SME's receive R150m boost to hire young people

Jeremy Lang, managing director of Business Partners Limited, which on Wednesday launched a R150 million youth employment project.

As the country’s unemployment figures reach 4.7 million in 2026, an unlisted partly state-owned company, Business Partners Limited, has allocated R150 million to assist small businesses in employing more young people who are currently sitting idle at home.

Around 4.7 million people aged 15 to 34 were unemployed in Q1 2026, according to Statistics South Africa.

Business Partners, the public unlisted company, was formed in 1981 as the Small Business Development Corporation and was rebranded into the current name in the mid-80s.

Through the state-owned Small Enterprise Finance Agency (SEFA), the government holds a 21.6% stake in Business Partners, whose mandate is to support small and medium enterprises (SMEs) through funding.