P20 MILLION FOR INCUBATION PROJECT The Poverty Eradication Coordinating Unit has funded the pilot rapid incubation project to the tune of P20 million. Giving a keynote address during a press briefing organised by LEA to launch the project and sign a MoU with National Small Industries Corporation (NSIC) of India, the acting Minister for Presidential Affairs and Public Administration, Mr. Shaw Kgathi said by funding the project through the poverty eradication budget, “that in itself shows our desire to ensure that this is realized within the shortest time possible.” The rapid incubation, Mr. Kgathi said, was an appropriate innovation tool for capacity building and preparing any unemployed person to start up an enterprise, adding that the signing of the MOU was also a clear sign that the government of Botswana was committed to nurturing SMMEs. Through this MoU, he said LEA and NSIC had sealed their partnership to promote, facilitate and nurture entrepreneurship and SMME development through stimulating innovation and spurring sustainable economic growth of Botswana. The aim, he said was to convert the unemployed into potential entrepreneurs by way of proving all support services under one roof, adding that the project facilitated low cost projects that could create employment for two to five people. “With this model I see change in the mindset of Batswana in terms of entrepreneurship culture. Your tremendous assistance will assist promoting SMMEs and developing them for growth,” he added. SMMEs, Mr. Kgathi said were the engines of economic development in all economies in the world, as “they drive innovation, stimulate a country’s equitable growth, and create self-employment to cease the challenge of unemployment.” In his welcome address, LEA board chairman, Mr. Batlhatswi Tsayang, said the Project would contribute immensely towards the economic diversification agenda. Additionally, he said it would also create employment opportunities for the entrepreneurs who would be housed as incubates, as well as those that they would employ once they graduated and started their own businesses. SMMEs, Mr. Tsayang said faced various limitations in their daily operations of their businesses. Therefore, this project, he said would be closing the gaps and in the process ensuring incubates were capacitated with practical skills needed to manage their businesses. LEA and NSIC’s partnership, Mr. Tsayang said would help nurture talents that would eventually develop the country’s manufacturing sector and assist in producing world class entrepreneurs and products that could compete globally. For his part, NSIC chairman, Mr. Ravindra Nath, said the project would further accelerate the policy frameworks which were already in place for entrepreneurship creation. These synergies that LEA and NSIC were creating, Mr. Nath said would also help the enterprises of both countries to be globally competent. In her vote of thanks, the Acting Permanent Secretary of the Ministry of Trade and Industry, Ms. Peggy Serame said the project was yet another milestone in the government’s efforts towards entrepreneurship development, employment creation and eradication of abject poverty. This project, she said would also go a long way in contributing to the country’s economic diversification and development efforts. She thanked NSIC for its commitment and assistance in providing support for Batswana entrepreneurs by bringing various international and regional expertise and experience together. She also thanked Mr. Kgathi’s office and the Poverty Eradication Coordinating Unit for the foresight and recognition of the strategic importance of the project, as well as the LEA board and management for having seen it fit to pursue partnership with NSIC. This partnership, Ms. Serame said would help promote entrepreneurship and the overall upliftment of the small enterprises in Botswana. In 2012 NSIC came to Botswana to conduct a feasibility study on the establishment of a Rapid Incubator in Botswana. Therefore, this project comes as a result of a working relationship between NSIC and LEA that was first formalized in 2010, in recognising the need for empowerment of the small enterprises in Botswana. Based on their assessment, the two organisations partnered to provide an integrated support system for the unemployed people through an incubation centre that empowers them with knowledge, infrastructure and other support services for setting up of new small enterprises. A decision was then taken to establish a Rapid Incubator, based on the raw materials, as well as skills available in Botswana. This Incubation Centre is expected to advance the growth of entrepreneurship in Botswana by exposing incubates to technical and business skills. The duration of incubation is three months, with four weeks of practical training and the remaining period dedicated to learning technical and business skills. The project is planned to train 90 incubates in the initial phase. The selected projects will range from; wire nail manufacturing, food processing of various food stuffs and knitting. (BOPA)
Posted on: Tue, 07 Oct 2014 06:49:18 +0000
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