25 Feb 2024

Lack of perseverance is identified as a significant factor leading to the collapse of businesses in Botswana, according to Minister of Youth, Gender, Sport, and Culture Mr Tumiso Rakgare.

Addressing attendees at the inaugural youth entrepreneurship graduation ceremony and the unveiling of the youth multipurpose hub in Francistown recently Mr Rakgare emphasised the importance of persistence in the face of challenges.

He stressed that business owners must display resilience and determination to navigate obstacles and prevent the premature failure of their ventures.

Mr Rakgare highlighted the critical roles of perseverance and resilience in sustaining business operations, noting that the absence of these qualities can lead to severe repercussions.

He underscored that despite the various factors contributing to business failures in Botswana, a lack of perseverance among business owners often stands out as a significant causal factor.

The Minister said entrepreneurs must possess the tenacity and fortitude to confront and overcome the hurdles encountered in business, such as financial crises and evolving market dynamics.

He stated that perseverance yielded numerous advantages, including an enhanced capacity to adapt to changing circumstances and the cultivation of robust relationships with stakeholders.

Concerning graduating cohort, Minister Rakgare advised them to exhibit patience and unwavering commitment when confronted with challenges in their entrepreneurial journey.

He underscored the importance of agility and energy in maintaining successful business operations, highlighting that these qualities were vital for staying motivated and fostering growth amidst evolving market landscapes.

Furthermore, Mr Rakgare introduced the Chema Chema Fund, which aims at catalysing a significant transformation within the informal sector by providing crucial financial assistance to entrepreneurs and small-scale enterprises.

He emphasised that the initiative aimed to empower the informal sector to actively contribute to job creation and economic development efforts.

Ms Tiny Tamasiga-Gontse, a youth coordinator based in Francistown, elaborated on the hub’s mission to offer a diverse array of services and amenities for the local youth populace.

These services encompass training, employment opportunities, and recreational facilities, aligning with the government’s commitment to bolstering economic growth and reducing youth unemployment rates.

She noted that the Botswana national youth policy had garnered regional recognition as a pioneering blueprint, with countries like Namibia and Zambia drawing inspiration from its multi-faceted approach towards youth empowerment.

Ms Tamasiga-Gontse attributed this success to the policy’s collaborative framework, emphasising the importance of engaging multiple stakeholders in addressing the needs of young people effectively.

Mayor of Francistown Mr. Godisang Radisigo urged residents to refrain from referring to the hub as ‘Ko Ditapoleng’, highlighting that this name may inadvertently paint a limited perception of the hub’s activities. He emphasised the hub’s diverse project portfolio, which extended beyond the sale of potatoes,  played  role in mitigating youth unemployment challenges in Francistown.ENDS