UNDP announces seed funding to female entrepreneurs following civil unrests

In celebration of International Women’s Day observed on 8 March each year, the United Nations Development Programme (UNDP) in South Africa and the 22 ON SLOANE Start-up Incubation Hub, announced the awarding of US$50,000 (R775,000) seed grant to support 10 female entrepreneurs in Kwa-Zulu Natal and Gauteng provinces.

The entrepreneurs have each received US $5,000 (R77,500) to help rebuild their businesses which were affected by the 2021 civil unrests that took place in the two provinces.

The funding is targeted at women-owned businesses under the UNDP Youth Entrepreneurship Action Hub: Post COVID-19 Early Recovery Project.

UNDP South Africa initiated the Youth Entrepreneurship Action Hub project in 2020 as part of its several projects to advance youth and women empowerment through entrepreneurship capacity development.

Through this initiative, 20 youth start-ups were through a “Challenge Fund” created to support the development of youth entrepreneurship in 2020.

The main objectives of the fund were to boost innovative approaches that create and expand employment by supporting young entrepreneurs at early or pick-up stage.

The 20 black-owned entrepreneurs, 50% of whom were females, were drawn from Information and Communication Technology services, manufacturing, waste management, agro-processing, renewable energy, education, and primary agriculture.

Over a six-month period, the beneficiaries were trained in business development before receiving the seed grant.

This pre-incubation programme included developing business plans that qualify for funding. UNDP runs several other initiatives to support small business development in the country, with flagship projects such the UNDP-Council for Scientific and Industrial Research (CSIR) Television White Space (TVWS), Network Operator Support Programme,

This empowers SMME’s to deliver Wi-Fi hotspots in townships and villages, the UNDP-Branson Centre Food Waste Innovation Challenge, which supports entrepreneurs to come up with ideas on expanding food waste innovative solutions through an intensive market and investor-readiness programme.

Overall, in 2021, UNDP supported 1, 646 entrepreneurs, youth start-ups and small businesses, as well as informal traders in general.