Absa’s R12 million Youth Entrepreneurship Fund closes to applicants at 23:59 on Saturday 31 October 2026, and late applications are not accepted, according to the fund’s page on Absa’s website. With less than a week to go, Absa’s managing executive for corporate citizenship, Setlogane Manchidi, told Moneyweb’s Mzansi Business Podcast that the bank had already received more than 4 500 applications, and that he expects the total to pass 10 000. The grants are non-repayable and take no equity in the business.
What this means for your business: this is a grant for young, black-owned businesses, not a general business fund, so check the criteria before you spend time on the form. If you employ or mentor young entrepreneurs who fit, the deadline is this Saturday night. If your business is not eligible, the programme is still a useful sign of where corporate funding for early-stage businesses is going: money paired with mentorship, market access and a route into a bank.
Who can apply
Absa says the fund is for South African entrepreneurs aged 18 to 35 who run black-owned businesses, from those with a viable idea or early traction to established young businesses ready to grow. It describes the programme as being for “job creators”: founders building enterprises that employ others. Placement is decided during selection, which considers both the founder’s readiness and how mature the business is. Absa says it will place entrepreneurs into three stages that run at the same time: ideation, start-up and early growth. Its page gives a number only for the ideation stage, 130 entrepreneurs.
What the fund pays, and what comes with it
- Grants, not loans. Absa says the money does not need to be paid back and the fund takes no equity.
- Released in phases. The fund’s FAQ says the financial support comes as conditional grants released in phases against agreed plans, so recipients commit to meeting milestones and giving progress updates.
- Support beyond the cheque. One-on-one founder support, financial management and governance training, leadership and management development, help with the business model, customers and market access, and peer learning with other recipients.
- A route into the bank. The FAQ says graduates are prepared for Absa’s Business Banking, SME Banking and Enterprise Development, and that entrepreneurs who progress are supported into next-stage pathways and development finance channels.
- A voluntary “pay it forward”. Funded entrepreneurs are encouraged to share their experience with future cohorts, for example through mentoring. Absa says this is not a repayment mechanism.
The timeline
Absa announced the fund on 1 October 2026, Bizcommunity reported, and the Daily Sun carried the same details for its readers on 3 October. Manchidi said the fund was designed in direct response to what young entrepreneurs told Absa at its youth entrepreneurship dialogue. The dates are:
- Saturday 31 October 2026: applications close at 23:59.
- November and December 2026: screening, assessment and verification.
- January and February 2027: the cohort is confirmed, with contracting and onboarding.
So the earliest a successful applicant should expect to be contracted is in the new year, and money is released in phases after that. Absa’s CSI Trust funds the programme, and the Tshiamo Foundation, a non-profit appointed by Absa, runs the applications, selection, grants, mentorship and impact measurement. Applications go through the link on Absa’s page, and questions go to the foundation at absayef@tshiamoimpact.com.
How to apply this week
- Check eligibility first: age 18 to 35, South African, black-owned, and a business or a viable idea that will employ people.
- Have your basics ready: a short description of the business, who your customers are, how far along you are, and what the money would be used for. The page does not list required documents, so read the form before you start.
- Apply through the link on Absa’s own page, not through a third party, and be wary of anyone who asks you to pay to apply.
- Submit before Saturday evening. With applications already in the thousands, leaving it to the last hour risks a failed upload.
The odds, and what we could not confirm
Absa’s FAQ calls it a pilot programme, and Manchidi said it may become a blueprint for something bigger. The numbers that decide an applicant’s chances are not published: how many grants will be awarded in total, how large each grant is, and how the R12 million is split across the three stages. We could not confirm any of them, and with more than 4 500 applications already received, competition will be strong. Manchidi said the number of applications showed immense potential, but little opportunity matching it. The eligibility rules and timeline above come from Absa’s own page, so read the form’s eligibility questions before you apply. We have not spoken to Absa or the Tshiamo Foundation.
For other funding that is open now, see our guide to business funding in South Africa this month, our explainer on how to qualify for IDC funding, and our list of government funding programmes for small businesses.
