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South Africa to start R2.5bn fund to tackle unemployment | SA News

South Africa will on Friday start offering loans from a R2.5 billion ($135 million) Youth Fund aimed at supporting small businesses, part of a push by the government to tackle one of the world’s highest unemployment rates.

Nearly half of South Africans between 15 years to 34 years are unemployed, according to Statistics South Africa. The fund aims to address this by supporting high-potential small and medium enterprises, National Youth Development Agency Deputy Chairperson Bonga Makhanya said in an interview.

The initiative, spearheaded by the NYDA and set to be announced by Deputy President Paul Mashatile, is…

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