KBL returns Kickstart funding initiative
Kgalagadi Breweries Limited will start inviting applications for its revamped Kickstart initiative which funds youth aged between 18 and 30 years, The Midweek Sun has learnt. Today, the company which produces soft drinks and clear beer was expected to take the media on a tour of some of kickstart beneficiaries in Gaborone. Minister of Investment, Trade and Industry, Bogolo Kenewendo is expected to officially launch the revised initiative this afternoon at the KBL’s Broadhurst offices. The program was suspended a few years ago due to lack of funds, among other reasons. Before the program was put on ice, it had benefited over 70 small medium enterprises with funding, mentoring and market access assistance. Speaking to the press last year, KBL Managing Director, Beauchamp, said P1, 5 million has been set aside for this program on annual basis. “We plan to invest in 15 new businesses every year,” he said at a press briefing which also announced a price reduction for its alcohol brands such as St Louis, Castel Lite and Black Label. Successful applicants will receive about P200, 000 grants to execute their business ideas. Beauchamp stated that they have been able to reintroduce Kickstart from ‘freed capital’ as a result of the recent reduction in Alcohol Levy from 55 percent to 35 percent by the President Mokgweetsi Masisi regime.