24 Sep 2017

Youth entrepreneurs who have benefitted from the Youth Development Fund (YDF) stand to benefit more following the launch of a mentorship sponsorship from the British High Commission.

Speaking at the launch of the sponsorship on September 22, deputy permanent secretary in the Ministry of Youth Empowerment, Sport and Culture Development, Mr Kgopotso Ramoroka said government had for years been concerned about the sustainability of youth businesses.

He said government’s intention was therefore not just to ensure that youth-owned businesses managed to break even, but that they started making profits.

Mr Ramoroka said one of the things that had been hampering efforts to increase the success rate of youth businesses had been lack of mentorship, a situation he noted had been borne out of shortage of programmes officers in the ministry as well as lack of business skills and a passion for business in some of the available programmes officers.

He therefore hailed the move by the British High Commission to sponsor the YDF to a total tune of P207 000 to be used towards providing mentorship to YDF funded entrepreneurs.

He said the Ministry of Youth Empowerment, Sport and Culture Development had since engaged consultants to pilot the project that would see the consultancy firm working with 20 young entrepreneurs in Kgatleng district to ensure that they succeed in their business endeavours.
The deputy PS said the pilot project was important as it would avail data that would be used to solicit additional funding for the eventual rolling out of the project to the whole of the country.

Speaking at the launch, British High Commissioner to Botswana, Ms Kathy Ransome described mentoring as a powerful tool that carried the potential to propel businesses to greater heights.

She noted that although a small start, the contribution by the British High Commission would help guide future policies on youth businesses.

She expressed optimism that with the contribution they had advanced, youth entrepreneurs would succeed in their entrepreneurial ambitions.

Citing lack of market access as one of the challenges that young business owners encountered, Ms Ransome said it was the desire of the British High Commission to see strong and vibrant youth-run businesses that would trade not only in their localities but through-out the whole of Botswana.

Imploring YDF funded businesses to make the most out of the mentoring project, she stated that what they would get out of the project would be equivalent to what they would put in.

The consultant tasked with the pilot project, Mr Tumelo Pheko indicated that some of the findings they made when carrying out the needs assessment of the 20 selected businesses included poor record-keeping, poor financial management as well as financial indiscipline among youth entrepreneurs, lack of market access, lack of technical support as well as non-insurance of business assets.

Some of the recommendations they had made to the ministry included provision of training, mentorship and regular project monitoring , equipping young business owners with marketing and budgeting skills, facilitation of technical support from support entities such as the Local Enterprise Authority (LEA), as well as market access support.

A YDF beneficiary, Mr Lempho Khumalo, whose company manufactures cleaning chemicals, commended government for the support it was giving youth-owned businesses. ENDS