MALKERNS – About E4.9 million has been generated as revenue by the 2006 winners of the Believe Begin Become Business Plan Competition.

 

This was confirmed by Technoserve Country Director Leslie Johnson who said last year July, they collected data from participants who competed in last year’s competition.

 

“We are pleased to announce that during the period between January and June 2007, these entrepreneurs generated US$700 000 (about E4.9 million) in revenues,” she said.

 

Johnson added that the participants also paid US$53 000 (E371 000) to 112 employees and secured US$210 000 (E1 470 000) in new finance.

 

She was speaking during the announcing and awarding of this year’s winner of the BPC held at House on Fire on Friday evening.

 

She said the sole aim of the competition was to alleviate poverty and create wealth through the establishment of successful and sustainable Small and Medium Enterprises (SMEs).

 

Johnson explained that to gauge whether it was necessary for them to have such a project, they scrutinised Swsziland’s social and economic indicators.

 

“When we see 40 percent of the population dependent on food aid, declines in population and life expectancy, mass unemployment, inflation approaching 10 percent, one of the lowest Gross Domestic Products (GDPs) in Africa and a severely constrained business start-up environment, we recognise a role for the competition,” she said.

 

Johnson added that these were the sole reasons Technoserve was here.