By now, it is old news that South Africa has a joblessness crisis. Contained within this larger crisis, youth employment is of particular concern. Of the 33,6% of unemployed citizens, nearly half (47,4%) are youths. The question is not how sustainable jobs can be created but how young people can be supported in entrepreneurship.
By helping young entrepreneurs build businesses that can survive, these businesses can grow and create jobs for others.
Absa has opened applications for its R12 million Absa Youth Entrepreneurship Fund, aimed at supporting qualifying black entrepreneurs between the ages of 18 and 35. It combines grant funding with mentorship, business development support, leadership development and market-access opportunities.
The AYEF is characterised by three elements:
- The catalytic grant funding that supports youth innovation and entrepreneurship.
- Direct pathways into Absa’s banking ecosystem: AYEF graduates are prepared for Absa Business Banking, SME Banking and Enterprise Development.
- The Social Impact Payback concept, where funded entrepreneurs voluntarily ‘pay it forward’ by reinvesting their experience into the ecosystem and creating a multiplier effect.
The Absa Youth Entrepreneurship Fund is supported by the Absa CSI Trust and delivered through a partnership with Tshiamo Foundation. Tshiamo Foundation leads the delivery, providing entrepreneurs with access to financial and non-financial support throughout their business growth journey. This includes overseeing the application process, entrepreneur selection, programme implementation, mentorship, capability-building interventions and ongoing business support.
Who Can Apply
The programme is aimed at black-owned businesses led by entrepreneurs between the ages of 18 and 35 and will support enterprises across different stages of development, from early ideation through to businesses ready for growth and scale.
Selected entrepreneurs commit to focusing on their business, participating actively, meeting agreed milestones, providing progress updates tied to phased grant releases, and taking part in the Social Impact Payback.
Eligible entrepreneurs who are applying need to complete the submission form.
Applications are now open and close on 31 October 2026.
The first intake of cohorts across the three stages will be confirmed, contacted and onboarded during January and February 2027.
A Word About the AYEF
“South Africa’s young people have the ambition and ideas to build successful businesses, but many lack access to the capital, markets and networks needed to grow,” said Setlogane Manchidi, Managing Executive: Corporate Citizenship, Absa Group.
“The fund has been designed in direct response to what young entrepreneurs told us. By combining grant funding with mentorship, business development support and market access, we aim to help promising enterprises become sustainable businesses and job creators.”
“The fund reflected Absa’s commitment to investing in the next generation of innovators, employers and entrepreneurs who can contribute to South Africa’s economic growth. Every successful enterprise begins as an idea. Every job created starts with someone willing to take a chance on a possibility. Through the Absa Youth Entrepreneurship Fund (AYEF), we are investing in the next generation of innovators, employers and changemakers who will help drive South Africa’s growth story.”
Shiluba Mawela, Director of Tshiamo Foundation, said the partnership demonstrates what is possible when the private sector and entrepreneurship development organisations work together to create meaningful pathways for young people. We are excited to work alongside a partner that shares our commitment to developing South Africa’s next generation of business leaders.
“Young entrepreneurs need practical business support, trusted guidance and access to networks that can help unlock growth opportunities. Through this partnership with Absa, Tshiamo Foundation is creating a holistic support ecosystem that helps these enterprises move towards sustainable growth.”
The launch of applications comes at a critical moment for South Africa, where youth unemployment continues to constrain economic participation and limit opportunities for many young people. By helping young South Africans transition from job seekers to job creators, Absa hopes to contribute to a more inclusive, entrepreneurial and prosperous economy.
Moving Beyond Funding
Currently, there is a rising trend for funders not only to focus on providing financial support to businesses but also to ensure that they have built capacity and are able to effectively use the funding.
This is why non-financial support, such as mentoring and leadership development, is a crucial addition to the AYEF. Additionally, with the addition of the Social Impact Payback, the programme creates mentors who can increase the number of people the programme has in the future. It also means that specific businesses can be matched with mentors from the same industries in the future.
