The Counselling Psychologist and the Coordinator of the Youth Ideas Expo at the University of Botswana under the Careers and Counselling unit, Ms Emmah July says youth entrepreneurs are vital in the diversification and growth of the country’s economy.
Speaking in an interview with WeekendPost, at the sidelines of the Ideas Expo held at the University of Botswana, July said the objectives of the Ideas Expo are to help the youth entrepreneurs and aspiring businessmen and women to acquire entrepreneurial skills and market expansion for their businesses. She further stated that the expo also facilitates promotion and is a marketing platform for the youth owned small business enterprises to grow. “The Youth needs to be helped in growing and marketing their products, hence there is a need to host much of this kind of expos, to empower and enrich the youth on how they can grow in businesses,” said July.
July said youth owned businesses have the potential to create employment for other young people, thus curbing high the unemployment rate the country is facing.“Our economy should not rely only on minerals and tourism sectors, manufacturing and industries should also contribute. Youth businesses should help the government to create jobs,” she added.She is of the view that the youth have good enterprises and business ideas, the only hindrances being they lack knowledge and necessary skills on how to run or implement such ideas. She also reckoned that most of the failing businesses are those owned by the youth simply because of lack of market exposure.
Moreover, she said the expo focused mainly on equipping youth businesses with business running skills, and the opportunity to sell their products, especially businesses located in rural areas. She added that the expo is beneficial to the youth in many ways because they are able to establish connections and benchmark from each other. “This is the most important time for business owners to sell, market, connect and learn from other business colleagues with the aim of fostering growth in one’s business,” she added.
July further said they also invited youth funding organizations such as CEDA, LEA, Innovation Hub and Business Botswana to be exhibitors so that they can also share with the business owners on how they can assist them. She highlighted that the funding organizations assist youth in many ways when it comes to business such as formulating business proposals and protecting the ideas.
For his part one of the youth entrepreneurs and exhibitors, Mr Vincent Makgetla of Demographix Communication applauded the efforts made by stakeholders to organize youth exhibitions and expos. He said this enables both youth entrepreneurs both from urban and rural areas to come and display their products with possibilities of market growth. “Expos are very important because they help us to make our businesses well known by establishing connections,” he said.
Youth business owners exhibited products in the areas of fashion design, costumes, digital media organizations services and art work.
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.
The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.
In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.
Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.
China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.
Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.
On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.
According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.
The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.
Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.
According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.
The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.
Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.
Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.
Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana. The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.