Minister launches MTN Grand Hustler, pledges government support for youth
THE Minister of Commerce, Industry and Trade Mancoba Khumalo unveiled the MTN Grand Hustler initiative during its official launch on Thursday.
The initiative, which is a collaborative effort between the MTN Foundation, Junior Achievement Eswatini, and Destiny Group, seeks to empower young businesspeople by providing them with a platform to showcase their ventures to potential angel investors.
Speaking at the launch ceremony at Royal Villas, Minister Mancoba hailed the MTN Grand Hustler initiative as a pivotal moment in the country’s efforts to foster economic growth and youth empowerment. He expressed gratitude to all stakeholders involved in supporting youth economic initiatives, with special acknowledgment reserved for the MTN Foundation for its generous contribution to the JA Eswatini initiative.
The MTN Foundation has invested E650 000 into the project of which E282 000 of the investment has covered the training of 80 young people in business. And 40 of those were further selected and those are the ones who are going to be pitching their brilliant businesses.
The Minister emphasized the importance of such programs in equipping young entrepreneurs with essential skills and knowledge needed to thrive in the business world. Through initiatives like the JA Out of School Youth Programs, the Minister said that participants have gained valuable insights into business start-ups, received mentorship from seasoned entrepreneurs, and learned the significance of group savings for business sustainability.
Minister Khumalo highlighted the government’s commitment to youth entrepreneurship and expressed the availability of various funds aimed at assisting young people in establishing and growing their businesses. These funds include the Eswatini bank SMME Fund, FINCORP, Credit Guarantee Scheme, and the Youth Enterprise Revolving Fund, all aimed at empowering youth to drive economic development.
Khumalo commended MTN Eswatini for its efforts in pioneering the MTN Grand Hustler initiative, which he believes will broaden opportunities for youth businesses through investments by Angel Investors.
This innovative approach will provide start-up capital to viable youth businesses, fostering their growth and competitiveness in the local market.
Encouraging more youth to engage in entrepreneurship within their communities, the Minister emphasized entrepreneurship as a powerful tool for selfempowerment and wealth creation. He urged young people to seize the available opportunities and utilize the assistance and funds provided to them.
Further, Minister Mancoba Khumalo congratulated all participants of the program for successfully completing the entrepreneurship program tailored for the initiative. He urged them to leverage their newfound skills and knowledge for the growth of their businesses, emphasizing that their success would have a positive impact on the nation as a whole.
The Minister extended his deepest appreciation to all stakeholders involved in youth economic empowerment initiatives, emphasizing the importance of their dedication and support in shaping the future of the country. He called for continued collaboration in fostering an environment conducive to entrepreneurship and unlocking the full potential of the youth.