08 Sep 2022

The successful completion of  Gaborone’s The Fields Mall is testament to the key role played by local consortiums in driving the economy, President Dr Mokgweetsi Masisi has said.

Officially opening the P450 million arcade on Wednesday, Dr Masisi said the consortium behind the project exemplified  Batswana’s ability to work together for a common goal. 

He therefore encouraged all businesses to look to the mall’s model to empower citizens in business without fronting or tokenism.

 “I am immensely gratified by the growth trajectory of this business consortium, as it demonstrates the power of vision, cooperation, strategic thinking and partnership, mutual trust, collective determination and perseverance to achieve shared success in wealth creation,” he said.

The mall’s development dates back to the 1980s when local entrepreneurs formed a consortium called Smart Partnership Enterprises with the aim of establishing a major commercial retail development in Gaborone’s Central Business District (CBD).

Premised on how the project started, President Masisi said its completion was the material expression of the Setswana culture’s ‘letsema’ cooperative principle.

 In a commercial sense, Dr Masisi explained, it encompassed elements of both share and venture capital, which were mechanisms for financing mega projects.

“The kind of ‘letsema’ here is not simply the aggregation of labour to carry out a task on a touch and go mode, but it involves a lot of planning and strategising so that the benefits that accrue are durable and sustainable,” said the President.

 President Masisi said it also demonstrated that Batswana  were capable of being financially savvy.

 Harnessing indigenous epithets augured well for the realisation of mindset change as espoused in the Reset Agenda, he said.

The President said the shopping complex would provide Batswana in and around Gaborone with a convenient, world-class retail centre to cater for their needs.

He noted that some 700 people were employed during the construction phase of the project and when fully operational, it would employ up to 8 000 Batswana.

President Masisi declared government’s determination to ensure that the retail shelves would be dominated by locally produced goods.

 He pleaded with the local business community to come to the party by venturing into manufacturing.  

“It is our considered view as government that manufacturing will create more jobs for our youth and venturing into manufacturing will also position our country to take advantage of the various market access we have secured especially through the  African  Continental  Free Trade Area,” he said. ends