Restless Development participated in a Youth Entrepreneurship seminar held on March 21, 2014 at the Embassy of Sweden in Dar es Salaam. The aim of the seminar was to highlight and discuss the challenges and opportunities facing young entrepreneurs and to feed recommendations into the Big-Result-Now initiative by the government of Tanzania.
The seminar convened on the occasion of the visit of Her Royal Highness Crown Princess Victoria and the Minister for Trade Dr. Ewa Björling from the Swedish government. The panel featured our own Livelihoods and Entrepreneurship Assistant Coordinator Mr. Lawrence Ambokile and other entrepreneurs including Emelda Mwamanga from BANG! magazine; Fredrik Alfredsson from Switch Responsible Ventures; Masoud Salim from Zanzibar Association for Youth Education and Empowerment and Khadija Mwanamboka from Vitu vya Khadija/Mitindo House.
During the seminar, participants mentioned different challenges facing young entrepreneurs including lack of entrepreneurship culture amongst youth, lack of skills and work experience and also difficulties in accessing startup capital. They provided suggestions for those challenges by urging the government and other stakeholders to encourage entrepreneurship, education and take actions to support the public-private partnerships in addressing the issue.
“We urge the government to fast-track the introduction of a Youth Development Bank, which could provide loan schemes specifically to support young entrepreneurs and also offer incentives such as grace periods on loans. The government should also support the use of informal Youth Entrepreneurship Groups (YEGs) as collateral, which has proved to be effective for the informal youth groups we support. ” said Lawrence Ambokile, Restless Development.
All the suggestions and opinions were presented in front of the Her Royal Highness Crown Princess from Sweden and submitted to Mr. Omari Issa, the Chief Executive Officer of the Tanzanian President’s Big Result Now (BRN) – an initiative that aims at adopting new methods of working as part of the Tanzania government’s effort to transition the country from low to middle-income economy. Find out more about the BRN on: www.pmoralg.go.tz/quick-menu/brn
Find out more about our work on Young People and Enterprises and our approaches by clicking this link: restlessdevelopment.org/tanzania-our-work