Umsobomvu Youth Fund Annual Report 2006 - Nyda

chairman’sreportAdv Richard MolokoChairman of the Board of DirectorsAccessing information through the Youth PortalUmsobomvu Youth Fund 2006 Annual Report12The past five years was markedby key milestones in the history ofSouth Africa. The country is movingforward with a positive attitude anddignity as we seek to build a newsociety based on the noble principlesof equality, dignity and democracy.The consolidation of democracy wasmarked by the second democraticelections with President Thabo Mbekielected in his second term. Theincreased participation in the electionsby youth confirmed that the future ofthe country is in good hands.Government has been successful in ensuringmacro-economic stability, improvingtrade regime and taking advantage ofthe country’s natural resources, financialand physical infrastructure. There isan acknowledgement of the limitedcontribution of the SMME sector tothe Gross Domestic Product and thisis a clarion call to action for increasedparticipation and support of black peoplein the formal economy.Umsobomvu Youth Fund is celebrating fiveyears of existence. It is an organisationthat has captured the imagination ofSouth African youth as a developmentagency that assists Government to deliveron youth development.When Umsobomvu was launched, it focused on building sound systems and policies fordelivery purposes. The management team, with the support of the Board, has ensuredthat the organisation is built on sound corporate governance principles.The operational highlights of the past five years include:• The establishment of 118 Youth Advisory Centres (YACs) offering information andsupport to thousands of young people throughout the country.• To date, over 174 000 young people have called youthconnect to access informationin a personal and interactive manner.• Since the launch of the youthportal (website) in May 2004, 4 079 332 young peoplehave visited the site.• 45 000 jobs created since inception.• Since the inception of the Enterprise Finance Unit in 2003, 8 800 businesses havebeen financed.• UYF allocated R340 million for on-lending purposes and leveraged an additional R270million from third parties.• Through Business Development Support programmes, UYF has assisted young SouthAfricans through the following interventions:– Issued Business Development Support Vouchers to 11 000 youth– Assisted 9 515 young people with business support and mentorship– Helped young people secure tenders to the value of R82 456 588– Facilitated the establishment of 4 192 youth-owned small enterprises– Helped young people raise capital to the value of R95 207 823 from financialintermediaries for business start-up and expansion• Through Skills Development and Training interventions:– National Youth Service (NYS)* Out of the 31 registered projects, 16 projects were funded by the UYF to the totalvalue of R97 422 769.* 13 087 young people have served in NYS to acquire accredited skills in construction,health environment and social development, and received certificates ranging fromNQF Level 2 to Level 4.* Resources leveraged to implement NYS projects run over R150 million.* 90% of youth who have completed NYS have accessed livelihood opportunities.