By Inside Biz
The Eswatini Development Finance Corporation (FINCORP) has contributed E300,000 towards the Junior Achievement Eswatini (JAE) Youth Business Shower.
The contribution was announced by FINCORP Group Managing Director Dumisani Msibi on Tuesday at the Happy Valley Hotel in Ezulwini.
The objectives of the JA Youth Business Shower are to; empower youth in framing and delivering a winning business plan, provide them with the tools to build and engage in impactful projects, provide workable solutions for day-to-day challenges they face in business, and expose them to seed capital funding.
The five-day event is scheduled to take place from June 19-23, 2023. It is targeting at least 500 young people from all four regions of the country. The target, according to JA is to provide seed capital worth about E10,000 to at least 90 youth-owned businesses after a rigorous judging process.
Speaking during the contribution handover, FINCORP Group Managing Director Dumisani Msibi said the company is pleased to announce the sponsorship of E300,000 to support the 2023 Youth Business Shower initiated by JAE.
“We view this as a perfect launchpad to help young people to build, refine, and scale up their businesses by providing them with the essential business skills including business management; mentorship, and networking opportunity, but most importantly stand a chance to win seed capital for their businesses,” he said.
He added that they remain convinced that the youth of the country can rise above the socio-economic challenges that they are currently facing, but they need support, and this platform will certainly address some of their pressing needs.
Msibi said in line with their founding mandate, which is to; ‘economically empower Emaswati through the provision of accessible financial services, FINCORP remains fully committed to unlocking the potential of the country’s youth to fully realize the unique demographic dividend.
“This is the foundational basis of our long-term relationship with JA spanning over 12 years to date. We have been working with Junior Achievement to support the empowerment of youth with practical entrepreneurial skills, sound financial literacy, and innovation. In addition, we are currently very active in the Junior Achievement Eswatini Angel Network Investor programme, aimed at coordinating equity support for young entrepreneurs,” he said.
He further disclosed that the company is also working hard to ensure that all youth is supported to take advantage of available opportunities and is integrated into the mainstream economy.
“We offer various tailor-made products to meet customer requirements to ensure that we provide access to finance and young people are included. One other avenue through which young people can access credit is the Small-Scale Enterprise Loan Guarantee Scheme housed at the Central Bank of Eswatini but accessed through financial institutions and FINCORP is one of them. We must all know that this guarantee scheme is powered by the Government of Eswatini to make funding more accessible for the citizens.”
6 thoughts on “FINCORP CONTRIBUTES E300,000 TO JUNIOR ACHIEVEMENT ESWATINI YOUTH BUSINESS SHOWER”
Comments are closed.