08 Oct 2017

Minister of Investment, Trade and Industry, Mr Vincent Seretse says government is committed to welcoming investors, promoting partnerships and accelerating private sector development.

Speaking at the launch of Nampak DivFood Botswana in Lobatse, he noted that it was through development of sustainable commercial ventures like Nampak DivFood Botswana that government was able to stimulate job creation, diversify economy and transform Botswana’s economic landscape.

He noted that as a government, Botswana expects to benefit from the expertise and experiences that Nampak DivFood brings into the country. He encouraged the company to expand their investment in Botswana, adding that government would be ready to facilitate their investments across any sectors of the economy.

Born out of the restructuring of the old Can Manufacturing, which previously faced risk of liquidation; Nampak, which is Africa’s leading diversified packaging manufacturer, will centralise its lid-making in Botswana.

Minister Seretse indicated that Nampak DivFood Botswana would benefit from a long term off-take arrangement with the parent company. He added that the newly launched plant in Lobatse would contribute to sustainable jobs and competitive enterprises in Botswana.

Furthermore, Mr Seretse stated that Nampak DivFood Botswana’s export of their end product would contribute significantly to the country’s export and tax revenue.

“Government’s priorities are not only to grow exports, but also to diversify exports away from diamonds,” he added.

The minister noted that government would continue to seek such partnerships, attract direct foreign investment and actively pursue a diversified private sector led economy.

He reiterated government’s commitment in creating a conducive environment for local and foreign investors that seek to do business in the country.

In addition, he said for Botswana to be competitive in the world economy, the private and public sectors must be able to engage in trade and offer high quality products and services and gain market share locally, regionally and globally.

For his part, Botswana Development Corporation (BDC) managing director, Mr Bashi Gaetsaloe explained that the partnership between BDC and Nampak DivFood came after the review of Can Manufacturers Botswana business model.

He indicated that due to challenges faced by Can Manufacturers Botswana, there was need for a turnaround strategy, which was achieved by introducing Nampak DivFood as a technical partner.

Mr Gaetsaloe said their mandate as BDC remains crucial and relevant in promoting and facilitating economic development of Botswana through funding of commercially viable enterprises by partnering with local and foreign investors.

He noted that their strategic objective was to partner with businesses including commercial banks.

He also said through their partnerships with banks like African Development Bank and Development Bank of Southern Africa, they were able to fund even large projects here at home.

He encouraged local businesses to be competitive not only locally but regionally so that they expand and grow their exports and generate returns. ENDS