19 May 2019

Human Resource Development Council (HRDC) in partnership with Stanbic Bank will this week host a conference to assist towards transforming the country from a resource based to a knowledge-based economy.

The National Human Resource Development (NHRD) conference will be opened by the Vice President Mr Slumber Tsogwane tomorrow (May 21).

It entails sharing of best practices on how to achieve knowledge-based economy.

“The conference will provide a platform for information sharing between HRDC and stakeholders about best practices and innovations for the transformation of a knowledge economy,” HRDC chief executive officer, Dr Raphael Dingalo said during a press briefing on May 17.

He explained that the NHRD conference was part of the HRDC strategy as it was a blueprint that assisted in laying the foundation for developing human capital in the country.

“For this country to grow, particularly in areas of human capital development, there must be a partnership between parastatals, public sector, private sector, and civic organisations. That is why HRDC is very keen to partner with Stanbic Bank for the NHRD conference,” he said.

Dr Dingalo explained that the knowledge-based economy was dissected into two parts being knowledge-based society and the knowledge-based economy as they were interlinked.

“Knowledge-based society is characterised by business sophistication and innovation while the knowledge-based economy is raising the returns on investment by stimulating more efficient methods of production and new improved products and services,” he said.

He said a society based economy was capable of driving a knowledge-based economy, noting that the growth of the economy depended on the export-led economy.

He said should an export-led economy be achieved, it would help in coming up with products and services that would be sold to the international community to generate income for the country and employment creation.

Mr Dingalo said the World Bank had four pillars that defined knowledge economy, and they included skilled labour, institutional structures that provide incentives for entrepreneurs and use of knowledge, vibrant innovation landscape that includes the academic, private sector and civil society as well as ICT infrastructure and access.

“In order to be a knowledge-based economy, people need to anchor what they do in ICT, as all these are interconnected and interdependent. HRDC cannot, therefore, lead to the transformation without working with the stakeholders,” he said.

Stanbic Bank Botswana CEO Mr Samuel Minta said the bank was not about giving loans only, as they also strive to improve people’s lives.

He said their alignment with HRDC was strong as they were partnering to drive the national agenda. ENDS