2 days ago
South Africa: Mr Price Foundation launches $169mln fund for young entrepreneurs
Mr Price Foundation has launched the Bindzu Youth Fund, a national initiative offering youth-owned businesses the chance to access a share of R3m in grant funding, along with coaching and growth support.
Applications for the programme are now open. The fund aims to help young entrepreneurs scale their businesses through a combination of financial support, capacity development, and mentorship.
Targeted support and funding
- Tailored business development support
- Technical assistance
- Online and in-person bootcamp training
- Expert mentorship and coaching
- Opportunity to pitch for additional seed capital
- Access to post-investment support
Businesses will go through a rigorous multiphase selection process. Finalists will receive grant funding and have the opportunity to pitch for additional seed capital and access post-investment support.
Eligibility criteria
To qualify, businesses must meet the following criteria:
- At least 51% youth-owned (ages 18-34)
- At least 51% Black-owned (as defined by the Broad-Based Black Economic Empowerment Act)
- Operational for at least 12 months
- Based anywhere in South Africa
- Annual turnover of less than R5m
- Demonstrated growth potential
Focus on scaling and sustainability
South Africa's micro, small, and medium enterprises (MSMEs) contribute roughly 40% of GDP and employ more than 60% of the workforce. The Bindzu Youth Fund is intended to support these businesses as catalysts for economic growth.
The Foundation says the fund is designed to strengthen business models, improve leadership, and enable sustainable scaling.
