He made the remarks at the Ithubalentsha Micro Enterprise launch at the famous Busy Corner (Buy and Braai) Tembisa.
The gatvol Ngubeni says the cutting of the budget by the treasury was something unexpected since both local and international media made headlines last year during the NYDA event.
“Unfortunately, this would hamper some of the projects already earmarked to develop youths’ programmes across the country but that does not deter us from seeking alternative route of funding. We’re a development institution and our mandate is to develop the youth’s and the unemployed,” says Ngobeni.
“We’re already engaging with other parties on how to formalise funding models.”
Ithubalentsha loosely translated means opportunity for Youth’s in isiZulu.
Its’ aim is to address barriers which often become entry barriers to business or result in a high failure rate among start-up businesses, using a thoroughly-mapped integrated approach that comprises five key pillars, namely identification and technical training, entrepreneurship, training, micro Enterprise finance, business mentorship, business opportunities and market linkages.
He went on to further state that, what the programme aims to achieve is to give young entrepreneurs the exposure that they need to succeed by facilitating access to mentors and business opportunities in both public and private sectors, while also empowering them with the relevant skills and start-up loans ranging from R1, 000 to R100, 000.
According to statistics, an estimated 73% of South Africa’s youth, who make up 42% of the country’s population, must be accessed if the country is to effectively eradicate poverty.
“We believe that the Ithubalentsha Programme will go a long way in creating direct and sustainable employment for young people thereby alleviating the scourge of youth unemployment, which is a major concern to the NYDA,” says Ngubeni.
Deputy Minister of Trade and Industry, Thandi Tobias- Pokolo, said SMMEs should receive priority when coming to issues of awarding business and funding. They’re the ones who create small business establishments in locations with limited resources.
How do we expect them to be economically viable when they cannot access funding or mentorships programmes?” she asked vehemently.
From the department we will strive to help and monitor those whom we have provided funding to meet their obligations, she warned.
Other members who run their successful establishments also lend their support.
