02 Jun 2019

The private sector has been urged to claim its role in the transformation of Botswana to a high-income economy in line with Vision 2036.

Acting Minister of Investment, Trade and Industry, Mr Karabo Gare echoed these sentiments when officiating during the 25th Business Botswana Northern Trade Fair business networking forum.

He noted that the private sector was seen as the driver of sustainable and inclusive economic growth.

He asserted that President Dr Mokgweetsi Masisi focused his transformation agenda in the attainment of a knowledge economy that would result in job creation, especially for the youth.

Mr Gare highlighted that the theme of the forum: The role that state-owned enterprises play in the economy; finding solutions towards economic growth, was in-line with the mandate of his ministry.

The ministry’s efforts, he explained, were geared towards economic diversification, industry development, job creation, and poverty eradication.

He further added that the government had developed institutions like the Botswana Development Corporation, Local Enterprise Authority and Citizen Entrepreneurial Development Agency to assist the private sector to achieve this mandate.

“You will note that the private sector is the target beneficiary in all these efforts,” he argued.

Consequently, he explained that as a way of promoting the growth and participation of the private sector in the economy, the government adopted the Doing Business Reforms Road Map in 2015 to ease the doing business environment.

The acting minister noted that the ministry was currently reviewing the Trade and Industrial Development Acts to make starting a business easy.

Furthermore, he added that since the adoption of the Doing Business Reforms Road Map, they had completed 50 per cent of the reforms in the road map, while the rest were at different stages of implementation.

Mr Gare informed his audience that the Online Business Search and Registration (OBSR) would be going live on June 03,2019.

In addition to creating a conducive business environment, he said that they also promote investments and develop sustainable industries and trade.

Mr Gare highlighted that they wanted a more coordinated approach towards Small Micro and Medium Enterprises development, investment promotion, and export development.

In an effort to create a sustainable and innovative environment, he asserted that they have prioritised turning LEA facilities into fully fledged Enterprise Development Centre for this financial year.

In addition, he explained that CEDA had set aside P5 million that to be used for pre-project funding to support business start-ups with high impact and to ensure their survival.

Furthermore, he said that they were collaborating with the private sector in the development of SMMEs, such as Barclays, FNB and Stanbic Bank with programmes focused on the development of their productive capacity.

For his part, Botswana Investment Trade Centre(BITC), director of business services, Mr Gaorekwe Gaorekwe said they were involved in investment and trade promotion, domestic expansion, business facilitation and export development.

He noted that there were  opportunities in the leather and Soda Ash industry which local companies could take advantage of and export.

Mr Gaorekwe said they were working through strategic partnerships and collaborations.

The local economy, he added, imported a lot of things which could be manufactured locally.

Therefore, he noted that BITC had a mandate to capacitate local firms that were ready to export and also assist in finding markets for them.

Consequently, he said they also partner Batswana investors with potential international partners.

Special Economic Zones Authority (SEZA) deputy CEO investor attraction & facilitation, Mr Barry Condron explained that they were working with BITC to attract investors to special economic zones.

He explained that they had started the process of contacting international companies so that they could get interested in SEZA.

In addition, he noted that tthere was a lot of potential in the Pandamatenga area due to the construction of the Kazungula Bridge.

Also, he said special economic zone would offer incentives such as lower corporate tax to investors who set up in these zones.

Business Botswana vice president North, Mr Humphrey Nawa explained that they remained committed to working with both government and SMMEs to link the private sector with wealth creation.

However, he decried the fact that the private sector was still largely government driven and noted that they would continue to advocate for the privatisation of state-owned enterprises, especially those that operate in the private sector space.

“If parastatals are allowed to continue operating in the private sector space, the private sector will remain stagnant,” he argued.

As the private sector, Mr Nawa said that they would continue to engage government in economic development and policy formulation.

Through the National Business Conference, Mr Nawa highlighted that Business Botswana was collaborating with the government to enable the attainment of high income status.

He also assured Business Botswana members that they would continue to play a role in policy direction. ENDS