Young designers showcased their talent during the Absa Youth Month celebration, marking the launch of the Absa Youth Entrepreneurship Fund in Joburg.
NEW fund offers grants, mentorship and business support to help young entrepreneurs create jobs.
Absa is lending young South Africans a helping hand to turn their business dreams into reality.
As Mzansi marked the 50th anniversary of the 1976 Youth Uprising, the bank has launched the Absa Youth Entrepreneurship Fund (AYEF), a grant-funded initiative aimed at helping young entrepreneurs start and grow businesses without the burden of paying back loans.
The fund was unveiled through Absa’s “All in This Youth Month” campaign and is designed to tackle some of the biggest challenges facing young business owners, including a lack of funding, mentorship, business networks, and access to markets.
Unlike traditional funding, the AYEF offers grant funding, meaning successful applicants won’t have to repay the money or give up a share of their businesses.
Fashion designer David Tlale joined Absa executives, partners and young entrepreneurs at the launch of the Absa Youth Entrepreneurship Fund. Photo supplied
A model showcases a creation inspired by the legacy of the 1976 Youth Uprising during the Absa Youth Month event. Photo supplied
Speaking at the launch, Absa Group chief marketing and corporate affairs officer Sydney Mbhele said young people have always played a key role in shaping South Africa’s future.
“South Africa’s youth have always led from the front in shaping our nation’s future. But today, the greatest barrier is not ambition. It’s access.
“With the launch of the Absa Youth Entrepreneurship Fund, we’re planting seeds of change by providing young entrepreneurs with the capital and support they need to build businesses that create jobs and drive inclusive economic growth.
“This is not just about funding, it’s about building an ecosystem where young people can succeed and, in turn, uplift others.”
The bank said the fund is part of its broader commitment to empowering young people and strengthening local economies.
Over the past five years, Absa has invested more than R639 million in community programmes, benefiting about 1,7 million people across the country.
The new programme will support entrepreneurs at different stages of their journey, from those with fresh business ideas to owners looking to grow their existing businesses.
Young talent took centre stage during a fashion showcase held as part of Absa’s Youth Month celebrations. Photo supplied
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Successful participants will receive phased grant funding linked to business milestones, mentorship from experienced business leaders, financial management and governance support, as well as opportunities to access new markets and customers.
The programme will run nationally for more than 12 months and is expected to help young entrepreneurs build sustainable businesses capable of creating jobs in their communities.
The initiative is delivered in partnership with the Tshiamo Foundation and includes a “pay it forward” approach, encouraging beneficiaries to mentor future participants and help grow the next generation of entrepreneurs.
Applications for the Absa Youth Entrepreneurship Fund will open in August 2026, with more information to be shared on Absa’s digital platforms.