By Mooketsi Benedict
Founding Partner, Pulaspace
By embracing micro-investing across sectors, LLDCs can accelerate progress toward sustainable development, economic growth, and social well-being
I am from Botswana, in Southern Africa, a region rich in natural resources and cultural diversity. While it faces numerous challenges, from economic disparities to environmental concerns, the region also has opportunities to harness innovation as a powerful engine for unlocking prosperity. My experiences within the innovation ecosystem underscore the potential of innovation to transform lives and communities. It also shows the limitations innovation still experiences in Botswana. We founded Pulaspace as a micro investing platform to connect startups with investors.
One of the most promising areas for innovation in Botswana is agriculture.
At Pulaspace, we believe that underserved Agritech founders building solutions for difficult problems in growing markets deserve venture funding and support. One of such startups we support is Brastorne which has developed a USSD mobile application that connects rural farmers with information, tools for better farming practices, and market access to sell their produce.
By supporting such technologies, we can enable farmers to increase yields, reduce waste, and adapt to the impacts of climate change, ensuring food security and economic stability. This is critical. With as many as 37% of the population dependent on farming for their livelihoods, innovations in Agritech, can be revolutionary.
Despite progress in recent years, a significant portion of the population in Botswana remains unbanked or underbanked.
Financial inclusion is a critical area for innovation. Fintech innovations – like Pulaspace – aim to bridge this gap by providing affordable and accessible financial services to those who need them most. These innovations empower individuals and small businesses, enabling them to participate more fully in the economy and build financial resilience.
Through Pulaspace, we offer investment readiness training, market entry and business expansion support, and investor-matching services to Fintech startups in Botswana and the Southern Africa region. Some of these include Ipachi Capital, Unipay, and Tribease.
Equipping the next generation with the skills needed for the future economy.
Botswana is a youthful country, with an estimated 32.7 per cent aged below 15 years. Innovation in education and skills development is essential for unlocking Botswana’s “demographic dividend”. At Pulaspace, we have initiated a coding programme for students at secondary schools in Botswana starting with Gaborone and Francistown. In partnership with some private companies, we have delivered a pilot in two schools with graduation ceremonies for the first cohort scheduled for mid-August 2024. By investing in digital skills development, we can create the future a workforce that can drive innovation and contribute to sustainable growth.
How can government help? By fostering an enabling environment for innovation.
However, to fully realize the benefits of innovation, some challenges must be addressed. These include inadequate infrastructure, limited access to capital, and regulatory barriers that can stifle creativity and entrepreneurship. Governments, in collaboration with the private sector and international partners, must work to create an enabling environment for innovation. This involves implementing policies that support research and development, protect intellectual property, and encourage investment in innovative ventures. The private sector especially must also step up by providing more than just cash funding but also the expertise, networks, and resources relevant to startup growth.
Innovation is the key to unlocking prosperity in Botswana.
Through Pulaspace, I have seen firsthand what has been needed to support innovative startups with funding, investment readiness training, and market entry support. I believe that by embracing new ideas and technologies across sectors, Botswana can overcome its challenges and build a more inclusive, resilient, and prosperous future.
Mooketsi Benedict is the Founding Partner, of Pulaspace which comprises Ngwana Africa startup incubator, Spaghetti Value Venture Studio, and VC fund Pulaspace Capital. He has spent over 10 years supporting startups and building the innovation ecosystem in Botswana and Southern Africa.
