Finance and risk management convention vital for governments’ introspection

Tuesday, 21 June 2016 12:13   |   Written by Nicholas Mokwena
Finance and risk management  convention vital for governments’ introspection

The first annual Botswana’s Convention on Finance and Risk Management is expected to attract delegates from five southern African countries, Botswana, Lesotho, South Africa, Namibia and Zimbabwe.

The convention is organised by a group of four young Batswana. Chief Organiser, Edwin Afitile said the convention scheduled for later this year in August is aimed at imparting financial knowledge and risk management.According to Afitile after the convention that will be held under the theme, ‘Economic Evolution; Adapt or Die,’ participating countries would be able to build the principles and methodology for what is known as real world rigour in decision-making and to codify a clear-cut way to approach risk.

He said both finance and risk management affects everything that people do from personal decisions to national strategy. Afitile, an Actuarial Analyst by profession said governments of the five countries would be drilled by professionals on how to deal with budget deficits and to improve economies without necessarily having to increase taxes among other things. “Governments will get to know how to align their social programmes to their citizens’ needs. It is a known phenomenon in the southern region that governments’ programmes tailor made to uplift the lives of their citizens often fail to reach the intended goals.

A case in point is Botswana, where some programmes often fail to meet the intended goal. This is as a result of lack of proper engagement of experts before the programmes are crafted. The convention will therefore afford government officials from the five countries an opportunity to interact with professionals to gain knowledge on the best methods to be applied when coming up with such initiatives,” he said.

Afitile said the objective of the convention is also to influence decision making among all stakeholders by showcasing the latest trends and innovation in Finance and Risk Management applied to the case of Botswana. During the convention, there would be a session for entrepreneurs where they will learn how best they can make their businesses sustainable.

According to Afitile this would be good for Botswana entrepreneurs especially the youth since some of them run struggling businesses and others have even closed down.“This is meant to bridge the gap between the professionals and ordinary people. Professionals would be interacting with ordinary people, entrepreneurs and government officials. The convention has a multi-disciplinary focus with the single aim of bringing together people from different backgrounds who otherwise may never have the opportunity to interact and share ideas.”

He explained that the risk management is a line of defense that ensures that strategies implemented in the workplace are marshalled with courage and sobriety knowing where things can go wrong and how to react. He noted that the appellation ‘adapt or die’ is synonymous with irresistible change. Individuals and institutions that get ahead are those that position themselves well to harness change,” said Afitile.