Kgalagadi Breweries Limited (KBL) – in an endeavour to boost the Small Medium, and Micro Enterprises (SMMEs) – has re-launched the annual KickStart youth development entrepreneurial programme.
The KickStart re-launch follows the remarks made by former KBL Managing Director Renaud Beauchamp in December. He told the media at the time that the company will inject a whopping P60 million in 2019 for expansion and Corporate Social Investment (CSR) projects with KickStart to be revived.
KickStart – as part of KBL’s Corporate Social Responsibility (CSR) was officially started in 2004 – is aimed at instilling a culture of entrepreneurship among young people who are already in business or those aspiring to be entrepreneurs. Moreover, the programme entails promoting business awareness through training, providing grants as start-up capital and providing mentorship and assistance during the setting up phase of the business
Launching the programme on Wednesday, the Minister of Investment, Trade and Industry (MITI), Bogolo Kenewendo hailed KBL for supporting SMMEs development by investing on the sector.
Kenewendo said the initiative will help to grow businesses owned by young people as this will also help in addressing the soaring youth unemployment rate. She said robust diversification of the economy is possible through the initiatives such as KickStart which empower the SMMEs that are an integral part of the economy and GDP contribution.
A total of P2.5 million is invested in to the 2019 year programme with the provision of 100% grants ranging from P10 000 to P200 000 as start-up capital or for expansion of existing businesses. Furthermore, training on business skills will be rendered towards 50 potential entrepreneurs. The 15 funded beneficiaries will also be offered coaching and mentorship to be done for a period of 12 months so as to ensure sustainability.
KBL's Corporate Affairs Manager Masegonyana Madisa expressed gratitude for the relaunch of the KickStart programme after its termination in 2015 due to budgetary constraints. He said the programme is designed to change the lives of young people in business or those who aspire to start business but lack financial assistance to proceed with their ideas.
Madisa said funding will be channelled into project capitalisation, mentorship, training and ensuring the successful delivery of the project. The programme funding model is that 60 percent of the funds will be reserved for the female entrepreneurs while 40 percent is for the male counterparts. KBL also launched the KickStart website which interested youth entrepreneurs can use to process their applications online.