Youthful Corporate High Flyers Impress Minister

By Nelson Direng
Correspondent | Monday December 14, 2009 00:00

 

The minister said during his second familiarisation visit to the Botswana International Financial Services Centre (IFSC) in Gaborone last week that it is a positive thing that more and more young Batswana are taking part in improving the country's economy. He acknowledged the fact that IFSC is an organisation predominantly run by Batswana. He said that it is important for companies to empower Batswana and equip them with the necessary skills for them to develop the country.

Tibone said the ministry and its parastatals have to come together regularly to work as a team in order to fulfill their goal of improving the economy. 'We have to better manage our communication channels in order to cement our current partnership. The IFSC has engaged different companies from different countries with different products and services under its accreditation,' he said. The IFSC was established in 2003 and has accredited 35 companies of which 25 have successfully commenced regional financial and business operations. IFSC chief executive officer, Alan Boshwaen said that 10 companies have dropped out due to unforeseen circumstances. 'Some of them dropped because of the global economic crisis while some dropped to look for greener pastures elsewhere,' he said.

The remaining 25 IFSC operating companies have employed about 585 skilled financial and business professionals. The companies have developed strong linkages with domestic economic interests and local capital markets. To date three IFSC-accredited companies, Imara Holdings, Letshego Holdings, and BancABC Holdings have successfully listed on the Botswana Stock Exchange (BSE).

Boshwaen said that the IFSC is currently in advanced discussions with several companies to establish operations in Botswana such as Samstar Capital Management. He said the company is a joint venture between Southern Africa Media Development Fund (SAMDEF) and UK based Stargate Capital. 'Samstar Capital will raise and manage funds that they will invest in media and technology companies in the SADC region,' he said.

Boshwaen added that the IFSC is implementing a Business Process Outsourcing and Call Centre (BPO) stimulation programme. The programme is aimed at developing an enabling environment to stimulate the growth of the BPO and call centre industry in Botswana.
This year, IFSC in partnership with Botswana Accountancy College (BAC), introduced a UK-accredited BPO and Call Centre diploma course entitled Edexel B-TECH to develop a trained skills base for the BPO and Call Centre industry in Botswana. 'A hundred young Batswana are currently enrolled in this programme and they are sponsored by the Ministry of Education,' Boshwaen said.