Absa Opens Applications for R12 Million Fund Targeting Young Black Entrepreneurs
Absa Opens Applications for R12 Million Fund Targeting Young Black Entrepreneurs. Absa has opened applications for its R12 million Youth Entrepreneurship Fund, which will provide grant funding and business support to Black-owned businesses led by South African entrepreneurs aged between 18 and 35.
Applications for the fund will close on 31 October 2026. The initiative is supported by the Absa CSI Trust and will be delivered in partnership with the Tshiamo Foundation.
The fund is designed to support businesses at different stages of development, ranging from early-stage ideas to established enterprises preparing to grow and scale.
Successful applicants will receive more than financial support. The programme includes mentorship, business development and leadership support, market access opportunities and connections to wider entrepreneurship networks.
According to Absa, the initiative was developed in response to feedback from young entrepreneurs who participated in its Absa Youth Entrepreneurship Dialogue. Participants identified access to finance, markets, mentorship and broader ecosystem support as key challenges affecting entrepreneurial success.
Setlogane Manchidi, managing executive for corporate citizenship at Absa Group, said the fund was designed in direct response to the issues raised by young entrepreneurs.
The funding will be provided through grants rather than conventional lending. Developmental support will also be available to help participating businesses strengthen their operations and sustainability.
The programme will introduce a voluntary pay-it-forward model, allowing successful entrepreneurs to share their knowledge, skills and experience with future generations of business owners.
Shiluba Mawela, director of the Tshiamo Foundation, said the partnership would combine funding with practical business support and access to networks.
The fund’s launch comes against the backdrop of youth unemployment in South Africa, which Absa identified as a constraint on economic participation.
The initiative is intended to support young entrepreneurs as they build businesses and create jobs.
Eligible entrepreneurs have until 31 October 2026 to submit their applications. The fund is specifically targeted at Black-owned businesses led by South African entrepreneurs between 18 and 35 years old.
Applicants can access the application process through Absa’s Youth Entrepreneurship Fund platform.
