The Youth Enterprise Revolving Fund (YERF) has allocated E25 million for the 2026 financial year to be accessed by young people and entrepreneurs through loans.
This was confirmed by YERF Chief Executive Officer Mandla Nkambule during an interview with the Eswatini Television Authority’s (ETVA) Kusile Breakfast Show (KBS) yesterday.
Nkambule said the funds were available for young people with viable business proposals to apply for financing, as part of government’s efforts to support youth-owned enterprises and promote self-employment.
He further noted that the Fund has recorded an increase in applications following the introduction of a digital application system.
“For 2026, we have set aside E25 million specifically for youth and entrepreneurs to apply for loans. This funding is meant to support both start-up businesses and existing enterprises that are looking to grow. Since migrating to digital applications, we have received a significant number of applications from the youth. The system has improved accessibility and allows applicants to submit their documents without having to travel long distances,” said the CEO.
The Fund was established in 2009 by the government under the Ministry of Sports, Culture and Youth Affairs. Its mandate is to provide affordable financial support to young people aged 18 to 35 who are engaged in income-generating projects. The Fund focuses on offering loans without the collateral requirements associated with commercial banks, while also providing business development support.
The YERF provides funding for businesses in sectors such as agriculture, manufacturing, retail, services, and creative industries.
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Loan amounts vary depending on the category of the business, with funding available for start-ups as well as for business expansion. Beneficiaries are also required to undergo basic business training and mentorship as part of the loan process.
Meanwhile, Nkambule said the Fund continues to place emphasis on responsible borrowing and repayment to ensure that the revolving nature of the fund is maintained.
“All applications go through an assessment process to determine whether the business idea is viable. We encourage applicants to ensure that their business plans are clear and realistic. As a revolving fund, repayments are critical. When beneficiaries repay their loans, it allows us to support more young people in the future,” he said.
The Fund has previously acknowledged challenges related to loan repayment and has implemented monitoring and support mechanisms to improve compliance. These include follow-up visits, business mentorship, and ongoing engagement with beneficiaries.
Nkambule added that the 2026 funding allocation forms part of ongoing efforts to strengthen youth participation in economic activity and support entrepreneurship as an alternative source of income.
Applications for YERF funding remain open through the Fund’s digital platforms, with assessments conducted on a rolling basis.
Among those who have applied for funding and are awaiting approval is Thabang Dlamini (28) from Nhlangano, who applied to expand his small-scale poultry project.
“I submitted my application through the online system and I am currently waiting for feedback. The funding will be used to increase production and purchase additional equipment,” said Dlamini.
Another applicant, Zanele Simelane (31) from Mbabane, applied for funding to establish a craft and design business.
“I applied for a loan to start a small studio where I can produce and sell handmade products. The process was straightforward, and I am now waiting for the outcome,” she said.
