The scholarship programme was unveiled in Randburg Johannesburg, on Tuesday afternoon.
Speaking to SABC Sport, Ledwaba says the initiative seeks to identify and support deserving young athletes, with the ultimate goal of helping them represent South Africa on the international stage.
"It's import to identify and empower the underprivileged children from rural areas and townships, and then to take them to a top performing school in both academics and sports. From there they may go on to represent their country in their different sporting codes. That's our initiative."
Ledwaba further explained that combining education with sport is a cornerstone of the programme. She says the foundation is committed to developing individuals who can become community leaders once their sporting careers come to an end.
Ledwaba also praised the Minister of Sport, Arts and Culture Gayton McKenzie for prioritising the development of school sport across the country, saying the government is aligned with the foundation’s mission to nurture young sporting talent.
"My personal view is that school sport is key for development in the country, because without it will be difficult to create those quality athletes that started playing from school level. I'm happy that the minister has put forward a programme for school sports."
Ledwaba revealed that the foundation will host a fundraising golf day next month to help raise funds for the scholarship programme and provide financial support to deserving learners.