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South Africa: The National Youth Development Agency (NYDA) and Limpopo Sign Cooperatives Memorandum of Understanding (MOU)
Source: www.sanews.gov.za
Source Date: Friday, July 12, 2013
Focus: Institution and HR Management
Country: South Africa
Created: Jul 12, 2013

Morolong said that agricultural cooperatives played a crucial role in economic development, job creation and promoting sustainable livelihoods.

The agency recently announced the R10 million Mabhida Youth Cooperatives Grant Fund that offers grants ranging from R1 000 to R100 000 to youth-owned cooperatives across the country.

With this agreement, the NYDA and LDA will jointly identify Limpopo-based young aspiring and established cooperatives [of young people] between the ages of 18 to 35 years, who require the grant for business start-up or growth.

The grant funding will be complemented by non-financial business support services that include training, mentorship and market linkages, said the agency.

The application process for grants will open officially on 1 August 2013.

“The signing of the MOU could not have come at a better time than now as it is also important to draw young people into farming and retain those who are already in the business.

“I believe that the MOU that has been concluded will later be translated into a project cooperation agreement that will go a long way in capacitating young farmers to participate in the mainstream of our economy. This partnership will help to stimulate a positive environment for organised agriculture and agribusiness through cooperatives in the Limpopo province,” Limpopo Agriculture MEC Jacob Marule said.

The MEC further emphasized that rural economic development and infrastructure were also key to attracting and retaining young people in the farming business.
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