Hon. Minister opens week-long training for YERF loan recipients’

01 April 2019

The Honourable Minister of Sports Culture and Youth Affairs Harries Bulunga today officially opened a week-long training for the first recipients of the Youth Enterprise Revolving Fund loans.

The training, which will be conducted by the Small Enterprises Development Company (SEDCO) at their offices in Manzini, follows the selection of the 49 recipients who were announced last month.

Of those 49, only 34 will undergo this week’s training as the other 15 have been found to have been adequately trained by other reputable organisations including the University of Eswatini (UNESWA), SEDCO, Junior Achievement and Enactus.

Making his remarks during the ceremony, the Honourable Minister said the training marked an important milestone in the history of the fund.

“The moment I heard about this event I immediately decided that I could not miss it for anything as it marks a very important milestone in the chapter of the Youth Fund and the Ministry of Sport, Culture and Youth Affairs. The problems that faced our Fund previously have been well documented and today is a big day highlighting our strong commitment to completely burying and avoiding the mistakes of the past. This week’s training is very important as it will capacitate our Young Entrepreneurs to run sustainable businesses,” Bulunga said.

Meanwhile, YERF CEO Bhekizwe Maziya revealed that the beneficiaries would be covered by credit life insurance.

“Hon. Minister, we are happy to report that the Fund has secured Credit Life insurance for the beneficiaries. This insurance will ensure that if a loan recipient passes away while indebted to the Fund, the family will not remain with a burden of the loan nor the Fund remain with a bad debt. The loan balance will be cleared through the insurance,” Maziya said.

01 April 2019 also marks the opening date for the second batch loan applications which will close on 31 May 2019.