BDC Evaluates 246 Proposals For Business Den Competition
Pauline Dikuelo | Monday January 25, 2021 17:07
BDC’s Head of Corporate Affairs and Strategy, Boitshwarelo Lebang explained they were currently on the last phase in preparation for the final pitch.
“The pitch is scheduled for end of March this year and the date will be communicated once confirmed,” she told BusinessMonitor.
Earlier last year BDC, which is Botswana government’s investment arm, reached out to young entrepreneurs with exceptional business ideas to submit their proposals at its Head Office as part of the Business Den Competition.
As part of the competition, entrepreneurs are given an opportunity to pitch their idea to a panel of successful business people in Botswana and stand a chance to win up to P500,000 including mentorship and regional business networking opportunities.
“We will be backing scalable ideas that have the potential to export across the African region. Only shortlisted entries will be invited to pitch and only winners will be awarded funding,” the Corporation stated at the time. The competition is open to 100% youth-owned Botswana companies between the ages of 18 and 35. Both start-ups and existing businesses qualify for this opportunity and all sectors will be considered.
BDC had earlier revealed its plans to spend up to P750 million on various new projects bolstered by resurgent finances and an P800 million loan from the African Development Bank (AfDB).
Last year BDC and AfDB signed a P900 million thematic Line of Credit for a 10-year tenor. The injection will support the Corporation’s long-term strategy to scale up its investments in key sectors including manufacturing, transport, agriculture agro-processing and service sectors with the objective to support transformation and industrialisation of the economy. The transaction further supports BDC’s focus on safeguarding its balance sheet to ensure financial sustainability whilst fulfilling its mandate as the government 's main investment arm.