BY SETHABILE MYENI
MBABANE – Three budding JA Eswatini entrepreneurs have been given financial assistance by Old Mutual Eswatini at no interest payable over 12 months.
The businesses that are to receive the funds are AgriBiz Tech, Bayandza Chickens and Kev’s Precision. These businesses were selected from the young entrepreneurs who made their business plan presentations at Old Mutual offices on the 2nd of November 2023 where they shared their dreams and how they envisage taking their businesses to the next level.
During the presentation, JA Eswatini Executive Director, Phetsile Masilela, said they seek to promote self-employment among the youth of Eswatini. “The youth will be able to provide basic needs for their families and become social entrepreneurs hence we assist youth led businesses,” she said.
It is said these entrepreneurs are part of the JA Alumni and their business presentations before the panel with Old Mutual officials were mostly about details of what they would with the financial assistance once given.
Old Mutual Chief Executive Officer, Muzi Bell, congratulated the entrepreneurs that were awarded and also challenging them to make the partnership work as they will be used as proxy for this project. This means that its success and failure lied entirely on their performance. He also encouraged the youth to approach Old Mutual for refinancing where need arises.
JA Eswatini Head of Operations, Sabelo Dlamini, applauded Old Mutual for removing the financial barrier that most youth businesses often have.”In this partnership JA will ensure to provide mentorship and coaching so the financial support provided is escalated to other youth businesses in future,” he said.
Old Mutual Customer and Marketing Specialist, Nokwanda Dlamini, confirmed the financial assistance and business mentorship to the tune of E100 000.
