Hollard: Empowering Project124 to soar across borders, nurturing ‘BETTER’ futures

Deputy Chief of Missions US Embassy, Kali C Jones Hollard Life Head of Distribution, Reason Nyamambi Project124 Executive Programme Manager Goitsemang Khutsafalo Minister of Trade and Industry, Hon. Peggy Serame

By: Henry David

Project124 an Entrepreneurship program which is a brain child of Launchit International and powered by Hollard Life has since inception in 2016 strived by taking notable milestones in building better youth entrepreneurs as well as enabling them to better their communities.

Anchored on ‘Building the economy, one business at a time,’ Project124, a carefully entrepreneurship development program has over the past four years positively impacted over 528 youths and their enterprises in Botswana.

Under its enterprising Executive Programme Manager, Goitsemang Khutsafalo, Launchit International is optimistic that the project is proactively generating sustainable jobs through projects that are adding value to various communities in Botswana.

After taking successful strides in Botswana in accelerating entrepreneurs towards better futures, the Launchit team and their stakeholders took a bigger step with the 2020 edition dubbed Project124 Season 5.0 by reaching out to participants from Zambia, Namibia, Eswatini and south Africa.

Hollard life, which has played a significant role in the success story of Project124 says its thrilled by positive outcome of the youth entrepreneurship development program.

“Its great to see lives improve and that is why Hollard ensures that everything we do just do that. We do so much more than just insurance – we make a world of difference in the lives of the people around us. The key insight behind the campaign is that the things we do and the ways we do them enable more people to create and secure a better future”, says Hollard Life Head of Distribution, Reason Nyamambi, adding, “Ultimately, we want to demonstrate Hollard’s determination to building an organisation with a head and a heart, a company that actively seeks non-financial returns alongside monetary success and to do things differently in order to make a difference. Through our words and actions, we aim to bring about positive systemic change and to enable better futures for all.”

Project124 2020 Highlights

The novel Covid-19 pandemic didn’t just affect every day life. It also changed how business is conducted across all industries. Notably, it has brought a slight tweak to how Project124 was done in 2020. Despite the many challenges on the entrepreneurship space, there are many other opportunities that Project124 is determined to capitalise in helping entrepreneurs to leverage for their growth, impact and profitability. With an Impact & Content Driven Program, Project124 through its partners and several technologies readily connected participants from all the participating countries. The following are few highlights of the 2020 Project124 Season 5.0 which was scheduled for 10th August - 31st October 2020.

The 2020 Project124 Entrepreneurship Conference

Due to the challenges and the opportunities posed by the novel Covid-19, the 2020 Project124 activities hosted in the 5 participating countries were both virtual and physical. These activities took into account and were fully compliant to the Cocid-19

Accelerating entrepreneurs towards better futures

regulations in each country. The objective was to reach more participants with impactful knowledge, experience and opportunities to accelerate their efforts towards bettering futures.

The 2020 Project124 Entrepreneurship Conference themed “Accelerating Entrepreneurs Towards Better Futures” was a virtual event. It was held from Stanbic Bank AcceleR8 Incubator. As proof of the support the project has been receiving from the Botswana government over the years, the conference was officiated by the Minister of Investment Trade and Investment (MIT) Honourable Peggy Serame.

The conference brought together seasoned entrepreneurs and mentors from different backgrounds from Botswana and South Africa. These entrepreneurs spoke on dedicated topics designed to carry participants in conversation about becoming better entrepreneurs with impact.

Mentorship

Another exciting component of the 2020 Project124 was that the participant had access of top-notch, seasoned and experienced mentors with combined experience of over 30 years in Business Leadership, Strategy and Profitability from all around the world. They included Hollard Managing Director Bilkiss Moorad and the head of Stanbic Bank AccelR8 incubator, Larona Makgoeng.

Training

The participants to the 2020 Project124 Africa went through rigorous training. The training which was physical as well as virtual focused on business related issued aimed at producing high growth entrepreneurs. The training is crafted to be 80% practical and 20% theory. All the activities during the training are designed to give the participants hands-on training and longlasting experiences.

Community outreach (Social Responsibility)

As a result of the effects of the Covid-19 many families found themselves in need. In view of such a predicament, the 2020 Project 124 participants with Hollard reached out to the less privileged in the community. Their support to the communities included with every day necessities like Mealie-meal, rice, soap, sugar and other commodities.

Graduation

After undergoing all the requisite steps of the project, the finalists were ready for graduation. The grand finale was held at Stanbic Bank AcceleR8 in Gaborone and officiated by the Deputy Chief of Missions of The US Embassy, Kali C. Jones. Participicants from the other countries joined in virtually.

The activities at the graduation included a keynote speech by an invited guest, a presentation by Hollard life, the Project124 Africa overview by Project 124 Executive Programme Manager, a panel discussion and pitches by the finalists.

Project124 2021

According to Project124 Executive Programmes Manager Goitsemang Khutsafalo, Launchit International will be taking the 2021 project124 to Kenya, Rwanda, Uganda, Ethiopia and South Sudan.

In Botswana, Khutsafalo says work is in progress to open the Project124 Student Entrepreneurship Clubs in universities across the country. The objectives of these Entrepreneurship Clubs are; to ignite and fire up students to attempt entrepreneurial activities and consider entrepreneurship as serious career option, link the practical nature of the course and the venture creation process with the concepts of the course, give real-time support to ventures so that they have the potential to become real ventures and orchestrate connects, events and sessions with experts and mentors to create a vibrant ecosystem on campus.

Further, Khutsafalo says Launchit has officially established the Project124 Alumni Club for the alumnus from all participating countries.

“This initiative is part of our effort to help participants to tap into the alumnus’ skills, and their enterprises in order to add more value to the business community in and around societies,” says Khutsafalo.

Reinette van der Merwe

Change is part of Leadership:

First Capital Bank CEO, Reinette van der Merwe

At the beginning of this year, First Capital Bank introduced its new Chief Executive Officer. Her name is Reinette van der Merwe, a versatile leader as well as a prominent personality in the banking industry in Botswana and across the borders. Recently, Strides had a brief conversation with this Global

Leadership award-winning Financial Services Titan.

Strides: In brief, tell us about yourself and what has your career journey been like to get to your current position?

Van der Merwe: I started out in Banking more than 26 years ago as an Executive Trainee. I spent the first year of my career in a branch, learning at grass roots how a bank works. I operated at international level reporting to Barclays PLC Chief Internal Auditor and worked across Africa. Barclays tasked me with developing of the other Chief Internal Auditors in Africa and gave me the opportunity to be responsible for the internal audit team across Africa. In 2013, I was appointed CEO of Barclays Bank of Botswana. Under my leadership the bank received a number of recognitions such as being named the best rated banking stock on the Botswana Stock Exchange. I received CELD’s Global Leadership Impact Award in 2019 and featured in Forbes Africa as a role model for women. Over the years I spent a lot of time on business turnarounds. I took low performing teams which I supported and developed to perform at the top of their abilities. I have been a mentor and coach to numerous business colleagues. As a Chartered Accountant (CA(SA)) and a holder of a Master of Commerce in Finance and Marketing, I have supported numerous colleagues in their academic and professional studies.

Strides: How have you managed change in your previous engagements and how will such experience help you meet the expectations your customers, the board, get the staff buy in to your agenda and achieve your goals at FCB?

Van der Merwe: Change is part of leadership and business which I always embrace. Although I have changed banks, roles and countries during my career so far, the golden thread is my extensive experience in the financial services sector and a track record of excellence in Botswana. Values of integrity and fairness, stewardship, innovation, collaboration, service excellence and citizenship are important to me. When one builds on a solid foundation the change is not so difficult. I am passionate about people empowerment and development of colleagues which I always infuse in my teams. My focus is to continue delivering service excellence to our customers. Customers and staff buy into a leader’s agenda when they can see it is for the benefit of all relevant stakeholders.

Strides: There has been an accelerated adaption of technological financial solutions in the past few years. Briefly, give us a picture of such services at FCB and what should the market expect from now going forward?

Van der Merwe: First Capital Bank is focused on providing banking convenience to all our customers. Technology is critical to that agenda. FMB Capital Holdings, the holding company of the bank, has invested significant amounts of money both at a group level and in Botswana to ensure that we are at the top of our game when it comes to our digital offering. We constantly look at ways of improving our offering which include internet banking, corporate and individual mobile app as well as other payment and service platforms. We will be rolling out other digital services which will be for the benefit of our customers across the various segments that we serve.

Strides: Looking at FCB’s performance in the years that it has been in operation in Botswana, do you have plans of increasing its footprint in the country? If so, what will be your strategy?

Van der Merwe: We always review our strategies regularly to see if our footprint is fit for purpose. We are looking at increasing our customer touch points and digital is a big piece of that strategy. We are mindful of the impact of Covid 19 and the need for both our customers and staff to be safe in all our branches, banking halls and service centres. Any decision that we make going forward therefore will be made within the context of Covid -19 in addition to other commercial considerations.

Strides: FCB has been increasing its footprint on the African continent, how are you positioned to facilitate ease of doing business for local enterprises in such nations as well as take advantage of the African Continental Free Trade Area (AFCTA)?

Van der Merwe: The group’s strategic objective is to secure a regional SADC footprint to leverage on increased cross border trade and commerce within this market and beyond. Cross border trade among countries in the region, both formal and informal, has traditionally been high and we expect this would grow further as communication and transport links between countries improve. Additionally, over the long term, economic growth in the SADC region can also be expected to increase integration of financial markets, especially banking. There is an increasing trend of mid/large corporates expanding their operations regionally. A common banking partner across the markets would facilitate their financial management.

Strides: Lastly, are there initiatives which you would like to introduce as FCB’s facilitation of financial inclusion, support for youth enterprises as well as enable female entrepreneurs?

Van der Merwe: There is a focus on SME’s and supporting female entrepreneurs as part of our strategy. We will unveil our strategy and the different initiatives in the works when the time is right.