The inaugural convention on Finance and Risk Management is expected to teach the general public, among other things, the concept of crowd-funding in relation to investment by citizens. Addressing the media last week, the initiator, Afitile Puso said the aim of the convention, billed for Wednesday and Thursday in Gaborone, is to improve the financial literacy levels of Batswana.
He said crowd-funding is the practice of funding a project by raising many small amounts of money from a large number of people for a common course.
Puso said it is paramount that citizens are informed well on issues of finance and risk management, as they are critical aspects of their daily lives. Puso said crowd-funding is a flexible model, which citizens can use to start their own companies and excel in entrepreneurship. A senior actuarial analyst at Deloitte in Johannesburg, Puso added that, the convention is a networking opportunity for businesspeople. He said students in the financial sector could also learn a lot from the stakeholders and facilitators who will be part of the event.
“We will provide a platform for highly driven young minds with compelling businesses or start-up ideas to present their proposals to investors,” said Puso.
Participating private company, Larven & Company, is expected to lead the lecture on the crowd-funding concept. The company owner, Larven Dintwe told Monitor Business that it was important for Batswana to be taught more on issues of wealth creation in order for the country to eradicate poverty.
“Batswana must be given a chance to participate in the minerals sector,” he explained on the sidelines of the press briefing.
Another participating entrepreneur Lefoko Mokoto of Otokom Company, agreed with Dintwe, further noting that the convention comes at a time when a lot of this country’s citizens are challenged by financial issues. Stakeholders such as the Ministry of Infrastructure, Science and Technology (MIST), NBFIRA and Botswana Stock Exchange have been engaged to create a platform where business ideas can be shared, he said.
The convention’s head of public relations, Legae Ramaja said the minister of MIST, Nonofho Molefhi is expected to give a keynote address. Also expected to attend are Member of Parliament for Gaborone Bonnington North, Ndaba Gaolatlhe and Botswana Stock Exchange (BSE) chief executive officer, Thapelo Tsheole.
Ramaja said partners of the event, which is organised by Risk Minds, include Actuarial Society of South Africa, Botswana Insurance Company, Africa Ithute, Ignite Park and the University of the Free State. Also billed for the event are experts in the financial sector and related stakeholders as well as students and academics from Namibia, Botswana, Lesotho, Zimbabwe and South Africa.