News agency, Cape Town, South Africa
Sunday September 15th 2019

Education key to business success: NYDA

The NYDA plans to improve quality of education to boost youth employment.

Poor education levels among the youth in the Western Cape are hampering their ability to succeed as entrepreneurs.

While many young people apply to the National Youth Development Agency for start-up finance, they do not know the business venture they wish to explore, says NYDA branch manager Stephen Curry.

Curry says the agency received about 100 applications for business start-up loans every month, but less than 10 percent of them had any value.

He said most of the applicants do not know how much funding their business would require to start up while others wished to enter into a sector they know little to nothing about.

As a result, 90 percent or more of the applicants would have to undergo a three-day entrepreneur programme offered by the agency.

Curry said another challenge was the lack of business information and entrepreneurial role models in townships which could help inspire youngsters to get into business.

He said socio-economic challenges in the townships also affecting the entrepreneurial spirit among the youth.

If, for instance, an entrepreneur borrowed money to start an Information Technology project in the township and his business was razed by fire, it became difficult for them to pay back what they owed.

Education was one of the focuses of the NYDA presentation of its strategic plan for 2012/13 to Parliament’s Standing Committee on Appropriations last month.

NYDA general manager for corporate strategy Tebogo Sejane told the committee that one of their targets this year would be to improve the quality of education attained by the youth.

She said they planned to get 2000 youths to attend their technical skills training programme and a further 12 000 to attend a job preparedness course.

Sejane said they also planned to increase the number of young people enrolled in their matric re-write programme.

She however conceded to the committee that only 1000 of the 2000 students who participated in the NYDA’s matric re-write programme managed to pass their exams.

The NYDA’s strategic plan indicated they planned to spend R30 million in funding young entrepreneurs over the coming financial year. —Francis Hweshe

Tags: Entrepreneurship, NYDA, Stephen Curry, Tebogo Sejane, Western Cape Education

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