27 Mar 2018

Ministry of Youth Empowerment, Sport and Culture Development and First National Bank Botswana (FNBB) have on Monday signed a Youth in Business Value Proposition.

The proposition offers the Ministry’s funded businesses with an First National Bank (FNB) bundle that include Transactional, Investment, Insurance and Lending products.

The partnership is targeted towards youth entrepreneurs, upcoming sports professionals and youth sponsored by government who would benefit from Capacity building, coaching and mentoring and facilitation of access to markets.

The Youth Value Proposition comes with embedded benefits of banking with FNB where the bank’s customers will enjoy innovative financial solutions that include online banking, cellphone banking, eWallet and FNB App among other services.

Speaking at the MoU signing ceremony, Permanent Secretary in the Ministry of Youth Empowerment, Sport and Culture Development Mr Kago Ramokate said his ministry provided financial and technical assistance to many young people through the provision of services.

He said that was achieved by means of specific targeted programmes like access to finance, access to grants and character building initiatives.

Mr Ramokate noted that the needs, interests and aspirations of the youth were diverse and challenging, therefore strategic partnerships were required to augment government efforts to meet them.

Mr Ramokate added that government needed the private sector and other able and willing players to mutually commit to ensure realisation of a proportional mileage in youth empowerment.

“This partnership was propelled by a need to explore financial facilities beyond the Youth Development Fund threshold of P100 000, lack of investment products which embed a culture of saving, lack of business insurance, limited lending products and lack of other resources like the human capital to grow viability of businesses and ensure sustainability of jobs created among youth owned enterprises,” he said.

For his part, FNBB CEO Mr Steven Bogatsu said the youth was faced with a heightened rate of unemployment.

He said while that posed a challenge to numerous stakeholders, it had also served as a catalyst for many young people to explore their talents and the monetisation of those talents as well as driven more young people than ever into entrepreneurship.

“The FNB Youth Value Proposition supports the entrepreneurship drive that many youth have demonstrated.

It promotes financial inclusion and easy access to financial solutions especially for our youth in business,” he added.

The Youth Value Proposition offers innovative products and services geared towards giving customers control of their finances and allow them to enjoy the convenience of banking uninterapted. ENDS