29 May 2017

A University of Botswana lecturer in the Department of Accounting and Finance, Mr Ishmael Radikoko says there is need to reduce bureaucratic processes, conditions and obstacles that may hinder entrepreneurs to do business.

Speaking at a business seminar hosted by UB on May 25, Mr Radikoko said one of the conditions was the reduction in obstacles during the business start-up process and ensuring that expertise could be easily accessed.

He said financing remained a challenge to many aspiring entrepreneurs, adding that the issue of funding sustainable youth and female entrepreneurial initiatives should be at the top of government’s agenda.

Mr Radikoko implored the Ministry of Youth Empowerment, Sport and Culture Development to ensure that its support for youth programmes was balanced on the basis of gender.

He encouraged entrepreneurs to create relationships with research institutions and universities and to tap into their resources to undertake research and adopt findings into their business operations.

Furthermore, Mr Radikoko said research has revealed that most businesses failed due to entrepreneurial finance, commercial and legal infrastructure, entry regulations, culture and social norms and government policies.

He said the research also revealed that physical infrastructure was the only issue that stimulates businesses in Botswana.

In his welcome remarks, the deputy mayor, councillor Godisang Radisigo applauded UB for its effort to engage the business community as a cross fertilization of ideas on innovative business financing.

He said as the leadership of Francistown they were calling for more collaboration and engagement with the city.

Councillor Radisigo said the leadership was of the view that the UB campus in Francistown should be upgraded to offer fully fledged degree courses instead of just being a centre of continuing education.

“We believe it is time the university took a leading role on issues of national interest, and it can only achieve such if it becomes proactive and champions research in different areas of development that underpin our daily lives,” he said.

He said the leadership of Francistown aimed to transform the city into an investment hub thereby contributing to employment creation and poverty eradication.

The theme of the seminar, which was on the sidelines of the Business Botswana Northern Trade Fair, was "Innovative business financing in tough economic times.” ENDS