About MTN YERF Khula Natsi

MTN Foundation in collaboration with Youth Enterprise Revolving Fund invites the Youth of Eswatini wishing to grow their businesses to apply for funding under the MTN Youth Fund Khula Natsi project through a short – term loan. We have availed funds to support Youth between the ages of 18–35 Years. The Youth Enterprise Revolving Fund is the implementing partner in this project. This opportunity is available strictly to businesses that are already operating.

Loan Product

This is a facility targeting existing businesses that require funds for expansion or growth. The name “MTN Youth Fund Khula Natsi” implies the businesses will grow under the partnership of the MTN Foundation and Youth Fund. The business loans shall be payable over a maximum period of 24 months.

Lending Limits

Under this program, the minimum loan size shall be E5,000.00 (Five Thousand Emalangeni) while the maximum loan size shall be E30,000.00 (Thirty Thousand Emalangeni).

1Application Process

The applicant fills in the forms providing information which shall among others include:

  • Information about the applicant(s)
  • Form is taken to Umphakatsi or Zone Leader for vetting they append their signature and stamp the form
  • The form is taken for further vetting at Inkhundla through signature and stamp
  • Applicants should ensure that before submission, attachments are included as guided in the requirements checklist found in the last page of the application form.
  • Submit application form and other documents to either; Youth Fund, SNYC offices or local Inkhundla centre.

2Lending Terms
The minimum loan size shall be E5,000.00 (Five Thousand Emalangeni) while the maximum loan size shall be E30,000.00 (Twenty Thousand Emalangeni). The business loans shall be payable over a maximum 24 months’ period.
3Loan Appraisal Process
  • Upon receipt of loan applications, YERF officials will conduct preliminary evaluation of loans (pre-selection).
  • Qualifying applications will be forwarded to Intermediary (IDCE) for loan appraisal.
  • Applications recommended by the Intermediary will be reviewed by an evaluation committee comprising of a representative from YERF & MTN Foundation. A decision shall be taken to either approve or defer the loan.
Opening date for loan applications is from the 1st October and closing date is the 31st October 2022.
4Attachments
  • Certified copy of IDCertified copies of ID (compulsory)
  • Certified copy of certificate of incorporate(companies)
  • Certified copy of form J (companies)
  • Certified copy of Memorandum & Articles of Association (companies)
  • Land right (Chief’s Letter, Title deed, Lease Agreement) (compulsory)
  • Business Plan (with cashflow Projections – 3 years) (compulsory)
  • Market Contracts/Letters of intent/Market Analysis (compulsory)
  • Trading License (compulsory)
  • 3 Quotations of each input or service (compulsory)
  • Proof of availability of technical expertise (CV) (compulsory)
  • Bank Statement / Business Financial Records(compulsory)

APPLICATION FORM

1Download Form Here