07 Feb 2023

Government will continue to facilitate an enabling environment for the private sector to explore value chain opportunities in strategic sectors.

Delivering the 2023 budget speech on Monday, the Minister of Finance Ms Peggy Serame proposed a development budget of P540.89 million which will go towards exploiting the value chain development in sectors such as tourism, minerals, energy, manufacturing and agriculture

Ms Serame said as part of the priority area under the value chain development, the approved Minerals Policy would enhance the domestic economic benefit from minerals development through beneficiation and local value-addition activities.

“Consequently, government is in the process of reviewing the key mining legislation, the Mines and Mineral Act and the proposed amendments will include provisions for local beneficiation of minerals and meeting local needs for mining products,” she said.

She also said in an effort to develop the sunflower value chain, the Special Economic Zones Authority together with the Ministry of Agriculture were identifying gaps in the market and engaging with local farmers to ensure adequate supplies of raw materials and investment in production facilities.

The developments, she observed, would enable the country to reduce imports of cooking oil and create indirect business and employment opportunities for Batswana.

In addition, the favourable market opportunities presented by the African Continental Free Trade Area, SADC and SACU free trade engagements have the potential to develop and grow the Botswana economy into an export-led one through exploitation of value chains in the region, she said.

Ms Serame said the SACU Strategic Plan had priority sectors for the development of value chains which included leather and leather products, meat and meat products fruits and vegetables as well as textile and clothing. ends