South Africa launches a 25 billion rand fund to boost youth employment.

The South African government officially launched the National Youth Fund with a total of 2.5 billion rand on October 31st, aiming to address the high youth unemployment rate by providing loans and equity investment to support the development of small and medium enterprises. South African Deputy President Mabuza attended the Youth Investment Forum organized by the National Youth Development Agency on that day. He stated that the National Youth Fund will help young people overcome financing, skills, and market access barriers, alleviate structural unemployment, and redress historical inequalities; encourage private sector investment in towns and rural areas, establish industrial centers, create jobs, and revitalize local economies.