By Lwazi Raul-Shongwe
Thirty-one(31) youth-owned tourism enterprises in Mpumalanga will benefit from a R4 million funding awarded through MYTF(Mpumalanga Youth Tourism Fund) following a collaboration between DEDT(Department of Economic Development and Tourism), and NYDA(National Youth Development Agency.
This initiative is reportedly aimed at empowering young entrepreneurs in the tourism sector by providing financial assistance and resources to grow and expand their businesses.
DEDT said the fund provides support in the form of asset-based finance, working capital, acquisition of property, support for intangible assets, and intellectual property development. The partnership between DEDT and NYDA follows the signing of a an agreement for three years, from 2025-2027.
Furthermore, the fund is reportedly designed to effectively transition young people into the mainstream economy through business funding and entrepreneurship support, aimed at unlocking the potential of youth-owned enterprises in the tourism sector to grow and contribute to the provincial economy and reduce the high rate of youth unemployment.
NYDA Executive Chairperson, Dr Sunshine Myende said the entity’s mandate is to advance youth economic participation and empowerment.
“ Partnerships such as this one in Mpumalanga, which establishes a dedicated provincial youth fund, are a powerful model for turning that mandate into a tangible opportunity. Mpumalanga is commended as one of the few provinces to have established such a dedicated youth fund. It is our sincere wish that many other provinces will follow this exemplary lead”, said Dr Myende.
Mpumalanga DEDT MEC, Jesta Sidell, said the MTYF affirms the Department’s unwavering commitment to placing young people at the centre of economic reconstruction, particularly within the tourism sector, which remains a catalytic driver of Mpumalanga’s socio-economic transformation.
“ The Mpumalanga Tourism Youth Fund is a direct response to the structural challenges confronting our provincial economy, especially the stubborn realities of inequality, poverty, and unemployment,” said MEC Sidell.
Post-investment support for the funded businesses will reportedly be delivered through a collaborative approach involving SEFDA(Small Enterprise Financial Development Agency), Standard Bank, and other key stakeholders.
This support will reportedly include but is not limited to financial literacy and compliance training, Business advisory services, mentorship and linkages.
MEC Sidell said this integrated support model is designed to promote business sustainability, stimulate growth, and enhance job creation outcomes.
“ As government, in partnership with the private sector, we have a collective responsibility to provide economic stimulus packages geared towards propelling our youth-owned enterprises to participate meaningfully in the mainstream economy. Accordingly, the MTYF is one catalytic intervention which will serve as a strategic weapon for government in its quest to uproot the stubborn triple challenges of poverty, unemployment and inequality”, MEC Sidell said.
