R2.7-billion youth fund launched

first_img18 August 2014 The National Youth Development Agency, Industrial Development Corporation and Small Enterprise Finance Agency have launched a R2.7-billion Youth Fund aimed at creating millions of sustainable jobs in the country. The launch, which took place at Langa township in Cape Town on Friday, follows the signing last year of the Youth Employment Accord, committing the government and its social partners to prioritising youth employment and skills development. The Small Enterprise Finance Agency (Sefa) has set aside R1.7-billion for the fund, with the Industrial Development Corporation (IDC) contributing the remaining R1-billion. The National Youth Development Agency (NYDA) will screen and recommend young entrepreneurs put forward by the IDC and Sefa. NYDA CEO Khathutshelo Ramukumba, speaking at Friday’s launch, said the fund would help break the chains of poverty by giving young South Africans the chance to participate in the economy. Ramukumba urged young people to aim higher and apply for funding in the productive sector of the economy in order to amass enough wealth to generate large-scale jobs. “We want more young people to enter the space of manufacturing because we want these young people to be the industrialists of tomorrow,” he said. “If you look at the reason why our economy today is not able to provide the necessary jobs that are required to take the majority of our people out of the poverty situation, it is because we have not created new industries in the main.” Sefa CEO Thakhani Makhuvha said that, unlike commercial banks, Sefa agency was a developmental institution that did not require collateral to grant an applicant finance. It offers funding of between R500 to R5-million to proposals that can demonstrate a sustainable business model. Makhuvha said even those who had debt from study loans were welcome to apply for funding, as the agency never shut its doors on high-risk customers. However, applications from those with adverse and reckless credit records would be closely scrutinised. “We can give you a maximum of 12 months to start paying [the loan back]. You don’t have to have collateral, you just have to demonstrate that your business can project sustainability.” Makhuvha said Sefa had studied the models of agencies from other countries that offered development support to small businesses, including Brazil’s successful business agency Sebrae. Recent reports indicate that the small and medium enterprises sector generates over half of all jobs in the country, while also accounting for about 70% of all new jobs. Source: SAnews.gov.zalast_img read more

Netbot, One Of The Great App.net Apps For iOS, Is Now Free

first_imgTapbots announced Wednesday that Netbot, their App.net client for iPhone and iPad, is now free “for an unspecified period of time.”The Tapbots App.net post announcing the Netbot sale says it’s “[I]n order to spur adoption of App.Net.” Netbot was born out of Tapbots’ beloved Twitter client, Tweetbot, and anyone who uses that app will quickly get used to Netbot. For those who haven’t used Tweetbot, just trust that Tapbots is a top-shelf iOS shop and makes apps that feel good and make sense. If you’ve wanted to try out App.net, this is the app with which to do it.In fact, it was when Tapbots announced their App.net client that much of the tech world started to take App.net seriously. App.net is betting that a paid-for social infrastructure will give rise to a vast field of great apps that have sustainable businesses. That plan needs buy-in from big-name developers.When Tapbots joined the service, things got interesting. The app caused a huge spike in attention when it first appeared for $4.99. But App.net’s adoption hasn’t been as swift as the Tapbots duo, programmer Paul Haddad and designer Mark Jardine, had hoped. As Haddad confirmed on Twitter, going free means that Tapbots stands to make more money from the App.net Developer Incentive Program, which doles out over $20,000 per month to ADN developers based on user satisfaction ratings. That must be a better deal than app sales at this point.But App.net announced this week that paid users will now get 10GB of cloud storage behind their accounts, which app developers can put to any use they can dream up. Not only does that mean more powerful applications can be built, it means that now App.net can build the same kind of freemium revenue model as services like Dropbox and Evernote use. If paying for the service gets you the storage space, App.net can give away the Twitter-like messaging features for free.Paid-only adoption of App.net hasn’t lived up to these bigtime developers’ expectations. But if the service becomes free for messaging-only users, that could easily change. jon mitchell The Dos and Don’ts of Brand Awareness Videos Guide to Performing Bulk Email Verification Related Posts center_img Tags:#App.net#Tapbots Facebook is Becoming Less Personal and More Pro… A Comprehensive Guide to a Content Auditlast_img read more