21 Mar 2016

Minister of Trade and Industry, Mr Vincent Seretse has implored the youth to consider registering co-operatives societies.

Speaking at the ministry’s Youth Business Forum held under the theme Developing Competitive and Sustainable Youth Business in Gaborone recently, Mr Seretse said the co-operatives development department registered and provided orientation to individuals interested in forming such societies.

As such, he said those who wanted to form co-operative societies should register at any co-operatives development department offices across the country.

The minister explained that the youth business forum was an initiative by the ministry to interact with the young people and empower them to grow their enterprises. 

The theme,   he said was premised on recognition of challenges facing enterprises in the economy, adding it was therefore important to share critical information on the business provided by the ministry.

He added that the forum was the beginning of a series of similar interactions that the ministry planned to conduct throughout the country.   Meanwhile, Minister Seretse expressed concern about a lot of enterprises which he said lacked competitiveness. 

“A lot of them in most cases are unable to withstand the storms and rigours of competition in the domestic and business environment,” he said.

He noted that there was a high unemployment rate estimated at 17.5 per cent, out of which approximately 70 per cent constituted unemployed youth.

“It is important to identify new sources of growth and employment. I urge you all to utilise the services and programmes within this ministry to develop new and sustainable businesses, grow your business and gain market access not just domestically, but regionally and internationally,” he said.

However, the minister warned the youth that establishing businesses was not for the faint hearted because in most cases tough decisions can break or make them. “You therefore must have a clear vision, passion, work hard and have perseverance, continuously improve on your product to remain relevant to your market,” he said.

On the ministry’s mandate, Mr Seretse said their aim was to stimulate entrepreneurship development business facilitation and promotion of competitive and sustainable private sector. 

Further, the minister explained that government was collaborating with some development partners to address poor product quality, low productivity, low level of technology up take by entrepreneurs, poor packaging, labelling and marketing, testing and certification of local products.

That, he said, was because some procuring entities had cited such as major hindrances to local procurement enterprise capacity building. Ends