15 Nov 2017

Permanent Secretary in the Ministry of Investment, Trade and Industry, Ms Peggy Serame has urged the business community to use local currency in their prices.

Briefing the business community Tuesday, Ms Serame said it was unlawful for locally based companies to display South African prices on goods sold in Botswana, adding that businesses that continue to do so stand to lose their trading licenses.

She said she understood that magazines and newspapers were printed in South Africa, but other commodities should be priced in Pula and Thebe.

She also briefed them on the latest Ease of Doing Business rankings, which, despite Botswana having improved slightly in the overall score, fell in place as competitors improved at a much faster pace.

Ms Serame said Botswana was not doing well in areas of starting a business and electricity connection.

The Ease of Doing Business, undertaken by the World Bank, ranked Botswana at number 81 out of 190 countries.

It is ranked fourth in Sub -aharan Africa, behind Kenya, Rwanda and Mauritius.

Also, she said government continued to improve the business environment and as such, nine pieces of legislation were to be reviewed.

She said despite the existence of the National Business Council (NBC), government would meet directly with the business community at least twice a year.

Ms Serame also addressed the meeting on the Reservation Policy, under which 51 per cent of businesses reserved for Batswana should be in the hands of citizens.

However, she said that did not mean the existing businesses would be forced to sell their shares.

She further said non-citizen owned companies were still welcome to invest in the country. BOPA