Transforming and Growing the Township Community by providing energy solutions to local entrepreneurs.
Nepoworx has joined forces with the Industrial Development Corporation (IDC) to launch an amazing program that tackles two major challenges in South Africa: youth unemployment and energy shortages. This ground-breaking initiative aims to empower small businesses with enterprise development skills and solar energy solutions, setting the stage for expansion and generating sustainable job opportunities for young people.
In the first quarter of 2023, South Africa's youth unemployment rate skyrocketed to a staggering 46.5%, leaving 4.9 million young individuals with bleak prospects for the future. This eye-opening figure emphasizes the critical need for innovative solutions to create employment and uplift communities from poverty. With this partnership, we aim to make a real difference in the lives of people by transforming and growing township communities through empowering local entrepreneurs.
In bridging the gap, We have opened our doors to local business owners eager to power up their businesses. This opportunity will enable small, medium, and micro enterprises (SMMEs) to scale up their businesses and grow the township economy. This is Nepoworx's contribution towards entrepreneurship development!
Partnering with the Industrial Development Corporation (IDC), Nepoworx launched the Township Energy Fund to address some of the pressing challenges of Township businesses. Through this initiative, we want to see sustainable businesses in Townships as they help build communities that are self-sufficient by addressing the unemployment crisis and alleviating poverty. This initiative empowered 43 small businesses with solar energy solutions, assisting them with reducing overheads and thus increasing their chances of being sustainable in the long run.
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