Tokafala: Building Strong Businesses in Botswana
As diamond reserves in Botswana dwindle, the country's entrepreneurs are playing an increasingly leading role in creating new jobs and diversifying the economy. Tokafala, an enterprise development program, is helping entrepreneurs develop the business, financial management and marketing skills they need to build successful and sustainable businesses.
In partnership with Anglo American, TechnoServe is implementing an enterprise development program called Tokafala, which focuses on fostering the growth of small and growing businesses in Botswana by helping them to overcome the challenges that many entrepreneurs face in the country. The four-year program has supported over 230 micro, small and medium enterprises (SMMEs), impacting over 2,000 jobs. From 2014 to 2016, Tokafala provided advisory services and mentorship to more than 215 SMMEs, helping entrepreneurs develop the business, financial management and marketing skills they need to build successful and sustainable businesses.
The project has successfully established a business hub and developed strong partnerships with leading organizations that could provide advisory services to local SMMEs, such as the Chamber of Mines’ Business Development Forum, as well as Debswana’s supply chain and a number of commercial banks. The program generated almost $2.5 million in financial benefits for local businesspeople, and helped to mobilize an additional $2.4 in formal financing.