12 Jun 2017

In an effort to boost the economy through private sector participation, over 100 Small Medium, and Micro Enterprises (SMMES) have benefitted from the private sector development programme.

Minister of Investment, Trade and Industry, Mr Vincent Seretse said this during the closing ceremony of the programme on June 9.

Mr Seretse noted that the programme was launched in 2013 as a joint collaboration between Business Botswana and the ministry and that it was aligned to the government objective of Economic Diversification Drive (EDD) targeted at promoting enterprise development.

He noted that the programme was on point to tackle challenges faced by entrepreneurs and provided interventions to open more opportunities for economic growth and prosperity for Batswana hence employment creation.

He said the target was on four priority areas which include Information Communications Technology, tourism, construction and public works.

Furthermore, Mr Seretse appreciated that the programme had managed to create a web portal and develop a market intelligence information system which would enhance collaboration between institutions and link local business with international markets.

This, he said, would complement government’s efforts of opening market access for local products.

In addition, the minister said the market intelligence system would also facilitate easier information dissemination to the business community on Southern African Development Community Economic partnership agreements and trade protocols for them to exploit opportunities from the agreements.

He thanked the European Union (EU) for financing the programme with 2.3 million Euros which he said would go a long way in assisting with development of SMMEs.

For his part, EU head of cooperation, Mr Herman Spitz said in 2013 they signed a contribution agreement with the centre for the development of enterprise for implementation of the programme with the key focus being on development of SMMEs and supporting 30 women entrepreneurs.

He said the programme sought to strengthen capacity and competitiveness of SMMEs by imparting business management skills through mentorship and coaching by experts.

He noted that over the past three years more than 90 per cent of the SMMEs were still surviving and that some had increased their profit turn over by 50 per cent.

Business Botswana chief executive officer, Dr Racious Moatshe said some of the SMMEs said they needed money, but after they were given skills they realised that it was not money that they needed.

“They needed to overhaul their operations, manage their human resources well, learn how to keep accounts and skills to manage their businesses well,” he noted. ENDS