12 Oct 2020

Assistant Minister of Investment, Trade and Industry, Mr Molebatsi Molebatsi, says implementation of investment incentives is expected to boost SPEDU facilitated projects and attract more investors to Selebi Phikwe.

The assistant minister, who was speaking to the business community in Selebi Phikwe on Thursday, said government was committed to empowering manufacturers and producers operating in SPEDU region.

These incentives included a 30 per cent government offtake in locally produced goods, five per cent tax for businesses setting up in Selebi Phikwe and a 10 per cent tax after the project took off, he said.

Mr Molebatsi said introduction of offtake certificates was a step towards implementation of the introduced incentives, urging the business community to apply for these offtake certificates.

He implored them to look beyond the BCL mine and start a new beginning, adding that government formed SPEDU after taking into cognizance the fact that at some point the BCL mine would stop operating.

SPEDU’s director of strategic projects, Mr Jazenga Uezesa, commended government for taking the initiative to implement incentives introduced for SPEDU facilitated businesses, adding that it had been challenging for the business community to tap into these incentives.

He said implementation of the SPEDU Investment Incentives was a way of revitalizing SPEDU region. Further, he added that it should be mandatory that all tenders reserved 30 per cent for SPEDU companies.

A total of 30 SPEDU facilitated projects, Mr Uezesa said were operating with a total employment of 1940 and a total investment of P477million.

SPEDU was formed with the aim to promote investment in viable businesses, facilitate land allocation for investors and facilitate market access for projects, explained Mr Uezesa.

Furthermore, he said the COVID-19 pandemic had brought in some challenges for the region, but at the same time was a wakeup call for further engagements in revitalizing the SPEDU region.

Mr Uezesa noted that mobilization of the informal sector was very critical hence SPEDU intended to mobilize and reach out to small, medium and micro enterprises (SMMEs) in the region.

For his part Selebi Phikwe mayor, Mr Lucas Modimana, said hard times had hit the town and as such it was important for those in business to persevere in order to avoid shutting down.

He urged the business community to look for export market to boost their businesses.

Mr Modimana said government was working round the clock to create a conducive business ecosystem.

He challenged the business community to take care of their employees as well. Ends