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The second phase of the Makhuduthamaga Youth Fund (MYF), in collaboration with the National Youth Development Agency (NYDA), has been introduced.
The municipality made the announcement on Thursday, 9 April, highlighting that the phase is expected to be bigger, bolder and remains set to change more lives.
Thomas Mashabela, Makhuduthamaga Local Municipality spokesperson, said the current cycle will once again open doors for young entrepreneurs across the sub-region following the 2024/2025 funding period.
Over 50 youth-owned businesses were approved for funding in the previous cycle, receiving critical financial support that enabled them to grow in the previous phase.
The businesses included salons, restaurants, car washes and agricultural ventures.
The support initiative was launched in May 2024. One-hundred and ten applications for funding were received at the time.
“The municipality made history as the first in South Africa to establish a youth fund in partnership with NYDA, with both institutions’ contribution amounting to R2 million in the inaugural year of the initiative. The impact has been life-changing for the beneficiaries. The fund has created jobs, restored dignity and reignited hope among young people. Importantly, the programme ensured inclusivity by supporting young people living with disabilities, demonstrating the municipality’s commitment to equal access and non-discrimination,” Mashabela indicated.
Mashabela stated that the municipality and NYDA will contribute R1.5 million each bringing the total investment to R3 million in the second phase.
“This significant increase means more opportunities, more funded businesses and more young people empowered to turn their ideas into sustainable enterprises,” Mashabela expressed.
Mayor Merah Mahlase reaffirmed the municipality’s commitment to unlocking the potential of young people, highlighting the success of the first phase of the funding.
“The second first is bigger because we our vision is bigger. We want to reach more young people, support more dreams and build a stronger local economy driven by the youth entrepreneurship,” Mahlase said.
Young people are encouraged to apply through the NYDA’s ERP portal website.
