South Africa: Free State Economic, Small Business Development, Tourism and Environmental Affairs accelerates youth economic emancipation for sustainable future

The growth of the economy is dependent on a robust and thriving SMME ecosystem. Therefore, the government is of the view that supporting SMMEs in sectors such as manufacturing, agro-processing, tourism, finance, and logistics, as well as construction, will create much-needed jobs in the province.

As part of achieving this goal, DESTEA MEC Thabo Meeko will host the Provincial Youth Business Pitching competition on 15 February 2024 at 10h00, PACOFS. The pitching competition is aimed at unearthing innovative business ideas from youth entrepreneurs and providing comprehensive support for the sustainable growth of such ideas.

To this end, the Youth Business Pitching programme has been rolled out across all four districts, and Mangaung Metro, where each district winner scooped the first price of R200 000, followed by the second price of R120 000 towards their businesses.

Those who emerged as district winners will be presenting their ground-breaking business ideas at the provincial level to a highly experienced and competent panel of adjudicators.

The provincial winner will scoop business funding and non-financial support worth R500,000.

The Youth Business Pitching initiative affords young entrepreneurs to pitch their business ideas to potential investors and funders for exploring business opportunities, technical advice, and support.

MEC Meeko explained that entrepreneurship drives economic growth, job creation, poverty alleviation, and reduction of inequality.

Distributed by APO Group on behalf of South Africa: Free State Economic, Small Business Development, Tourism and Environmental Affairs.