At Lucha Lunako, we are committed to empowering our youth by providing them with the tools, resources, and opportunities to succeed in both the workforce and the world of entrepreneurship. As part of our ongoing mission to nurture their potential, we are excited to introduce The Youth Have It ™ Fund—an initiative designed to provide targeted financial support and foster growth within our vibrant community.
Everyone who submits a completed application will be contacted once the bursary selection process has been restarted.
Initially, the focus of the fund is on providing bursaries for students in tertiary education, helping them to finish their studies without the burden of financial barriers. These bursaries are just the beginning.
As the fund will expand to include additional streams of support that will empower young people to overcome challenges and unlock new opportunities. In the near future, we plan to establish dedicated funds for financial advocacy to address systemic financial injustices and protect vulnerable consumers, as well as for youth entrepreneurship, providing much-needed funding to help aspiring young entrepreneurs turn their startup ideas into reality.
Over the past years we have run bursary competitions that attract a wide range of candidates from across the country.
- Each applicant must answer a set of key funding and personal development questions in order to qualify for funding. Each beneficiary is carefully vetted and a specified list of supporting documentation is required.
- We support youth who meet one or more of the following criteria:
- Who are at the end of their studies - they are in their last year or have completed their studies
- Who come from lower-income or “missing middle” * households - we prioritise those with less debt, so we can impact more young people
- Who are entrepreneurial - they manage a work & study balance
- Who are community-oriented - they understand the importance of giving back and are engaged
- Whose qualifications are in high demand - to make sure we meet the needs of the market and they have a good chance of getting employment
- We randomly select a winner from the approved candidates, who will receive funding between R25,000 – R50,000 depending on the competition terms.
- We analyse the remaining candidates to see who may meet our funding criteria and be eligible for further funding on merit of the fund, in this instance funding is not limited to R50k.
- We plan on developing an Alumni Network so recipients can connect online and to participate in our Youth Have It ™ Foundational Skills Programmes, as an added support on their professional journey.
(* “missing middle” = those who do not qualify for government-backed financial aid but still struggle to afford university education)
- A wide range of tertiary institutions qualify as long as they are registered with the Department of Higher Education and Training (DHET)
- We offer flexible application windows and fund recipients all year round instead of only at specific times of the year, making it easier for youth to take advantage of this opportunity.
- We allow funders to add their own criteria on top of B-BEEE requirements.
- We have used our analysis of the data received to better understand the unpaid fees landscape and challenges facing young people who are progressing through the tertiary system and will advocate for constructive systemic change.
- Our tried and tested due diligence processes ensure funds are transferred to legitimate recipients.
- The Fund is mandated to pay money directly to Tertiary Institutions and not students in their personal capacity. All payments are preceded by direct contact with the Tertiary Institution itself to confirm all the particulars for payment. After payment a final statement of account must be produced.
- Ancillary student costs are not within the funding mandate at this point.
- An independent auditor audits our competitions as well as our fund processes to ensure that the fund is paying the correct beneficiary and also that the tertiary institution receives the money and releases the degree or allows registration for the next year’s learning to occur. The potential for fraud is dramatically reduced with the continual oversight of the independent auditor as they will assist in identifying phishing scams and other problems.
Hear from our programme partners, ecosystem allies, host sites and other stakeholders whose work has been positively impacted by our programmes and initiatives.