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Business Pitso empowers Gabane Youth

Keikantse Lesemela

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President Mokgweetsi Masisi

Gabane Youth Business Pitso (GYBP) Chairman, Blondie Malope said they are committed to empowering young and aspiring entrepreneurs in order to diversify the economy and reduce high rate of youth unemployment.

Under the theme, ‘Championing Business Growth,’ the event will be held at Gabane Junior School on January 19 next year. Malope told the Business Trends that since its establishment in 2016 the annual event has grown, recording more than 150 young and aspiring entrepreneurs last year. They have partnered with Citizen Entrepreneurial Development Agency (CEDA) and are proud to announce the third edition of Gabane Youth Business Pitso.

“This is yet another testament of GYBP’s heightened caliber of encouraging entrepreneurial development amongst youth across the nation, a mission highly supported in the State of Nation Address (SONA) by the President, Dr. Mokgweetsi Masisi. We have therefore made a strategic move to partner with CEDA as one of the government’s financial investment giants for youth owned businesses to further support its duty to unlock sustainable business opportunities,” said Malope.

The guest speaker will be Nathan Kgabi, Chairperson of the BotswanaPost Board. To also grace the event, would be the community’s very own legend in the entertainment industry, Frank Lesokwane of Franco Investments and other speakers will include the author of “The Art of Starting Small” and co-owner of Studio24, Kenneth Mmipi.

“It is always a pleasure partnering with our friends across all industries as an indication of our continued support for economic diversification. We are excited to witness the invaluable backing of Batswana, especially our local community of Gabane, their support has been nothing short of amazing over the past three years of hosting this event,” said Malope.

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LEA partners with Ministry for youth businesses

Keikantse Lesemela

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Ministry of Youth Empowerment, Sports and Culture Development, (MYESCD) has partnered with the Local Enterprise Authority (LEA) to create a pool of competitive and sustainable youth businesses.

Through the partnership, business management and mentoring services will be provided to the Youth Development Fund (YDF) beneficiaries to enhance their efficiency and capacity to manage and sustain their businesses.Speaking during the signing ceremony MYESCD Deputy Permanent Secretary, Kago Ramokate said the ministry has always had a challenge with lack of expertise mentorship to young entrepreneurs so partnership with LEA will assist the ministry to effectively deliver its mandate.

“Training and mentorship has been a challenge for us because our officers mostly do not have business background so this partnership will address this,” said Ramokate.In his remarks, LEA Chief Executive, Racious Moatshe said the partnership is paramount to achieve government initiative of creating a pool of competitive and sustainable Small Medium and Micro Enterprises that will significantly contribute towards the diversification of the economy. It is also expected to meaningfully impact local communities through employment creation and import substitution.

“We want to ensure that youth businesses are run properly with proper funding. Both institutions will jointly conduct research that has direct impact on scaling up of youth owned businesses in Botswana,” said Moatshe.

He said over 2 500 youth businesses have received LEA intervention. “We want to see more youth businesses succeed”. Meanwhile, the ministry has been urged to come up with a better strategy to effectively deliver the YDF program and produce successful youth businesses. According to the Auditor General’s report for the past year, Pulane Letebele pointed out that the operation of the fund was highly unsatisfactory because of lack of proper monitoring and mentoring of the beneficiaries, financed from the Fund on a 50 percent grant 50 percent loan basis.

The Auditor General complained that two years after the Public Accounts Committee called for a stream lining of the Fund’s accounting system to allow for proper debtor accounting, nothing has been done.The 2015 Auditor General’s report has revealed that all five regions that had been selected for audits during the year show that the fund has failed. “In Maun about P20 million was disbursed in loans and only P400 000 has been paid while P640 000 was the total of arrears covering the entire period from inception of the fund in 2009,” reads the report.

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Ex Debswana boss counsels graduates

Keikantse Lesemela

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Speaking at the graduation ceremony of Botswana Accountancy College (BAC) on Saturday, former Managing Director of Debswana, Balisi Bonyongo said graduates and citizens need to position themselves to develop a clear technology and innovation strategy and roadmap that would enable the nation’s transformation into a knowledge-based economy.

“We need to create an entrepreneurship centre that would bring industry and the college together, to form a powerful force that would co-create breakthrough solutions capable of diversifying our country’s economy,” said Bonyongo.

The college released 645 graduates from different fields on Saturday. Since inception 22 years ago over 11 000 professionals graduated from the school. Bonyongo highlighted that graduates should approach problems creatively to provide sustainable, scalable and exponential solutions that could yield tremendous economic value.

“I urge all graduates to leverage technology and innovation to deliver practical solutions to society’s most urgent problems. Use your qualifications to seize opportunities to do what you love and enjoy,” said Bonyongo.

BAC Executive Director, Serty Leburu said between 2017 and 2018 they have experienced growth in the number of new students both full time and part time. “This mark of quality has inspired us to spread our wings and expand into other markets through various collaboration models,” she said.

Leburu revealed that they are currently in the process to introduce online learning to effectively support part-time students as well as provide some programs digitally. The college has partnered with several international universities including, University of Derby, Sheffield Hallam University, University of Sunderland and SAP University Alliance as well as Microsoft and the Cisco Academy.

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