By Tandzile Dlamini (Intern)
MBABANE – The Youth Enterprise Revolving Fund (YERF) has reaffirmed its commitment to empowering young entrepreneurs by providing funding, mentorship, and business education aimed at reducing unemployment and boosting Eswatini’s economy.
Speaking on Kusile Breakfast Show on Eswatini TV, YERF CEO Mandla Nkambule highlighted the Fund’s impact between 2024 and 2025, noting growing interest from young people nationwide. “As of June 2025, we have approved 35 businesses worth close to E1 million. Previously, we supported 117 youth-owned businesses worth E5 million,” he said.
Nkambule revealed that in 2024-2025, the Fund received 642 applications seeking nearly E25 million, reflecting the youth’s commitment to entrepreneurship. Business ideas range from engineering and app development to agriculture, retail, and transport.
“We are seeing young people using the skills they gained in universities to solve real-life problems,” Nkambule said. “Some have opened butcheries and shops in rural areas, while others have ventured into innovation and transport.”
He noted a growing youth interest in agriculture. “Before, our youth didn’t want to do these business,but with proper support and technology, they are showing great interest,” he said. Eswatini produces only 20 million cubic litres of milk annually, compared to a demand of 84 million litres, highlighting a major opportunity for youth-led agribusinesses.
YERF to support sustainable business growth has partnered with institutions like Sebenta National Institute, Limkokwing University , and ECOT, and introduced a three-year mentorship programme focused on financial literacy, record-keeping, and management skills. This year, YERF launched the Pre-Entrepreneurship Mindset Development Programme, offering a week-long training before funding is accessed. Monthly business literacy sessions are also ongoing.
YERF’s non-performing loan rate has dropped from 70% to 32%, with most debts linked to COVID-19 disruptions. “If a business failed due to COVID, we suspended interest and we are planning to help them restart. Our goal is to support, not destroy youth businesses,” Nkambule said.
The Fund offers flexible loans, including standard, refinancing, and Khulanatsi options, with no collateral required. Application forms are available in Siswati and English, both in-person and online.
The interest rate is linked to the prime rate (currently 10.25%) plus 2%, making it about 12.25%. Loan repayments, according to Nkambule, are tailored to suit the nature and cash flow of each business. He explained that YERF offers flexible repayment options, monthly, quarterly, or annually depending on when a business generates income. For instance, youth involved in pig farming may repay once or twice a year, while businesses with regular cash flow may pay monthly.Nkambule added that when businesses face challenges, such as delayed payments or cash shortages, they are encouraged to contact the Fund for support.
Nkambule concluded: “In developed countries, billionaires were made because their people were taught. We must do the same if we want to grow.”
(Courtesy Pic)
