Youth and women-owned businesses receive funding
Beneficiaries were encouraged to use the funding purposefully.
Women and youth in business in Ray Nkonyeni Municipality (RNM) were handed funds, to assist them in starting and developing their businesses.
The beneficiaries had been given an opportunity to request funding assistance, and the applicants who met the requirements were selected.
The women-owned businesses received a maximum of R30 000 each, while youth-owned businesses received a maximum of R50 000 each.
RNM’s acting HOD for Strategic Planning and Governance, Simon April said overall R550 000 was allocated to women in business and R950 000 for youth-owned businesses.
April said it was not a big amount, however, due to budgetary constraints this was the amount the municipality could afford in the current financial year.
“We do have other funding opportunities for small businesses within RNM’s Local Economic Development office, however, we do want to stress the importance of giving equal opportunities. We encourage those who did not benefit this time around to apply, so that they can also develop their businesses and create job opportunities for others.” April emphasised.
The deputy mayor, Cllr Sbusiso Shange said it was significant that this handover was taking place at the end of Youth Month. “If we take a look at how women are doing economically, figures are evident that they are still considered as people who were meant to stay at home to look after children and families. It is for this reason as RNM we see a need to assist women who are trying to make a living by opening small businesses in their communities,” said Shange.
He encouraged all the beneficiaries of the programme to ensure that they use the funding purposefully and to always understand the terms and conditions of the forms they sign when applying for such opportunities. “In a case where we find that a person who received funding is misusing the funds, we will make sure that they pay back the money,” Shange warned.
The beneficiaries thanked the municipality for granting them such an opportunity and promised to use the funds purposefully.
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