Ministry Empowers Young Entrepreneurs

| November 18, 2014 | 0 Comments

Since the inception of the Youth Development Fund (YDF), about P17. 5 million has been used to fund 180 projects, of which 116 have collapsed.

Gaborone district coordinator in the Ministry of Youth ,Sport and Culture Mr Jacob Sekgoni said, “the situation is worrisome as there is need to create jobs and sustainable businesses.” Mr Sekgoni said since 2009 to date, YDF had funded individuals to a maximum of P1 million at 50 per cent grant and 50 per cent loan.

Speaking at a two-day business skills training and mentorship workshop held by the ministry in partnership with Desmas trainers and consultants, Mr Sekgoni said for 201415 financial year, Gaborone district has funded 28 projects to the sum of more than P2 million which he said will create about 20 jobs.

He also highlighted the challenges they faced such as lack of market, lack of marketing skills, inadequate monitoring of projects by officers, lack of appropriate operational space particularly in Gaborone, high rentals, poor business communication skills, lack of product development initiatives and poor financial management.

Mr Sekgoni said the above challenges led to the collapse of businesses and non-payment of the loan component of the YDF, which is a revolving fund.

Desmas trainer and consultant, Mr Robert Moumakwa taught the young entrepreneurs who attended the workshop, the skills necessary in running a business.

He taught them business communication and marketing skills and how to find mentors in business environment.

The workshop aimed to empower young entrepreneurs on effective business management skills.It also afforded the young entrepreneurs an opportunity to network, collaborate and share ideas on how to run businesses with a view to making them sustainable.It allowed the YDF beneficiaries to provide feedback to the ministry on how best the ministry can serve them to be better entrepreneurs.

Source : BOPA

Source : Botswana Daily News

Category: Governance

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