Speaking at the handing over ceremony, GMAC regional director for Europe, the Middle East and Africa, Benjamin Glover, said the grant was given in an effort to facilitate building programmes that will address limitations of management education in Botswana, southern Africa and the continent as a whole. He said the proposal for the development and delivery of business education and executive development programmes at UB's Graduate School of Business piqued his interest, especially because of its focus on consultation and the development of local talent.
The President of the Botswana Chamber of Commerce, Industry and Manpower (BOCCIM) Alex Monchusi, also speaking at the ceremony spoke to how the fund would benefit Botswana:" The fund will help UB identify and develop executive masters and executive development programmes, thereby addressing Botswana's skills shortage," he said.Monchsi further stated that the relevance of academic programmes offered in tertiary education should not be a matter for tertiary education institutions alone saying the participation of all stakeholders is necessary.
He revealed that in 2010, BOCCIM participated in consultations for the restructuring and development of new management degree programmes, which are now offered by UB under the Department of Management in the Faculty of Business."The 2012-13 Global Competitiveness Report that was recently released by the World Economic Forum shows that Botswana's quality score improved from 4.0 to 4.1, placing the country at position 79 out of 144 countries.While this reflects an improvement from last year's ranking of position 80 out of 142 countries, the report identified four most problematic factors that impede doing business in Botswana as poor work ethic in the national labour force, lack of access to finance, inadequately educated workforce and inefficient government bureaucracy," he said.
The GMAC was founded in 1953 and is an international non-profit organisation founded by nine leading business schools and is today overseen by a board of directors drawn from business schools across the globe to help schools finance the discovery and evaluation of talent.