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This audit pertained to the 2014/15 financial year, spokesperson Nawhal Kara-Foster said in a statement.
“The NYDA accomplished its best ever performance achieving 93% of its targets as approved by Parliament.”
NYDA executive chairperson Yershen Pillay said the agency’s new board, which took office in 2013, promised to clean-up the NYDA and had successfully done so.
According to the NYDA’s annual report, 62 916 aspiring and established young entrepreneurs were supported through the business development support programme, beyond its initial target.
Other highlights from the report included 1 034 youth-owned enterprises receiving grant funding, 300 students registered and studying at higher learning institutions via the Solomon Mahlangu Scholarship Programme, and 937 949 young people were provided with individual and group career guidance.
97% improvement within last year
A total of 4 343 jobs were created and sustained through grant funding, co-operatives and business development services, while 4 248 young people were placed in job opportunities.
The agency reduced its irregular expenditure from R62m in the 2012/13 financial year to R16.7m in 2013/14 financial year, to R580 000 in the 2014/15 financial year.
Agency CEO Khathu Ramukumba said this demonstrated a 97% improvement within the last year alone, with all findings related to expenditure management, consequence management, procurement and contract management no longer appearing in the audit report.
There were now 14 NYDA offices country-wide, and 178 local youth offices in peri-urban and rural areas around South Africa.
A total of 98 access points were established and/or went into operation in the 2014/15 financial year.
Deputy Minister in the Presidency Buti Manamela applauded the achievement, as a clean audit inspired public confidence and changed people’s perceptions about public institutions.
