Absa Youth Entrepreneurship Fund (AYEF) Launched

By now, it’s previous information that South Africa has a joblessness disaster. Contained inside this bigger disaster, youth employment is of explicit concern. Of the 33,6% of unemployed residents, almost half (47,4%) are youths. The query just isn’t how sustainable jobs will be created however how younger folks will be supported in entrepreneurship.

By serving to younger entrepreneurs construct companies that may survive, these companies can develop and create jobs for others.

Absa has opened purposes for its R12 million Absa Youth Entrepreneurship Fund, geared toward supporting qualifying black entrepreneurs between the ages of 18 and 35. It combines grant funding with mentorship, enterprise improvement assist, management improvement and market-access alternatives.

The AYEF is characterised by three parts:

• The catalytic grant funding that helps youth innovation and entrepreneurship.
• Direct pathways into Absa’s banking ecosystem: AYEF graduates are ready for Absa Business Banking, SME Banking and Enterprise Development.
• The Social Impact Payback idea, the place funded entrepreneurs voluntarily ‘pay it ahead’ by reinvesting their expertise into the ecosystem and making a multiplier impact.

The Absa Youth Entrepreneurship Fund is supported by the Absa CSI Trust and delivered via a partnership with Tshiamo Foundation. Tshiamo Foundation leads the supply, offering entrepreneurs with entry to monetary and non-financial assist all through their enterprise progress journey. This consists of overseeing the applying course of, business owner choice, programme implementation, mentorship, capability-building interventions and ongoing enterprise assist.

Who Can Apply

The programme is geared toward black-owned companies led by entrepreneurs between the ages of 18 and 35 and can assist enterprises throughout totally different phases of improvement, from early ideation via to companies prepared for progress and scale.

Selected entrepreneurs decide to specializing in their enterprise, collaborating actively, assembly agreed milestones, offering progress updates tied to phased grant releases, and participating within the Social Impact Payback.

Eligible entrepreneurs who’re making use of have to complete the submission form.

Applications at the moment are open and shut on 31 October 2026.

The first consumption of cohorts throughout the three phases shall be confirmed, contacted and onboarded throughout January and February 2027.

A Word About the AYEF

“South Africa’s younger folks have the ambition and concepts to construct profitable companies, however many lack entry to the capital, bourses and networks wanted to develop,” stated Setlogane Manchidi, Managing Executive: Corporate Citizenship, Absa Group.

“The fund has been designed in direct response to what younger entrepreneurs informed us. By combining grant funding with mentorship, enterprise improvement assist and market entry, we intention to assist promising enterprises turn out to be sustainable companies and job creators.”

“The fund mirrored Absa’s dedication to investing within the subsequent technology of innovators, employers and entrepreneurs who can contribute to South Africa’s financial progress. Every profitable enterprise begins as an concept. Every job created begins with somebody prepared to take an opportunity on a chance. Through the Absa Youth Entrepreneurship Fund (AYEF), we’re investing within the subsequent technology of innovators, employers and changemakers who will assist drive South Africa’s progress story.”

Shiluba Mawela, Director of Tshiamo Foundation, stated the partnership demonstrates what is feasible when the personal sector and entrepreneurship improvement organisations work collectively to create meaningful pathways for younger folks. We are excited to work alongside a associate that shares our dedication to creating South Africa’s subsequent technology of enterprise leaders.

“Young entrepreneurs want sensible enterprise assist, trusted steerage and entry to networks that may assist unlock progress alternatives. Through this partnership with Absa, Tshiamo Foundation is making a holistic assist ecosystem that helps these enterprises transfer in the direction of sustainable progress.”

The launch of purposes comes at a crucial second for South Africa, the place youth unemployment continues to constrain financial participation and restrict alternatives for a lot of younger folks. By serving to younger South Africans transition from job seekers to job creators, Absa hopes to contribute to a extra inclusive, entrepreneurial and affluent financial system.

Moving Beyond Funding

Currently, there’s a rising development for funders not solely to concentrate on offering monetary assist to companies but additionally to make sure that they’ve constructed capability and are in a position to successfully use the funding.

This is why non-financial support, equivalent to mentoring and management improvement, is an important addition to the AYEF. Additionally, with the addition of the Social Impact Payback, the programme creates mentors who can improve the variety of folks the programme has sooner or later. It additionally signifies that particular companies will be matched with mentors from the identical industries sooner or later.