Youth business post impressive success rate
Monday, September 22, 2014
Close to 70% of youth businesses have survived first five years of operation
Having funded a total of 172 projects in Gaborone to the tune of P17.6 million since its inception in 2009, 116 youth projects are still surviving while the remaining 56 have collapsed.
This represents about a 67 percent success rate against a global benchmark of 20 percent.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...