R2bn funds on the cards for youth

The National Youth Development Agency (NYDA) aims to raise R2bn in funds for youth, through a Youth Fund and Skills Fund.

With aims to raise a minimum of R1bn per fund, the Youth Fund would be raised through government and private to pledges, and used to fund youth owned enterprises that need funding outside the NYDA fund threshold. The Skills Fund would be raised through SETA’s and the Department of Labour, it would be utilised for skilling and training of artisans.

Mr Sifiso Mtsweni, NYDA executive chairperson

Mr Sifiso Mtsweni, NYDA executive chairperson outlined the strategic focus and direction of the newly appointed NYDA board, which aims to build on the emerging positive legacy. These include:

It’s all about the youth

Some of the strategies talk to making the agency more youth-centric. These plans include an agency rebrand as well as a revised communication strategy. The agency wants to ensure that the revisions resonate with and represent the youth. In addition, plans will be presented to the youth with the purpose of collaborating and increasing buy-in.

Increase youth access

The NYDA plans to lobby in order to increase contracts awarded to youth in both the private and government sector. They also would like to increase the employment of youth, compelling both private and government sectors to ensure 40% of the workforce are youth graduates, thereby alleviating the growing graduate unemployment crisis.

Mainstream youth development

The agency aims to establish youth development in all sectors of society and align youth development programmes into a cohesive unit. This will allow the NYDA to effectively coordinate all efforts.

Mtsweni also talked to issues facing youth, such as unemployment, with him quoting the unemployment rate from Stats SA being 26.7% for the first quarter of 2016. He noted that this was the highest reading since September 2005. Mtsweni further added that of the high rate of unemployment was predominantly a youth problem, as 65.9% of the unemployed were youth.

He further went on to applaud the agency for its turnaround over recent years. Noting that the institution vastly improved from a place where it was characterised by under performance and irregular expenditures that amounted to millions of rands. The agency has achieved its highest performance ever in its history with consecutive clean audits over the last two years years.

He stated that good governance remains the priority of the new board.