Normally the following projects are NOT funded;
-Bar/ Bottle Store/Liquor Restaurant/ any other alcohol related projects. Cash Loan
-Public Transport (i.e. taxis, combis, and buses)
-Any other business that is not allowed by the laws of Botswana.
The applicant should possess relevant knowledge and or experience to run the projects. In the event where the foregoing has not been satisfied then there should be provision for training.
Applicants who consider themselves technically competent but have not gone through any formal training will be required to take a competency test.
The applicant must demonstrate willingness to be guided and consult with relevant experts in organizing his/ her business idea.
Youth Industries – Any income-generating project initiated and implemented by a group of five (5) to ten (10) young people who have pooled their knowledge and skills to embark on mass production.
Fund – Financial assistance provided to the youth beneficiaries as a combination of a 50% grant and a 50% interest-free loan.
Grant – A portion of the fund that is not repayable and whose continued enjoyment will be dependent on strict adherence to stipulated terms and conditions of the offer.
Loan – A portion of the fund that is repayable without any interest. Interest only accrues in the event of payment default at the rate of 5% per month on the amount outstanding.
Assets – Items acquired for long-term use in the project (e.g. machinery, equipment, tools, furniture, breeding stock, transport vessels etc.).
Working capital – Items required to support the business’ daily operations (e.g. raw materials, office supplies, stationery, supplementary feed, fertilizers, pesticides, rent, wages/ salaries, water, electricity, fuel & lubricants, transport hire cost, etc.).
Project cost – The amount required to acquire the project’s assets and adequately cover the working capital requirements.