19 Jun 2013

 The Assistant Minister of Trade and Industry Mr Keletso Rakhudu has called for businesses to network in order to expand their enterprises.

Speaking during Vendors Day held at BOBS headquarters in Gaborone on June 18, the minister said it was through networking that they learn from their peers and further look for opportunities to expand their businesses.

Mr Rakhudu said Vendors Day has resulted in good business to business exchange of valuable information and promoted strategic partnerships towards firms’ competitiveness and sustainability.

The assistant minister said government recognizes the role of the private sector hence is looking to it to participate in driving socio-economic agendas which include skills development and technology transfer, economic diversification, employment creation and poverty eradication.

“In this regard, government continues to facilitate provision for a conducive business environment to enable the industry to thrive and become sustainable in the medium to long term,” he said.

Mr Rakhudu called for local businesses to take advantage of a number of trade protocols Botswana has signed with a number of countries which include free movement of goods in the region and special preferential markets through Africa Growth Opportunity Act (AGOA), the EU and Zimbabwe.

However, he said, a number of companies face challenges amongst them lack of quality control certification and required international accreditation or certification and working capital.

“It is events such as Vendors Day that would assist you to better position your companies for further markets especially the export markets,” he said.

Mr Rakhudu said the Economic Diversification Drive (EDD) strategy has prioritized most sectors as key drives of economic development and diversification.

“Through EDD government strives to reduce the high bill on imported commodities through facilitating support to local manufacturing industries and service providers to expand, become competitive and sustainable in the medium to long term,” he said.

The assistant minister said Africa was becoming a preferred destination of Foreign Direct Investment (FDI) and called on local firms to position themselves for new entrants into the market or participate in joint ventures.

He paid tribute to Standard Chartered and De Beers for sponsoring the event, noting that following a similar event last year, a number of entrepreneurs benefited from the De Beers procurement programme. ENDS