Young technology entrepreneurs in Eswatini are set to benefit from enhanced skills and resources thanks to a newly signed Memorandum of Understanding (MoU) between the Youth Enterprise Revolving Fund (YERF) and the Royal Science and Technology Park (RSTP).
The agreement, signed on Thursday, was praised by YERF CEO Mandla Nkambule, who commended both organizations for their collaborative effort. The partnership is set to enhance youth empowerment by specifically targeting the technology sector.
Nkambule explained that YERF and RSTP have identified key areas for collaboration that will foster synergies, ultimately driving youth technology development and innovation across the country. “We are already collaborating with several RSTP graduates who are working on innovative projects. This partnership will help bridge the gap by providing start-ups with access to funding through YERF,” he said.
RSTP CEO Vumile Dlamini emphasized that His Majesty King Mswati III established RSTP with the youth in mind, envisioning them as pivotal drivers of innovation and technological advancement in Eswatini. He noted that the resources from both organizations would be instrumental in supporting this vision.
“The partnership commits our organizations to work together in nurturing and managing youth-led innovations. Start-ups within the RSTP incubation program will receive assistance in securing funding from YERF, along with training to help them run successful tech companies,” Dlamini explained.
He added that RSTP will continue to provide mentorship to these startups, ensuring their growth and development.
Through this partnership, it is anticipated that young tech entrepreneurs will spearhead industry evolution by introducing disruptive home-grown technologies, redefining business models, and fostering a more dynamic and inclusive tech ecosystem in Eswatini.
