PEPFAR DREAMS and Taiwan ICDF Launch Micro-Financing Initiative for Young Eswatini Women Entrepreneurs

In an inspiring development for economic empowerment in Eswatini, the US Embassy announced the successful launch of a novel partnership between the PEPFAR DREAMS initiative, implemented through USAID, and the Technical Mission of the Republic of China (Taiwan) through the ICDF Micro-Financing project. This collaboration aims to bolster economic opportunities for 40 exceptional young women in Eswatini, fostering entrepreneurship and sustainable development.

The partnership kicked off with a comprehensive training program executed by the Small Enterprises Development Company (SEDCO), equipping these young entrepreneurs with essential business and mentoring skills. Each participant, selected by USAID’s implementing partner Young Heroes, is tasked with mentoring at least one beneficiary, ensuring a sustainable transfer of skills and creating a multiplier effect of empowerment throughout their communities.

One of the pivotal features of this initiative is the opportunity for these young businesswomen to secure small business loans of up to E25,000 through the newly established Taiwan ICDF Micro Loan Revolving Fund, named Kuyenteka. This fund is designed to provide critical financial support, enabling these women to start or expand their own businesses.

Chris Detwiler, USAID Country Director, highlighted the collaborative nature of this initiative at the launch, stating, “In addition to collaborating as development partners, this initiative demonstrates our commitment to contributing to Emaswati leading healthy and prosperous lives. It also signifies our commitment to supporting the Eswatini government and its citizens in addressing some of the complex challenges they battle with such as youth unemployment. You win with teams, we cannot all do it alone.”

This significant partnership marks a major step forward in USAID Southern Africa’s mission to amplify economic opportunities for adolescent girls and young women by forging new alliances across private and public sectors. It is a beacon of hope for many young women in Eswatini, offering them the tools and resources necessary to succeed in the challenging world of entrepreneurship.