Thursday, May 23, 2024

Botswana urged to develop entrepreneurship culture through ‘right’ policies

Chairman of the National Small Industries Corporation (NSIC), Ravindra Nath, says the only way Botswana can develop and grow the spirit and culture of entrepreneurship is through sound policies and programs that will create interest for the unemployed to consider setting up their own business.

Nath says most small business fail mainly because of failure to provide a one stop shop. “Upcoming entrepreneurs, particularly those under resourced, are discouraged when they are sent from pillar to post,” Nath said.

In a brief interview after the signing of a memorandum of understanding (MOU) between NSIC and the Local Entrepreneurship Authority (LEA) on Friday, Nathi said that skills development is also key in building up the entrepreneurship culture.

Nathi said in order to promote small and budding entrepreneurs post independence, India decided to establish a government agency which can mediate and provide help to small scale industries (SSI).

“As such the government established the National Small Industries Corporation with objectives to provide machinery on hire purchase basis and assisting and marketing in exports. Further, SSI’s registered with NSIC were exempted from paying Earnest money and provided facility of free participation in government tendered purchases.”

Sunday Standard understands that a three-member delegation of the NSIC visited Gaborone at the invitation of LEA in January this year to scope out the setting up of a Rapid Incubation Project (RIP) in Botswana the small industries sectors such as food & vegetable processing, manufacturing of small household consumables.

A 13-member LEA delegation also paid a follow up visit to NSIC in India later that month to finalize details and sign a MOU for the setting up the RIP Centre in Botswana in Botswana.

On Friday NSIC Chairman, Nath together with LEA Chief Executive, Tebogo Matome, signed a MOU that would see the former assisting the latter to carry out industrial potential surveys and feasibility studies in a bid to identify thrust areas and opportunities for the development of small enterprises in Botswana.

LEA Board Chairman, Bathatswi Tsayang, said the soon-to-be-launched Rapid Incubation programme will contribute immensely towards the economic diversification agenda.

“Additionally it will create employment opportunities for the entrepreneurs who will be housed as incubates, as well as those that will employ once they graduate from the incubator to set their own business”.

LEA intends to provide a number of entrepreneurial and development interventions to entrepreneurs including facilitation of technology adoption and diffusion.

The Authority claims to have trained 9 317 entrepreneurs to date, in an endeavor to improve and enhance the capacity and competitiveness of enterprises.


Read this week's paper