Youth & Women-Owned Businesses
The Motsepe Foundation has created a fund that will invest in women and youth-owned businesses, extending interest-free loans, mentorship and technical support to encourage a strong culture of entrepreneurship amongst our people.
The Motsepe Foundation recently announced a partnership with the Schwab Foundation on a social entrepreneurship program. This initiative currently has 320 late-stage entrepreneurs operating in 70 countries worldwide touching the lives of some 40 million people.
Africa is a youthful continent that is plagued by a high unemployment rate, particularly amongst Millennials. This is owing to poor access to education, and a surplus of graduates entering industries that cannot afford to absorb them. This leaves millions of Millennials, both skilled and unskilled, forced to adopt to a world of increasing challenges.
Entrepreneurship has long proven to be the best alternative to bettering one’s life. Building a business that not only progresses the entrepreneur, but also the community that the business operates in, is the greatest solution to reducing unemployment in any economy. The Motsepe Foundation strives to support these youth-owned businesses in helping them become profitable and sustainable.
On the African continent women, who constitute 50% of the population, are disproportionately affected by poverty. Women are often the pillar of their communities and they support members of their families through their own small businesses. Arming women with the skills and opportunities to further their communities is paramount to helping them lift themselves out of the disproportionate challenges that they face.
It is the Motsepe Foundation’s aim to help women run their businesses more sustainably, so that they can scale their own enterprises, grow them into more mainstream companies, and by extension, improve their communities’ wellbeing.