03 Mar 2020

Preparations for the Forbes Under 30 Summit scheduled for Botswana on April 19-23 are on the right track, says Assistant Minister of Investment, Trade and Industry, Mr Karabo Gare.

Responding to a question in Parliament on Monday, Mr Gare said his ministry together with the Office of the President were coordinating preparations for the summit in consultation with the private sector.

Mr Gare explained that the summit would promote youth development and entrepreneurship as well as provide a platform for networking among young entrepreneurs and harness economic benefits for service providers.

He said a number of teams made of representatives from both the public and the private sector had been constituted and were working tirelessly to ensure Botswana delivers a successful summit.

Mr Gare indicated that Botswana was required to raise P11 million to finance the summit and the process to raise those funds was at an advanced stage, adding that several private companies had pledged support.
In addition, he said Forbes had confirmed participation of 37 countries and participants would have to be 29-years-old by March 2020 and were expected to pay a registration fee of US$ 2 345.

Hosting of such a prestigious event, he said, would foster entrepreneurship in the country and expose the youth to international business people as well as provide youth with an opportunity to network with their peers.

The assistant minister pointed out that Forbes would bring full media coverage, thus instantly giving Botswana youth entrepreneurs global visibility due to coverage accorded to the host country to an audience of approximately 100 million across all platforms.

Furthermore, Mr Gare highlighted that government, in-conjunction with the private sector, would finance 200 Batswana youth entrepreneurs who would have the opportunity to interact with game changers and entrepreneurs with a possibility of establishing long term business partnerships.

In addition, he said, the social and cultural aspect of the summit would accord artists, chefs and entrepreneurs an opportunity to showcase their talents, thereby allowing participants a Botswana cultural experience.

“The Forbes Under 30 Summit comes at a time when Botswana has re-invigorated its pursuit of the transformation agenda, which places the youth at the core of our planning. Botswana already has well-established policy framework that seeks to promote youth participation in economic development,” he said.

The assistant minister stated that Forbes had invited venture capitalists and business role models who would share ideas and experiences with youth entrepreneurs.

Kgalagadi North legislator, Ms Talita Monnakgotla, had asked the assistant minister to state readiness of Botswana in hosting Forbes under 30 Summit and how the country would take advantage of the event to help the youth to be at the forefront of economic development.

MP Monnakgotla also wanted to know deliberate plans that had been put in place to immediately translate their ideas into practice to help grow and become sustainable businesses.
She further asked if there were plans to involve Batswana and international big businesses to encourage them to sponsor some of the ideas that would be generated at the prestigious event. ENDS