Tshepo 500,000 Programme Now Tshepo One Million

Posted on May 18th, 2017
Biz News

Today's Top Entrepreneurship and Business Stories (18 May)

Gauteng Premier David Makhura announced that the Tshepo 500,000 programme will now be known as Tshepo One Million, as the provincial government has doubled its target set for 2019.

The Premier said this on Wednesday when he addressed a morning meeting on youth empowerment partnerships in Sandton, where more than 20 companies committed to work with the provincial government to give hope to unemployed young people in the province.

Some of the major international and local companies that have committed to work with the provincial government are Microsoft SACoca-ColaHollardGijimaShanduka Black Umbrellas and COFESA.

The partnerships forms part of the efforts between government and the private sector to help create opportunities for youth in the province through the recently renamed Tshepo One Million initiative.

In 2014, the provincial government launched the Tshepo initiative with the intention to empower about 500,000 young people through skills training, job placement and entrepreneurship development.

However, due to the success of the programme so far and the enthusiastic support from the private sector, the target has now been increased to one million.

Premier Makhura encouraged the private sector to work with government to create opportunities for young people and give them hope.

“Youth unemployment is the most acute and primary economic problem of our time. In Gauteng, we currently have about 2.7 million young people of working age, who are not in education and employment.

“Two years after we launched Tshepo 500,000, we reached 354 633 young people. That is when we decided to increase our target to empower one million young people by 2019,” said the Premier.

He said Tshepo One Million is aimed at providing opportunities to youth, especially those in townships who are confronted by lack of skills and limited opportunities. (via Bizcommunity)

The Masisizane Fund To Host Second Stakeholder Workshop In Gauteng

The Masisizane Fund will be hosting the second stakeholder workshop in Gauteng this month.

“We have travelled to all corners of our country and have received very favourable feedback from our stakeholders; and on Wednesday, 17 May 2017, our Gauteng partners in both public and private sector will be meeting to discuss how to strengthen the existing partnerships in the second workshop. These are positive sessions where feedback is given to us, outlining ongoing needs and requirements to bridge any gaps there may be. These sessions are extremely constructive as we all want to achieve the common goal of eradicating poverty through job creation,” says Zizipho Nyanga, CEO of the Masisizane Fund.

Established in 2007, following the closure of the Old Mutual Unclaimed Shares Trust, this non-profit company provides integrated loan financing, business support, and mentorship to high-potential black-owned SMMEs.

Nyanga explains, “In these workshops our partners have an opportunity to share how they can foster functional collaboration efforts by looking at specific projects to partner on and relate their experiences working with the fund. We are excited to say Masisizane is indeed living up to its name and ‘partnering for a brighter tomorrow'”.

As Masisizane Fund approaches its 10th anniversary, Nyanga says that they would like to celebrate the success the fund has enjoyed, and showcase the legacy built over the past decade. “We are also looking forward to a bright future – including more job creation, further boosting economic growth and transformation, and achieving more significant milestones on the journey ahead”.

To boost effectiveness the Fund also runs a roadshow together with an award ceremony, to be held in July, among different South African provinces challenging its SMME partners to excel. Nyanga explains, “It is more than just about being the winner – it is about that small businesses that have contributed the most to the greater good of our country.”

The awards will celebrate SMMEs for excelling in the following categories:

  • Best Female Owned Business Award
  • Best Youth Owned Business Award
  • Best Employer Award
  • Entrepreneur of the Year Award
  • Business of the Year Award

Nyanga concludes, “We are looking forward to a meaningful celebration in July, the month that marks a decade of the fund’s contribution to the economy through significant job creation”.

MTN Faces US $8.5mln Fine Over License Breaches In Rwanda

MTN Rwanda announced on Wednesday that it has received official notification of a U.S $8,5 million fine from the Rwanda Utilities Regulatory Authority (RURA) for non-compliance with licensing obligations.

The fine relates to non-compliance with the directives issued by the regulator prohibiting the inclusion of MTN Rwanda in the MTN South and East Africa (SEA) IT hub based in Uganda.

RURA said MTN breached licensing obligations by hosting its IT services outside the country, in contravention of enforcement notice and directives issued by the regulator.

By doing so, RURA said MTN Rwanda breached its license obligation requiring it to comply with all applicable laws, regulations and any other regulatory instruments issued by the competent authority.

RURA said its regulatory board conducted a hearing session earlier this month and MTN Rwanda admitted the breach.

In a statement on Wednesday, MTN – Rwanda’s biggest telecom by subscription – said it was engaging with regulatory authorities in that country to resolve the matter.

“MTN has been engaging with the regulator on this matter over the past four months. MTN Rwanda is currently studying the official notification and will continue to engage with the regulator on this matter,” MTN said in a statement.

Last year, MTN Nigeria agreed to a reduced $1.67-billion settlement with the Nigerian Communications Commission (NCC) after being fined $5.2-billion for failing to register 5.1 million SIM cards. (via African News Agency)