16 Oct 2023

An act to encourage targeted sectors of the community to actively participate in driving and diversifying the economy will never be realised without a change in mindset, says Ms Zindzi Letsididi.

Ms Letsididi, the Business Development and Sustainability Director at the Neo Hub shared her thoughts during a panel discussion on why and how businesses and corporates should think and work differently to achieve the objectives of the Citizen Economic Empowerment Policy (CEEP) in Gaborone on Friday.

The panel discussion was part of the #PUSHABW Campaign during the three-day EU Botswana Business Forum and Global Expo.

She said: “Anything is possible as long as you put your mind to it. Your character is the key ingredient in shifting and driving the economy. People will value and consume what you sell as long as it is of the desired quality. You may not know the originator of a product but its quality will speak for it.”

Ms Letsididi shared her journey of quitting her job and venturing into business and said it was driven by the concept of mindset change. She therefore said the CEEP initiative would be achieved through mindset change on the side of the business as well as consumers of the goods and services.

She said whether speaking to issues relating to the environment and business, sustainability will always be key. Therefore, CEEP was not only focused on trade but was equally speaking to the growth and sustainability of the business.

Mr Mmetla Masire, the Managing Director of Okavango Diamond Company (ODC) a government-owned diamond marketing and selling organ, said the company had been working hard over the last 10 years to get Batswana to explore and venture into business opportunities presented by the diamond trading sector. He said by changing the mindset of doing business, ODC would go a long way in driving the CEEP as well as empowering and growing local businesses.

About women empowerment, Mr Masire said when ODC started, 26 per cent of the executive members were women, but the number has now increased to 67 per cent, a development he said was based on merit. He said the biggest obstacle towards fulfilling the CEEP was changing the mindset of the organisation in terms of investing in citizens.

 Therefore, Mr Masire said the company had to take the necessary risk to fulfil the need to empower citizen companies.

 “We have always assumed that the challenge was finance, only to realise that they were other challenges,” he said. After engaging the citizens through a survey, Mr Masire said the company created a citizen-exclusive tender process, where the locals bid among themselves giving them experience in the industry, developing international connections, the distribution and full understanding of the business to grow. Through the process, he said, they have started building local entrepreneurs in the diamond trade and empowering citizens to participate in the diamond industry.

Renowned businessman in Nigeria, Mr Prince Okonkwo, Founder and Chairman of Tetrazzini Group of Companies said the Botswana Business story was the complete opposite of what was happening in his native country.

He said: “In Nigeria, participation and ownership in businesses by the locals is at 95 per cent. I am here not only to look for investment opportunities but also to walk with Batswana businesses, guide them towards achieving what we are doing.

“I started as a small company as a kindergarten with 15 employees in 1999 and currently with 760 people.” On the issue of citizen involvement and engagement, Mr Okonkwo said the local businesses must rise as there was no better time than now. He encouraged the local businesses to follow their vision, change their mindset and rise.

“The spirit of I can do it will drive your aspirations,” he said.

Supply Chain Manager at Morupule Coal Mine, Mr Resego Keipidile, said their programme which aims at supporting CEEP started in May 2022 through opportunities in supply chain management. He said already P149 million has been spent on citizen-owned companies accounting for 29 per cent of the total budget spent on products and services.

He said the company has set a target to spend P1.5 billion in five years to support local companies.

Mr Keipidile said the company has identified areas where Batswana have competencies and identifying partners with expertise to capacitate the locals to service the company in whatever area without compromising the set standards of its production.

He encouraged local companies to develop a never give-up mindset to reap the rewards of the CEEP.

“We want to build a resilient supply chain system through the local businesses. Without proper services Morupule Coal Mine will not be able to adequately supply the nation with power,” he said. ENDS