29 Jul 2020

Selebi Phikwe Economic Diversification Unit (SPEDU) facilitates investors by administering both financial and non-financial incentives.

Responding to questions in Parliament, Assistant Minister of Investment Trade and Industry, Mr Karabo Gare said potential and existing investors access the incentives through the Investment Promotion Desk on an expressed need basis, whereupon negotiations with relevant stakeholders ensue if necessary.

He said while SPEDU created a conducive environment for investors, the obligation of the investor was pertinent in running the business and consulting the agency to ensure effective intervention.

The incentives supported investors to mitigate against high input costs through collaboration with relevant stakeholders.

This includes ensuring availability of the necessary infrastructure such as land and information technology, negotiating concessionary rates of land leases, water and electricity tariffs.

In this regard, he said a total of nine companies benefitted from reduced factory shells rentals, while others had benefitted from affordable water and electricity tariffs.

Furthermore, he said the agency continued to support community projects in the SPEDU Region, engaging various stakeholders through different fora creating awareness about business opportunities and incentives.

Mr Gare said SPEDU in collaboration with other stakeholders was embarking on land servicing project in the Selebi Phikwe industrial area.

He said the project was at a tendering stage and included provision of the broadband internet infrastructure of optic fiber cables.

He said a total of 13 companies were anticipated to benefit from the project and would continue to be facilitated to access other incentives such as concessionary tax rates and duty-free importation of machinery and equipment for manufacturing projects.

Mr Gare also said SPEDU would continue to engage related stakeholders to facilitate reduction in the cost of doing business in the region.Mmadinare MP, Mr Molebatsi Molebatsi had asked whether any steps had been taken to facilitate economic growth in the SPEDU region in relation to promotion of Small, Medium and Micro Enterprises given the presence of Information Technology (IT) with unlimited bandwidth brought about by fibre optic cables in the area. ENDS