Umsobomvu Business Plan

Umsobomvu Business Plan-65
The challenge for UYF was how they could create hope without becoming unrealistic.

The challenge for UYF was how they could create hope without becoming unrealistic.UYF could only refer young people to service providers.

Youth Entrepreneurship Mr Kekana explained that the youth entrepreneurship involved enterprise funding, business development services and support for micro finance projects facilitated by UYF.

The UYF contract the implementation of projects to service providers (Organisation Development Providers).

MINUTES Umsobomvu Youth Fund presentation Mr Malose Kekana: Chief Executive Officer (CEO) of Umsobomvu Youth Fund (UYF) touched on the UYF's historical background and the challenges facing the youth of South Africa.

In the presentation Mr Kekana pointed out that their target group was largely the unemployed and they focused on the rural areas.

They did, however, have the right to an audit at any point to verify what the application of the fund, as part of their risk management and monitoring.

Discussion A Member asked if the UYF was not a duplication of the National Youth Commission (NYC) in terms of is functions.He said the second phase involved fostering the necessary integration in the period of the years 2003 - 2005.He explained that UYF would cease to exist if they did not link up with all projects and activities taking place.This was particularly in line with the statistics household survey that reflected a large percentage of the unemployed in South Africa as being the youth.He added that unemployed youth was made up of a majority of Africans, mostly women.Members were concerned that the Fund appeared to concentrate on the development of youth who had completed their tertiary education and then to a lesser extent those who had completed their twelve years of schooling.Another concern was whether there was a duplication of functions between the UYF and the National Youth Commission.He notes that the UYF are bound by the Public Finance Management Act.UYF needed to have creative ideas about how NGOs and CBOs could bolster the project.This did not mean that they would subject themselves to local government and provincial government bureaucracy but UYF could rely on public works, for example, to give them tenders. Mr Kekana said that for UYF to make a meaningful change they needed to talk about bold figures.He felt that the fund would be irrelevant unless it could grow on a larger scale.


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