08 Feb 2016

University of Botswana economist, Dr Jonah Tlhalefang, says  it is critical to investi on sectors that could stimulate the economy. Dr Tlhalefang said this during a 2016/2017 budget review meeting organised by Stanbic Bank and Business Botswana in Selebi Phikwe.

He said more resources should be directed to such sectors to bring in income to the economy and the sectors included tourism and construction. He said tourism had potential growth rate of 2.96 per cent.
For instance, if P1 million could be invested in tourism especially in the retail and trading sector, the output could rise up to P2.96 million, which would a clear indication that tourism had the potential to stimulate the economy.

He also said five key areas in the economy that included infrastructure development, creation of job opportunities, strengthening human capital and enhancing national security as well as strengthening local government should be addressed, and according to proposed budget.

Meanwhile, vice chairman of Business Botswana northern region, Mr Palalani Moitlhobogi, said the budget should expand tfunds to stimulate the local market. He stated that Business Botswana acknowledged the introduction of the Special Economic Zones in order to improve economic growth and job creation.

However, he said details on steps to be taken to improve implementation of Special Economic Zones needed to be provided. He said Business Botswana expected the implementation of the SEZ to be fast tracked under the Economic Stimulus programme.

Mr Palalani also indicated that Business Botswana appreciated the ongoing Botswana Telecommunications Corporation Limited- Initial Public Offering, noting that it is expected to empower citizens. For his part, Mr Crag Granville- Stanbic Bank board chairman and also ACCPRO accountants managing director said people needed to be productive and to do work efficiently.

He also touched on the issue of having a friendly business environment where it would not be difficult to give out licenses and permits to potential businesses and investors. Chief executive officer of SPEDU, Dr Mokubung Mokubung indicated that national budget was a transitional budget from NDP 10 to NDP 11 and Selebi Phikwe is in transition to economic growth.

He said SPEDU had flagship projects aimed at growing the economy of the region.  He said dam tourism was an area that his organisation would be looking into around the Letsibogo and Dikgatlhong dams.

He said SPEDU was pursuing a feasibility study on projects that could be done in the vicinity of dams to attract tourists. He said the tourism facilities, which included lodges, hotels and other tourism resorts would have great input in attracting people and investors to the region.

He also noted that SPEDU intended to setup shopping malls in Selebi Phikwe that would lure people to the region.  He said they  were liaising with the Ministry of Lands and Housing to allocate them some land for the shopping complexes.
Dr Mukubung also stated that SPEDU had medical park area to try to get a private hospital to be set up in Selebi Phikwe.

He said the discussion around the issue was to make it a specialised area for dialysis because the kidney dialysis was done in South Africa and the idea to have such a hospital will be an attracting ENDS