JA South Africa (Junior Achievement South Africa) is proud of the strategic partnership it shares with Old Mutual Foundation on the Youth Enterprise Development Programme (YEDP).
The programme saw a total of 117 beneficiaries from four of South Africa’s disadvantaged communities – Cato Manor in Kwa-Zulu Natal, Kliptown in Gauteng, Elsies River in the Western Cape and Mdantsane in the Eastern Cape gain the much needed entrepreneurship and employability skills over a 12 month period.
Through this intervention, twenty-five (25) students secured employment while on programme. Forty-six companies were formed from the first two (2) cohorts which have since completed the programme, creating self-employment opportunities and employability for members of their communities. Thirty four of these companies continue to thrive. With Fifty-five percent (55%) of the programme participants being able to secure funding for their existing business and raise capital to kick-start a business. Five such beneficiaries were from Kliptown in Gauteng, they received micro-enterprise finance to the total value of R653 000 from the Old Mutual Enterprise Development Fund.
The programme participants also attended the much needed financial literacy session facilitated by Old Mutual volunteers. An assessment of this cohort, conducted in partnership with Poverty Stoplight further confirmed that these YEDP graduates were now in a position to effectively use the skills they obtained from the programmes to manage their finances – received through salary and business profits. This entails tracking and managing the income and expenditure effectively, ensuring that there is surplus to contribute towards personal and business development.