June 2024
Young African Entrepreneurs Institute (YAEI) launched the YAEI x Absa Youth Entrepreneurship Development Programme and hosted the Emerging30 Innovators Day on International MSME Day
In celebrating Youth Month and International MSME Day, the Young African Entrepreneurs Institute (YAEI) launched the YAEI x Absa Youth Entrepreneurship Development Programme as well as hosted the Emerging30 Innovators on Thursday, the 27th of June 2024. The YAEI x Absa Youth Entrepreneurship Development Programme will start with the Youth Entrepreneurship Tour (featuring the Youth Innovation Challenge) followed by the Youth Entrepreneurship Skills Programme, closing with the Youth Entrepreneurship Week in November. The 2024 implementation consists of scaled efforts aligning to Absa’s Corporate Citizenship strategy of Financial Inclusion through Entrepreneurship which pathways youth into entrepreneurial action. The collaboration between Absa and YAEI serves as a valuable opportunity for Absa to contribute to the broader efforts aimed at promoting entrepreneurial action in South Africa.
“As a banking group with an ambition to be an active force for good in everything that we do, we embrace our responsibility to invest in the future of this country through pathwaying young people to entrepreneurial action,” says Dr Steven Zwane, Managing Executive for Absa Corporate Citizenship. “With initiatives such as these, we aim to create a tapestry of shared value, where every story is nurtured, profiled, and celebrated. We believe that by fostering a culture of youth entrepreneurship, we’re not just extending opportunities; we’re co-creating legacies and catalysing transformations.”
“Since its inception, YAEI continues to play a pivotal role in advancing youth entrepreneurship development in Africa. Strategic partnerships such as this are instrumental to achieving the desired impact both in the short term and long term. I will take this moment to express gratitude to all other partners committed to this project such as W&RSeta, universities, TVET Colleges, and those that are yet to commit, ha khensa, thank you.” Risuna Maluleke, CEO Young African Entrepreneurs Institute (YAEI)
Youth Entrepreneurship Tour (YET)
YET aims to identify and develop high-impact entrepreneurial youth and harness innovation across South Africa. To ensure its effectiveness, post the YET, YAEI will enrol 300 entrepreneurs in the Youth Entrepreneurship Skills Programme, to be implemented by the Entrepreneurship Skills and Research Centre (ESRC). YET will also showcase youth-owned ventures by providing a platform for young entrepreneurs to share their entrepreneurial journeys through the Proudly African Youth Podcast.
Finally, the Youth Innovation Challenge will identify 30 high-potential, Afrocentric, technology-driven youth innovative solutions for the 12-month Emerging30 Innovators Enterprise Development Programme. YAEI will also select 100 youth-led ventures in manufacturing, wholesale, and retail for the 12-month Proudly African Youth Enterprise Programme. Key elements of support in both the Emerging30 and PAYE Programmes include access to funding, market-entry, skills development, and advisory services/coaching.
Youth Entrepreneurship Week
In celebrating Global Entrepreneurship Week, the Youth Entrepreneurship Week is a platform that advances youth entrepreneurship development with various activities that seek to enable the youth to start and grow their businesses. YEW features the Youth Entrepreneurship Skills Programme, Youth Innovation Challenge finals, Emerging30 and Proudly African Youth Enterprise Awards. YEW closes with a symposium and Proudly African Youth Market Fest.
MEDIA ENQUIRIES CAN BE DIRECTED TO:
Zenaye Skosana, Manager: Events, Marketing and Communications zenaye@entrepreneursinstitute.org.za / 071 338 139
