Swazi Observer

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SEDCO, YERF TO LAUNCH ONLINE BUSINESS DIRECTORY

By Bahle Gama | 2020-01-21

In the coming week the Small Enterprises Development Company (SEDCO), in collaboration with the Youth Enterprise Revolving Fund (YERF), will be launching an online business directory for the Fund participants.

Speaking on behalf of SEDCO CEO during the youth fund loan beneficiaries announcement, Samkelo Lushaba said Eswatini youth needed to recognise the importance of innovation.

“Eswatini youth need to take note that innovation and entrepreneurship are important to address major developmental challenges such as inclusion, sustainability and shared prosperity.

“Innovative entrepreneurship spurs productivity and economic dynamism.

“The recipients will be given the opportunity for an online presence. We, therefore, implore the nation to make deliberate and intentional efforts to support the young businesses. We have the confidence in quality and other aspects since we work with them,” he said.

He further disclosed that SEDCO had the pleasure of working with the first cohort of the fund recipients, whereby 43 youth enterprises participated in different sectors such as manufacturing, construction, service, agriculture, wholesale and retail.

“However, the missing link remains the innovation element. As a nation we need to have structures and policies that will encourage innovation, especially in the context of youth entrepreneurship,” he said.

Lushaba added that the first cohort of the fund beneficiaries created 105 jobs with an average cumulative loan portfolio in excess of E2.4 million and a combined cumulative turnover in excess of E4 million over the past six months.

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