Eswatini Youth Enterprise Revolving Fund (YERF) is a Category A Parastatal that was established by the Government of the Kingdom of Swaziland in 2009 in response to the vision of His Majesty King Mswati III. The company was established through legal notice No.179 of 2009. It is further regulated under the Public Enterprises (Control & Monitoring) Act of 1989.
The Parastatal is under the Ministry of Sports Culture & Youth Affairs. The main purpose of the Fund is to promote youth employment and alleviate poverty among young people between the ages of 18 to 35 years old.
THE MANDATE OF THE YOUTH ENTERPRISE REVOLVING FUND
The mandate of the Youth Enterprise Revolving Fund
To assist Swazi youth to develop themselves economically. The Youth Enterprise Fund therefore seeks to:
- Empower the youth to engage in economic and commercial enterprises.
- Empowering the youth to be self-sustainable.
- Facilitating the provision of skills development for loan recipients.
- Providing capacity development and mentorship to youth owned enterprises
- Providing seed capital to the youth without the need for collateral
- Financing the growth of existing youth enterprises
- Improving linkages for youth enterprises with relevant stakeholders
To be a Leading and Innovative Economically Empowering Financial Institution for the Youth in Eswatini
To Provide Development Finance and Support to Eswatini’s Youth, Thus Fostering Their Inclusive Economic Participation Through Innovative, Accessible, and Sustainable Entrepreneurship Development
The fund management comprises of a multi-sectoral management advisory board at the governance level and the Fund Manager at the executive level. The advisory board reports directly to the Minister of Sports Culture and Youth Affairs as the shareholder representative.