The Mr Price Foundation has launched the Bindzu Youth Fund, offering R3 million in grant funding to support young entrepreneurs in South Africa. The initiative aims to help youth-owned businesses scale their ventures through financial support, capacity development, and mentorship. To qualify for the fund, businesses must be at least 51% youth-owned (ages 18-34), 51% Black-owned, operational for at least 12 months, based in South Africa, have an annual turnover of less than R5 million, and demonstrate growth potential with a focus on scaling and sustainability.
Recipients of the Bindzu Youth Fund will benefit from tailored business development support, technical assistance, online and in-person bootcamp training, expert mentorship and coaching, opportunities to pitch for additional seed capital, and access to post-investment support. Businesses will undergo a rigorous multiphase selection process, with finalists receiving grant funding and the chance to pitch for additional seed capital and post-investment support. Applications for the program are now open and will close on June 30, 2025.
Support for young entrepreneurs
Shortlisted businesses will be contacted for the next stage of the selection process. The Mr Price Foundation emphasizes that the fund is designed to strengthen business models, improve leadership, and enable sustainable scaling, thereby contributing to the overall economic development of South Africa.
According to the Foundation, MSMEs in South Africa contribute roughly 40% of the GDP and employ more than 60% of the workforce. The Bindzu Youth Fund is designed to bolster these businesses and serve as catalysts for economic growth. Young entrepreneurs interested in applying can do so through the Foundation’s official channels.
The initiative is part of the Foundation’s ongoing efforts to support economic growth by fostering the development of micro, small, and medium enterprises (MSMEs) in the country.