Deputy Permanent Secretary in the Ministry of Entrepreneurship Helen Chilisa (L) and Absa Head of Global Markets James Nthoyi sign a memorandum of understanding in Gaborone, Botswana, on April 3, 2023. (Photo by Tshekiso Tebalo/Xinhua)
Botswana and its financial institution Absa Bank Botswana signed a Memorandum of Understanding to create platforms that empower and develop entrepreneurs.
GABORONE, April 4 (Xinhua) -- Botswana and its financial institution Absa Bank Botswana signed a Memorandum of Understanding Monday to create platforms that empower and develop entrepreneurs.
"The world at large is faced with high unemployment rates and there is a need to grow the public and private sectors to groom youth, unemployed and underemployed to be employers and entrepreneurs of tomorrow," said Deputy Permanent Secretary in the Ministry of Entrepreneurship Helen Chilisa at the signing ceremony in Gaborone, the capital of Botswana.
The initiative is part of efforts to deliver citizen economic inclusion, entrepreneurial development, and economic diversification. It seeks to break barriers, equipping and enabling Botswana's future entrepreneurs, she said.
The collaboration is in line with her ministry's mandate to drive and administer change for Botswana's entrepreneurs with the aim to drive economic diversification and growth, Chilisa said, adding that the ministry has been tasked with putting in place policies to enhance entrepreneurship.
Commenting on the collaboration, Absa Head of Global Markets James Nthoyi said that the small and medium-sized enterprises (SMEs) sector has proven to be an important driver of economic growth and employment creation across the world, and this initiative reaffirms the bank's commitment to supporting entrepreneurship in Botswana. ■
