First National Bank Botswana (FNBB) has teamed up with The NeoHub, a startup, to unveil an innovative initiative aimed at fostering growth, innovation, and sustainability in Botswana’s small, medium, and micro-enterprise (SMME) sectors.
The FirstPreneur Development Programme, launched in Gaborone on Thursday, aims to ignite Botswana’s entrepreneurial spirit.
FNBB CEO, Steven Bogatsu, said the bankโs collaboration with The NeoHub in launching the programme, represents a powerful synergyโa union of vision and purpose.
โFNB Botswana has always believed in the transformative power of partnerships,โ said Bogatsu.
โBy joining forces with a dynamic, locally owned entity like The NeoHub, we are not only pooling our resources and expertise but also aligning our efforts to drive impactful change in the SMME sector.โ
The FirstPreneur has been crafted as a comprehensive two-year programme designed to support and accelerate entrepreneurs in building sustainable businesses.ย
โThis initiative leverages the strengths of both organisations to create a synergistic force, one that will undoubtedly accelerate the development of SMMEs across Botswana in todayโs dynamic ever-changing competitive economy,โ explained the FNBB CEO.
โOne of the unique and defining features of The FirstPreneur program is the availability of a dedicated banking relationship manager for each participant.โ
The personalised support, which Bogatsu said is the first of its kind in Botswana, is aimed exclusively at 100 percent citizen-owned entities that have been in operation for at least two years.
The intentional focus is meant to provide an extra push to entrepreneurs who have already demonstrated resilience and staying power but need additional support to elevate their growth journeys.ย
โOur vision extends beyond immediate business success. We aspire to contribute to broader objectives such as community impact, financial literacy, and the establishment of a strong financial ecosystem for SMMEs,โ said Bogatsu.
โThis aligns perfectly with our shared value mandate, emphasising the importance of partnering and empowering others for the collective good.โ
Bogatsu emphasises that initiatives like The FirstPreneur reaffirm FNBB’s commitment to the principle that its success is intertwined with the success of its clients, partners, communities, and the nation.
Founder and Director of The NeoHub, Zindzi Letsididi, explained thatย the primary objective of the programme is to transform SMMEs into bankable entities.ย
โWe will identify and work with you to provide tailored support and resources to enhance your financial viability, making you attractive to potential investors,โ she said at the launch of the programme.
The programme according to Letsididi, will assist the beneficiaries in building governance processes for sustainable growth, emphasising transparency, accountability, and ethical practices.ย
โAligning with national and global best practices will ensure regulatory compliance and contribute to broader economic priorities,โ she said.
Another goal is to foster job creation within the identified businesses, contributing to overall employment growth.ย
She encouraged businesses to consider social impact by prioritising fair labour practices and diversity in their hiring processes.
Further, Letsididi said through the programme, they aim to facilitate SMMEs growth as engines of economic development by supporting them in expanding market reach and increasing revenue, with the hope to contribute positively to the national economy.
When officially launching the programme, Minister of Entrepreneurship, Karabo Gare, underscored the importance of establishing robust support systems for entrepreneurs such as access to funding, mentorship, and training.ย
โThe FirstPreneur Development Programme exemplifies such a framework, designed to empower our entrepreneurs,โ he said.
โInstitutions like FNB Botswana and innovation centers like TheNeoHub play a critical role in providing entrepreneurs with the guidance, resources, and collaborative environments necessary for success.”
Gare said it is essential to sustain and expand these initiatives to promote a vibrant entrepreneurial network.
โInvesting in our people, particularly our youth, is essential for sustainable growth,โ he said.ย
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โEducation and training programmes, such as the FirstPreneur Development Programme, must align closely with the demands of the modern economy, equipping entrepreneurs with the skills they need for success.โ
The minister said it is important to recognise that cross-border trade is crucial for local entrepreneurs to expand their markets and compete globally.
โBotswana’s strategic location positions it as a hub for regional and international trade, a position we can leverage through initiatives like the African Continental Free Trade Area (AfCFTA),โ he noted.
โBy improving trade policies, streamlining customs procedures, and enhancing market access within the region, we can unlock new opportunities for our businesses.โ
Gare hailed The FirstPreneur Development Programme as a significant initiative that will nurture Botswana’s entrepreneurial spirit.
He believesย the initiative will play a pivotal role in nurturing the next generation of successful entrepreneurs who will propel the economy forward.
