26 May 2019

In an effort to resuscitate and diversify the economy of Selebi Phikwe and surrounding villages, Selebi Phikwe Economic Development Unit (SPEDU) is involved with 54 companies that are expected to invest P2.1bn in the region.

Addressing the ongoing full council meeting, Selebi Phikwe Town Council (SPTC) mayor, Mr Molosiwa Molosiwa said the companies were expected to invest approximately P2.1bn of which P78m would be financed through CEDA.

He stated that as at May 1, a total of 569 jobs were created in the SPEDU region against a three-year Economic Revitalisation Strategy target of 6 656 jobs.

Mr Molosiwa said five of the companies were offered Botswana Development Corporation shells.

He said SPEDU would continue to explore different economic avenues in the sectors of tourism-related services, manufacturing and agri-business services.

The district and country, he said, had been trying to come up with strategies and projects to revitalise the economy of Selebi Phikwe.

“I encourage you all to continue working vigorously throughout the year as we continue with our collective efforts to revive the economy of Selebi Phikwe,” he said.

Regarding the construction of the Platjaan Bridge over Limpopo River between Botswana and South Africa, he said the project was progressing well and currently at 83 per cent.

He said the completion date for the construction of the bridge was August.

He said SPEDU continued to engage with the Ministry of Finance and Economic Development through the Ministry of Investment, Trade and Industry for the financing of the construction of the road linking Platjaan Border Post to Lekkerport Junction.

On the financials, Mr Molosiwa highlighted that the council’s budget proposal amounted to P135.9m and was to be financed by overall estimated Revenue Support Grant constituting 89 per cent of the total income.

Additionally, he said the council’s income from own source amounted to P14.5m, constituting 11 per cent of the total income. The main sources of own funding for the council are property rates at 53 per cent, staff housing at 13 per cent and service levy at 7.5 per cent.

The mayor raised a concern that collection of revenue from own sources remained a challenge because of BCL mine closure.

He said the total arrears for rates stood at P19.4m, while estimated income from service levy was about a million.

He called on the council to come up with initiatives to intensify revenue collection to enable it to undertake developments. ENDS