I have been advised that:
1. Since its inception in the 2021/22 financial period, the Youth Challenge Fund (YCF) was allocated a budget of:
(a) R296 459 000,
(b) As at 19 February 2024, sefa had disbursed R152 597 678 to 44 Youth-owned businesses under the Youth Challenge Fund.
2. The YCF provides support to youth start-up businesses/enterprises that meet the following criteria:
3. Yes, there has been applications that were declined for funding for youth-owned businesses due to a number of specific reasons listed below:
Letters of decline were sent to the applicants stating the reasons why their applications were declined or could not be processed further with some of the applications advised to contact the Small Enterprise Development Agency (Seda) for business support. The applicants are advised to re-apply once all the issues listed above are sorted. Some of the applications have been reallocated to the Township Rural Economic Programme (TREP) as it was relevant to them.