It a dominant trend globally that entrepreneurs and precisely, SMMEs are the main innovators and job creators and not governments contributing about 80% of the national economic activity with the multinational corporations commanding the balance of 20%.
It was therefore an anomaly and a great paradox that in the case of Botswana that multinational corporations and government rather than SMMEs play dominant role in the economy of the country which is evidence of the extent to which the sector need the support by all stakeholders to grow nevertheless.
This is according to local businessman and Oseg Group CEO Majakathata Pheko who provided insights best practices globally of the great potential of SMMEs to create more decent jobs for Batswana, Pheko was passionate about Botswana’s need to foster of entrepreneurship ecosystem to drive growth, enact enabling legislation like the USA Small Business Act to appreciate the role of SMMEs as the main creators of wealth and jobs in the developed world and introduce entrepreneurship training throughout the education starting from training from primary level.
Botswana must ensure that the entrepreneurship ecosystem is competitive and remove most of the current regulatory, financial and upstart barriers to doing business in the country by emulating some of the world renowned best practices in terms of innovation, productivity, and championing the entrepreneurial spirit of from Ireland, Israel, Iceland and Estonia.
Batswana must also change their mindset of stigmatizing and speaking badly of entrepreneurs but must celebrate them because they create wealth, which in turn creates jobs, grows the national economy with a multiplier effect whereby everyone prospers as a consequence. Entrepreneurs also create new products and are a source of innovation by applying new technologies and providing the necessary and relevant skills through training and personal development of employees.
The first generation of indigenous citizen entrepreneurs were farmers, followed by Traders and generals store owners, taxi and transport owners as well as owners of butcheries and liquor restaurants. The current third generation of entrepreneurs are driven by the information age, are keen to play in the global markets and regional expansion, compete on a global scale through innovation and adopting cutting edge technology. They are socially responsible and always eager to give back to the community.
However they face many challenges faced by entrepreneurs some of which are cultural issues such as stigmatizing enterprising people, financial support (ceda guarantee scheme), negative government policies and red tape, access to market, poor education and infrastructure.
Majakathata describes two types of entrepreneurs as being necessity the entrepreneurs and opportunity entrepreneur. It is the opportunity type who has a significant impact on economic growth and GDP. Opportunity entrepreneurs are willing risk their own money and their businesses are funded by private equity. Venture capital is the driving force for new jobs and nurturing of entrepreneurship ecosystem will foster economic growth,
Elements of entrepreneurial ecosystem entrepreneurship are described as individuals or institutes, organizations or individuals apart from the individual entrepreneur that are conducive to or inhibitive of, the choice of a person to become an entrepreneur, or the probabilities of his or her success following the launch.
Botswana Police Service (BPS) has indicated concern about the ongoing trend where the general public falls victim to criminals purporting to be police officers.
According to BPS Assistant Commissioner, Dipheko Motube, the criminals target individuals at shopping malls and Automated Teller Machines (ATMs) where upon approaching the unsuspecting individual the criminals would pretend to have picked a substantial amount of money and they would make a proposal to the victims that the money is counted and shared in an isolated place.
“On the way, as they stop at the isolated place, they would start to count and sharing of the money, a criminal syndicate claiming to be Criminal Investigation Department (CID) officer investigating a case of stolen money will approach them,” said Motube in a statement.
The Commissioner indicated that the fake police officers would instruct the victims to hand over all the cash they have in their possession, including bank cards and Personal Identification Number (PIN), the perpetrators would then proceed to withdraw money from the victim’s bank account.
Motube also revealed that they are also investigating a case in which a 69 year old Motswana woman from Molepolole- who is a victim of the scam- lost over P62 000 last week Friday to the said perpetrators.
“The Criminal syndicate introduced themselves as CID officers investigating a case of robbery where a man accompanying the woman was the suspect.’’
They subsequently went to the woman’s place and took cash amounting to over P12 000 and further swindled amount of P50 000 from the woman’s bank account under the pretext of the further investigations.
In addition, Motube said they are currently investigating the matter and therefore warned the public to be vigilant of such characters and further reminds the public that no police officer would ask for bank cards and PINs during the investigations.
Botswana Congress Party (BCP) leadership walked out of Umbrella for Democratic Change (UDC) National Executive Committee (NEC) meeting this week on account of being targeted by other cooperating partners.
UDC meet for the first time since 2020 after previous futile attempts, but the meeting turned into a circus after other members of the executive pushed for BCP to explain its role in media statements that disparate either UDC and/or contracting parties.
The Director General of the Directorate on Corruption and Economic Crimes (DCEC), Tymon Katlholo’s spirited fight against the contentious transfers of his management team has forced the Office of the President to rescind the controversial decision. However, some insiders suggest that the reversal of the transfers may have left some interested parties with bruised egos and nursing red wounds.
The transfers were seen by observers as a badly calculated move to emasculate the DCEC which is seen as defiant against certain objectionable objectives by certain law enforcement agencies – who are proven decisionists with very little regard for the law and principle.