Youth Enterprise Revolving Fund - Eswatini

What Youth Enterprise Revolving Fund - Eswatini does

Youth Enterprise Revolving Fund (YERF) is a government parastatal development finance institution established in 2009 under the Ministry of Sports Culture & Youth Affairs of the Kingdom of Eswatini, operating from its headquarters at Lilunga House, Somhlolo Road, Mbabane. Founded pursuant to Legal Notice No.179 of 2009 in fulfillment of a vision articulated by His Majesty King Mswati III, YERF provides development finance, training, and mentorship to youth entrepreneurs aged 18 to 35, addressing Eswatini's 58.2% youth unemployment rate (2023). Its purpose is to foster inclusive economic participation through innovative, accessible, and sustainable entrepreneurship development.

YERF offers four core loan products: the Standard Loan (E5,000-E150,000 across individuals, companies, and cooperatives, with terms of 12-36 months), Order Finance (procurement financing of up to E200,000 at Prime +4% against confirmed purchase orders, with 3-6 month repayment), MTN YERF Khula Natsi (a co-branded micro-loan product with MTN Eswatini, E5,000-E30,000, up to 24 months), and a Loan Increase Product for existing borrowers. The organization operates a direct-to-consumer go-to-market model via an online application portal (yef.co.sz) and in-person regional business clinics across all four regions of Eswatini (Hhohho, Manzini, Shiselweni, Lubombo). Underwriting relies on documented requirements — IDs, business plans, cash flow projections, and trading licenses — with no proprietary technology platform or AI/ML capabilities described.

YERF functions as a revolving fund, recycling interest and principal repayments into new loans. From 2018 through March 2026, the organization approved E27.1 million in loans to 582 businesses (351 male, 237 female beneficiaries), generating revenue through interest on loans and government subvention. Strategic partnerships with the University of Limkokwing, UNESWA, Royal Science and Technology Park, Community Finance International (CFI), MTN Eswatini, and SECDO support pipeline development, mentorship, and capacity building. The organization is led by CEO Mandla A. Nkambule (appointed August 2022) and governed by a Board chaired by Sifiso Dhlamini (inducted March 2023) operating under the corporate strategy 'Digitize, Grow, Sustain, Impact'.

Name

Youth Enterprise Revolving Fund - Eswatini

Legal name

Youth Enterprise Revolving Fund

Website

https://yef.co.sz

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

YERF is a government parastatal development finance institution established in 2009 in Eswatini, providing loans and business support to youth entrepreneurs aged 18-35 across all four regions through Standard, Order Finance, and MTN-branded products.

Ownership category

akta.pro rank

Product category

Development Finance / Microfinance Lending

SIC

Short-Term Business Credit Institutions (6153)

akta.pro industry

PRIMARYFSAKAGAI

SBA/Government-Backed & Development Finance Loans

Financial & Insurance/Lending & Consumer Finance/Small Business & Microenterprise Lending

SECONDARYFSAKAGAB

SME Term Loans & Growth Capital

Financial & Insurance/Lending & Consumer Finance/Small Business & Microenterprise Lending

SECONDARYBPADAOAD

Development Finance & Blended Finance Facilities

Business & Public Services/International Organizations & Development/Donor Coordination, Grantmaking & Development Finance Programs

Keywords

• Microfinance lending
• Youth development finance
• Small business loans
• Revolving fund lending
• Enterprise order finance

Headquarters

HQ city

Mbabane

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales

Revenue model

1. Loan Interest and Fees: YERF generates revenue through interest charged on loans. The Order Finance product charges Prime +4% interest rate. The organization functions as a revolving fund, meaning interest and principal repayments are re-lent to new beneficiaries, sustaining the fund over time. As a parastatal, it also receives government funding/subvention.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Youth Enterprise Revolving Fund (YERF) is a government parastatal development finance institution that provides loans to youth entrepreneurs aged 18–35 in Eswatini through four products: Standard Loans (E5,000–E150,000 for individuals, companies, and cooperatives; 12–36-month terms), Order Finance (up to E200,000 secured against confirmed purchase orders; Prime +4% interest; 3–6 month repayment), MTN YERF Khula Natsi (E5,000–E30,000 micro-loans over up to 24 months), and a Loan Increase Product for existing borrowers. Funds operate as a revolving pool, with repaid principal and interest re-lent to new beneficiaries, and the institution additionally offers mentorship and business development support.

Product overview

Youth Enterprise Revolving Fund (YERF) is a development finance institution offering a portfolio of four lending products targeting youth entrepreneurs aged 18-35 in Eswatini. The core offerings consist of: Standard Loan (general business financing for individuals, companies, and cooperatives), Order Finance (contract-based procurement financing against confirmed orders), MTN YERF Khula Natsi (MTN-partnered micro-lending), and Loan Increase Product (additional funding for existing borrowers). The organization functions as a parastatal under the Ministry of Sports Culture & Youth Affairs, established in 2009, and has disbursed E27.1 million across 582 financed businesses as of March 2026.

Differentiator

Problem solved

Functional benefit

Brands

• MTN YERF Khula Natsi: A loan product specifically designed in partnership with MTN for youth entrepreneurs.
• Standard Loan
• Order Finance

Products and services

• Standard Loan General-purpose business lending product for individuals (E5,000–E50,000), registered companies (E5,000–E100,000), and cooperatives (E5,000–E150,000), with seasonal terms of 12 months, short term of 24 months, and medium term of 36 months; targeted at Eswatini youth entrepreneurs aged 18–35.
• Order Finance Contract-based procurement financing that enables businesses to fulfill confirmed purchase orders, with lending limits of E80,000 (sole traders), E150,000 (companies), and E200,000 (cooperatives); 3–6 month repayment period at Prime +4% interest with the confirmed order as security and zero own contribution required.
• MTN YERF Khula Natsi Co-branded micro-lending product in partnership with MTN Eswatini offering loans from E5,000 to E30,000 payable over a maximum 24-month period for youth entrepreneurs aged 18–35 to start or grow their businesses.
• Loan Increase Product Enhancement product for existing YERF borrowers that allows current loan beneficiaries to request additional funding above their original loan amount, subject to eligibility criteria and repayment history review.

Quantifiable outcome

• E27.1 Million in approved loans from 2018 to March 2026
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• Royal Science and Technology ParkcoreStrategic or Co-development Partner · 20 May 2024YERF and Royal Science and Technology Park signed a Memorandum of Understanding (MoU) on May 20, 2024. The main objective of this partnership is to equip youth entrepreneurs in the technology industry with resources and skills to establish or expand their businesses. This partnership was also a co-organizer of the Umliba Youth Entrepreneurship Conference 2024.
• Pigg's Peak Town CouncilminorStrategic or Co-development Partner · 22 February 2024YERF and Pigg's Peak Town Council signed an MoU to support youth entrepreneurship in the Pigg's Peak area.
• SECDOminorStrategic or Co-development Partner · 22 February 2024YERF and SECDO signed a Mentorship SLA (Service Level Agreement) to provide mentorship support to youth entrepreneurs.
• CFI (Community Finance International)coreStrategic or Co-development Partner · 13 February 2024YERF and CFI partnered to improve finance access for youth entrepreneurs. The partnership focuses on enhancing YERF's capacity to provide development finance and support to young people in Eswatini.
• University of LimkokwingcoreStrategic or Co-development Partner · 26 April 2022YERF signed an MOU with the University of Limkokwing, launched by the Minister of Sports Culture & Youth Affairs. The partnership focuses on training entrepreneurship students to prepare finance-ready business proposals to access funding from YERF. The university also provides mentorship services to funded beneficiaries to ensure their success and sustainability.
• UNESWA (University of Eswatini)coreStrategic or Co-development Partner · 1 September 2021YERF signed a partnership with UNESWA (University of Eswatini) in September 2021. Along with the Limkokwing partnership, this was described as helping to improve training programs at universities to ensure graduates can access funding not only from YERF but from any financial institution.
• FincorpminorOthersFincorp is mentioned in YERF's Privacy Policy as one of the authorized third parties with whom applicant data may be shared for loan processing and verification purposes. This is a data-sharing and processing relationship rather than a strategic development partnership.
• MTN EswatinicoreGTM or Marketing PartnerMTN Eswatini is a key partner, with the co-branded 'MTN YERF Khula Natsi' loan product available through this partnership. MTN's logo is featured prominently among YERF's partners on the website.
• DesireLineminorStrategic or Co-development PartnerYERF and DesireLine partnership mentioned in YERF newsletter/updates as a partnership to support youth entrepreneurs.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Others

• Kiva: Global crowdfunded micro-lending platform enabling individuals to lend to underserved entrepreneurs, including in Africa. Comparable to YERF for its mission of expanding credit access to underbanked micro and small borrowers, though Kiva operates as a marketplace rather than a direct lender.
• Accion: Global non-profit committed to financial inclusion, supporting microfinance and small business finance institutions in emerging markets. Comparable to YERF for its mission of expanding responsible credit access to underserved small entrepreneurs, though Accion operates as a capacity-building and investment partner rather than a direct lender.

Direct peers

• Kenya Youth Enterprise Development Fund: Kenyan state corporation under the Ministry of ICT, Innovation and Youth Affairs providing affordable financing and business development to youth-owned enterprises. Comparable to YERF for its government-mandated youth lending programme and similar target segment of 18-35 year-old entrepreneurs.
• GroFin Africa: Pan-African development finance fund providing growth capital and business support to SMEs across multiple African countries. Comparable to YERF for its SME term lending, mentorship wrap-around services, and focus on underserved entrepreneurs in emerging markets.
• National Youth Development Agency (NYDA): South African government agency with a statutory mandate to support youth entrepreneurship through grants, loans, and non-financial support. Highly comparable to YERF given its government-mandated focus on youth-owned enterprises and similar development finance products.
• Small Enterprise Development Agency (SEDA): South African government agency providing non-financial and capacity-building support to SMEs, with overlapping programmes for micro and small businesses. Comparable to YERF as a state-mandated small enterprise support institution operating in the broader Southern African region.

Broad incumbents

• African Development Bank (AfDB): Continental multilateral development bank with programmes supporting youth entrepreneurship and SME finance. Comparable to YERF for its focus on development outcomes in Africa, though AfDB operates at a vastly larger scale and serves sovereign and institutional clients.
• Development Bank of Southern Africa (DBSA): South African state-owned development finance institution providing infrastructure and enterprise finance across SADC. Comparable to YERF for its development finance mandate and government backing, though it operates at a much larger scale and broader mandate than a youth-focused SME lender.

Regional players

• Citizen Entrepreneurial Development Agency (CEDA): Botswana's state-owned development finance institution providing loans and business support to citizen-owned SMEs. Comparable to YERF for its SME loan products, development mandate, and role as a government-backed alternative to commercial bank lending in the SADC region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCJxvK7Z8G-WpaJXV1dzXYZ
• Facebookfacebook.com/YERFEswatini
• LinkedInlinkedin.com/company/youth-enterprise-revolving-fund-eswatini

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Youth Enterprise Revolving Fund - Eswatini