Stanbic Bank has unveiled the youth business incubator named the ‘Acceler8’ space.
The space, which has already started hosting conferences and mentorship programmes, will be available for use by youth-owned businesses under the authorisation of the bank.
The facility is officially open for use by the Botswana youth who need mentorship or entrepreneurial training.
Some of the youth business owners present at the launch expressed their appreciation at the prospect of having a facility like Acceler8 to help them grow their businesses and also make them sustainable in a growing economy.
The incubator is said to be the bank’s move at making a more substantive contribution towards changing the employability narrative in the country.
It is also a part of its Social Economic and Environmental (SEE) Value Driver, which is an initiative that seeks to ensure that the bank’s sustainability, is linked to the well being and prosperity of the communities in which it operates.
The centre is meant to serve as a platform to allow for youth to engage in working groups, facilitated sessions, mentorship and coaching while utilising the training rooms, boardroom, co-working spaces and the event space.
The Minister of Investment, Trade and Industry, Peggy Serame said over the years they have been engaging various stakeholders to collaborate on the implementation of the ministry’s mandate.
This entails development of sustainable and competitive industries or businesses with a view
“The work that is being done by banks to ensure financial inclusion can have a huge contribution to the socio-economic progress of the country as she highlighted the alignment of the initiative with existing government strategies such as the Vision 2036, National Development Plan 11 (NDP11) and the Sustainable Development Goals 2030,” she said at the launch recently.
Serame said government has been engaged in implementing the Doing Business Reforms Roadmap adopted in 2015 through ministries to provide a favourable environment for businesses.
She commended the bank for its continued efforts in transforming the lives of those they work with and also for providing the incubation centre to be used to groom youth through entrepreneurial mentorship and coaching.
Stanbic Bank CEO, Samuel Minta pointed out that as part of their Youth Employability Agenda over the next three years they will be investing up to P6 million, which makes up one percent of the bank’s profit towards a number of associated work streams.
The bank’s board member, Tebogo Matome said as a bank they believe the youth are the country’s future and thus the need for them to be empowered and provided with the necessary tools to be able to drive the economy of the country towards prosperity.