For the third time, the Burundi Business Incubator (BBIN) has organized Global Entrepreneurship Week. This year's theme is: "Young entrepreneurs: what needs, what support?" During the margins of this event, a question was posed to the panel. "What are the challenges faced by young people who want to undertake?"

Challenges upstream and downstream

Alida Mugisha, support officer for reform services and human capital development, says two categories of challenges must be raised. Challenges upstream and downstream. For the first category, these are challenges that touch on entrepreneurial spirit. Many young people are characterized by either a lack of interest or a lack of vision. "I will finish my studies and I will look for a job," they say.

Downstream challenges concern those who have already started their activity. This second category is composed of at least three levels. Lack of knowledge, financing challenges as well as organizational challenges.

Potential solutions exist

Apart from the Ministry of Youth, a youth forum has been established. This forum is even represented at parliament level to carry young people's grievances further. There is also the Investment Promotion Agency (API) which has already launched itself to respond to upstream challenges. The API organizes awareness campaigns in schools and universities to foster entrepreneurial spirit by showing young people why they should launch as soon as possible.

Regarding the financing problem, there is the creation of the Youth Investment Bank (BIJE). Unlike other banks that apply double-digit interest rates, the BIJE proposes an interest rate not exceeding 7%.

Also read: The challenge of youth entrepreneurship: what to do?

The creation of the Impulsion, Guarantee and Accompaniment Fund (FIGA) will come to find solutions to problems related to mortgages or guarantees required by commercial banks by standing as guarantor for credits that will have been contracted by young people at the BIJE.

At the celebration of Global Entrepreneurship Week, an exhibition is underway on Independence Boulevard until November 19. This week will be closed by the final of the business plan competition, Shika Award.