By EPN Reporter
MBABANE-There are quick profits to be made from the piggery business for the youth.
This was said by Youth Enterprise Revolving Fund (YERF) Chief Executive Officer Mandla Nkambule last week Thursday during the meet-and-greet session with the EPN staff members at the YERF offices in Mbabane.
Nkambule said the piggery business was one that could bring quick profits because there was a huge market for piggery products in and outside the country. Nkambule said he once looked for piggery products and he encountered a lot of difficulties because he had to go all the way to find such products around Hlatikhulu, having travelled from Mbabane.
According to Nkambule, this business did not need huge start-up financial capital and that could make it easy for the youth to venture into such a business. He said his organization, YERF, was always available to help the youth venture into this business. Nkambule said their services included funding, training, mentorship and coaching, and market access and linkages.
He said YERF was established under Legal Notice No. 179 of 2009 as Youth Enterprise Revolving Fund Regulations, 2009 (under Section 12) to alleviate unemployment of the youth between the ages of 18 to 35 years, by providing seed capital to start sustainable businesses. According to Nkambule, the mandate of his organisation is to promote youth unemployment and alleviate poverty among young people.
Another mandate of YERF is to provide loan funding to youth aged 18 to 35 to start businesses and to build capacity for youth-owned enterprises through mentorship and coaching. According to the CEO, YERF sees itself as a leading innovative economically empowering financial institution for the youth in Eswatini.
The mission of the organisation is to provide development finance and support to Eswatini’s youth, thus fostering their inclusive, accessible, and sustainable entrepreneurship development. The money that can be accessed through this fund is up to E150 000 and can only be given provided the applicant has a viable business plan, as this is a loan that is supposed to be paid back.
