Umsobomvu Youth Fund Annual Report 2006 - Nyda

Enterprise Finance ProgrammesUYF’s Enterprise Finance vision is to facilitate access to finance for young entrepreneurs in the SMME market.Enterprise financing is executed directly to young, qualifying entrepreneurs through UYF’s self-managed General Fund, or throughintermediary funds such as:• SME Financing with Business Partners (Franchise Fund) and First National Bank (Progress Fund);• Micro Finance Funds with TNT, NICRO, Marang and SEF; and• Co-operative Funds with Marang Financial Services, SACCOL, Land Bank and NCASA.Strategy Impact or targets PerformanceTo deliver finance to SMEs in anintegrated mannerTo streamline and institutionalise MicroFinance Enterprises with a best practicemodelTo develop efficient and effective youthco-operatives capable of enhancing themainstreaming of youth into the overalleconomy• 100 SMEs funded• 1 300 jobs created• 33% represented by women• 200 youth entrepreneurs• Coverage: GP 43%; WC 23%; KZN23%; Others 11%• 2 SPs using Micro Finance Model• 3 SPs reaching 2 000 microentrepreneurs• 3 500 jobs created• 75 youth accessing financing throughSACCOS• 12 SACCOS established• 3 partnership agreements with DFIs• 100 youth receiving co-op support• 649 beneficiaries trained• 10 youth agricultural co-ops• 100 SMEs funded• 1 189 jobs created• 26,32% (weighted average) womenrepresentation• 128 youth entrepreneurs• Coverage: GP 59%; WC 9%; KZN28%; Others 4%• 4 Micro Finance SPs• 6 498 entrepreneurs funded• 8 145 jobs created• In excess of 90% womenrepresentation• 15 SACCOS supported• 136 youth accessing financing• 2 partnerships agreements with DFI’sand 1 with a provinceLeveragingDivision Targets PerformanceContact Information and Counselling• Discounters and Sponsors• Co-funding of YACs• Value from SAY card discounters andsponsors cannot be ascertained• R88,4m co-funding of YACs and YACPointsSkills Development and Transfer • R50m from partners • Plus R50mBusiness Development Services • R6,9m from partners • R6,5mEnterprise Finance • R383m from partners • R261mUmsobomvu Youth Fund 2006 Annual Report7