R2 million was allocated to fund the start-ups and well-established youth-owned businesses within the municipality.

Fifty-eight of the 119 applications were approved with an estimated expenditure of more than R1.4 million.

The recipients include a variety of businesses such as saloons, restaurants, car washes and agricultural projects that applied for Threshold 1 of R1000 to R10 000, and Threshold 2 of R10 000 to R50 000.

It is projected that funding the first cohort of businesses will result in 174 jobs created. Thomas Mashabela, the municipal spokesperson, said the institution will soon announce the second round of the fund’s applications.

He continued, “NYDA has committed an additional R445 000 into the MYF to help fund the second phase intake.”