NYDA: Young People Create Thousands Of Jobs

Young people are doing their bit to make things better for themselves with the National Youth Development Agency (NYDA) announcing that it created and sustained thousands of jobs.

“Youth-owned enterprises supported through the Youth Micro Enterprise Relief Fund and the NYDA Grant Funding program have collectively created and sustained 8 600 jobs in the economy,” says the NYDA in its Annual Report for 2020/2021.

“More than 6 000 young people were placed in jobs through the NYDA JOBS program.” 

The NYDA said it had achieved a seventh consecutive clean audit outcome from the Auditor General of South Africa, adding it was “pleased to have tabled” its annual report showing a 96% performance achievement against approved key indicators.

The report says the period under review was defined by the Covid-19 pandemic, which saw the NYDA revenue plunge by R145 million due to budget adjustments. 

“Young people disproportionately bear the pain of these economic and social challenges,” said the report, which notes that youth unemployment remains one of the foremost challenges facing South Africa. 

Despite the budget cuts, the NYDA grant program grew from R42 million to R60 million.  

“This is indicative of young people who are keen to make their mark through entrepreneurship,” said the NYDA.

The report said the NYDA was agile when responding to the challenges imposed by budget cuts and the pandemic. It managed to achieve 23 of its 24 targets for the financial year. 

In doing so, the Youth Micro Enterprise Relief Fund supported 1 200 micro youth-owned enterprises with grant funding during the pandemic. 

The Youth Micro Enterprise Relief Fund was developed and implemented at scale during the pandemic to keep youth-owned enterprises alive and to protect jobs in these enterprises.

More than 1 100 youth-owned enterprises in the township and rural economy were provided with grant funding to start up their businesses through the NYDA Grant Program.

The “1 000 businesses in 100 days” campaign – announced during the State of the Nation 2020 – was completed on 12 August 2020, International Youth Day.

Coordination support was provided to the development of the National Youth Policy 2030 and submission of the Integrated Youth Development Strategy.

The report said R88 million “in additional value of funds” was sourced from the public and private sectors.

There was no irregular or fruitless and wasteful expenditure during the 2020/2021 financial year, reports the NYDA.

“This reaffirms the NYDA commitment to clean and good governance,” said the report.

The NYDA said it remains fully committed to the Presidential Youth Employment Intervention announced in SONA 2020 and which now forms part of the Economic Recovery and Reconstruction Plan to meaningfully address the youth unemployment challenge.

“Equally the NYDA continues to work to coordinate the goals of the National Youth Policy 2030 to achieve access and socio-economic development for young people. 

“With a recovering and growing revenue base, strong partnerships model and supportive structures within and outside of government, the NYDA remains resolute in tackling the challenges in youth development.”

The NYDA Annual Report is available for download at: https://bit.ly/3jwjQ5q