The World Bank through its office in Botswana is working in collaboration with the southern African country in drafting Botswana’s national entrepreneurship policy, the bank’s official said Saturday.
Xavier Furtado, the World Bank’s representative in Botswana, told a gathering that included government officials, representatives of the country’s private sector and academia in Francistown, Botswana’s second largest city.
According to Furtado, the World Bank is assisting Botswana’s Ministry of Investment, Trade and Industry to draft the first ever national entrepreneurship policy with a view of driving the country’s economic diversification.
Furtado said the event is aimed at creating a platform of deepening consultations around the draft policy and ensure that it speaks directly to the “needs, challenges and priorities of key stakeholders in the entrepreneurship network of Botswana.”
“Botswana is faced with pressing issue of youth unemployment,” said Furtado, adding that the eventual formulation of an entrepreneurship policy will serve as a launching pad towards dealing with youth unemployment.
He noted that innovation and entrepreneurship are key aspects of a dynamic business environment, a competitive economy and inclusive growth.
Bogolo Kenewendo, Botswana’s Minister of Investment, Trade and Industry, said the administration of President Mokgweetsi Masisi commits to take on board all the insights derived from the entrepreneurship policy.
“The insights will be considered for adoption into the country’s National Economic Policy of 2019,” said Kenewendo.