28 Nov 2016

Minister of Investment Trade and Industry Mr Vincent Seretse has said industrialisation of the economy is one of the key components that will lead to Botswana’s development.
He said industrialization leads the way for diversification of the country’s economy to take place as well as infrastructural development and social upliftment.
He said this during an event tagged ‘Africa Industrialisation Day and Business Forum’ that was held to commemorate Africa Industrialisation Day at Anne Adams Park in Selebi Phikwe on Tuesday.
Like the rest of Africa commemorating Africa Industrilisation Day under the theme ‘Financing Industrialisation in Africa: Challenges and Winning Strategies’, the event in Botswana was held in Selebi Phikwe or SPEDU region to show that though the region was facing challenges after the closure of the BCL Mine, government is committed to economic development and diversification and sustainability of the region.
Minister Seretse said SPEDU region had been prioritised to be declared a Special Economic Zone to revitilise the economy of the area after the BCL Mine underwent provisional liquidation.
He said key action initiatives aimed at striving to diversify and upgrade the economy of the region included agricultural production and processing, tourism and related services as well as manufacturing.
He said at least 20 specific projects at an estimated cost of P1.8 billion had been planned to be implemented in the region over a period of two years with a target to create roughly 6 856 jobs.
However he indicated that the bulk of this financing would be contributed by the private sector.
He indicated that some of the projects earmarked include the revival of 450 hectares of land for agricultural produce at Talana Farms which would include producing beans and maize.
Further,  he explained as part of the plan that SPEDU region would have tourism components and Information Communication Technology projects.  
He went on to urge the business community and investors to tap on the business opportunities that would be presented by the Economic Revitilisation Strategy noting that the textile industry in Selebi Phikwe should be revitilised.
He highlighted that cooperatives development  remained critical in economic development in the region and the rest of the country.
He added that his ministry would ensure that concerted efforts were made to ensure that cooperatives remained functional, diversify their activities to become relevant and profitable for the benefit of their memberships.
Minister Seretse went on to touch on the Economic Stimulus Programme (ESP) noting that the initiative and SPEDU Region Revitilisation Strategy complemented each other in that both sought to fast track project implementation and development.
He also mentioned that SPEDU had been established to play a key role in revitilisation of the economy of the region and to ensure sustenance of livelihood even beyond the mining era in the region.
He went on to urge prospective investors and the business community in the region to align their plans to take advantage of the opportunities availed for growth and economic development.
Also in attendance were  the Minister of Infrastructure and Housing Development, Mr Nonofho Molefhi, who is MP for Selebi Phikwe East, Minister of Mineral Resources, Green Technology and Energy Security and also MP for Lobatse - Advocate Sadique Kebonang, Minister of Defence Justice and Security and also MP for Bobirwa Mr Shaw Kgathi, Minister of Land Management, Water and Sanitation Services Mr Prince Maele who is also MP for Lerala/Maunatlala, senior officials from SPEDU and government as well as parastatal organizations, residents and business community from Selebi Phikwe as well as Francistown and surrounding areas, was characterised by tour of stalls set up by various business entities at the event.ENDS