22 Jul 2018

Vice President Slumber Tsogwane says government is focusing on providing an enabling environment to lure investors so as to diversify the economy .

Addressing kgotla meeting in his constituency of Boteti West recently, Mr Tsogwane said the move would only be possible under a business enabling environment, therefore government was focused on eliminating all stumbling blocks. 

Mr Tsogwane said low numbers of investors would not only affect economic diversification but would also impact negatively on the growth of industrialisation.

“Investors pay tax, grow the business industry, transfer skills to the locals and even create employment,” he said. 

Mr Tsogwane said that some of the policies in place would be reviewed in consultations with all relevant stakeholders including the community to lure investors. 

“Consultation is the primary consideration in President Masisi’s governance, and bureaucratic processes even though important in issuance and renewal of permits were some of the challenges killing investors’ confidence,” he said

He further stated that corruption was among the challenges in developing the business industry and diversifying the economy adding that government had joined with international and regional organisations in an effort to fight corruption and funding from terrorism and issues of human trafficking. 

 He said the country has acquired membership of Eastern, Southern Africa Anti Money Laundering Group (ESAAMLG) which was focused on fighting potential financing by terrorism bodies.

 “We are against financing or getting financed by terrorism aligned bodies,” he said.  

Further, Mr Tsogwane told residents that  a member nation linked with terrorism dealings would be black listed.

He said in the past community organisations such as trusts and foundations were not audited, therefore terrorist organisations were taking advantage of that loophole, channeling funds through them to terror acts.

 They were also used to distribute funds obtained through corrupt practices, he added. 

“As a nation, we must move forward and be at par with international standards and therefore, there must be law and order,” he said, adding an accountable public service would improve service delivery as well as providing an enabling environment to build investors’ confidence.  

Mr Tsogwane emphasised that “as a nation we cannot stay in isolation and therefore it is vital to enter into relationships with other nations.” ENDS