01 Sep 2024

The Chief Executive Officer of Business Botswana, Mr Norman Moleele said the private sector strongly feels that government is over-regulating the economy.

Reflecting on resolutions from the just ended National Business Conference (NBC) in Francistown, Mr Moleele aired concerns over the government's perceived heavy-handed regulatory approach.

"There is a mounting sentiment amongst businesses that the government is over-regulating the economy," said Mr Moleele.

He explained that this approach is limiting the freedom of businesses to operate with agility and efficiency.

Mr Moleele said this could result in a stagnant economy, devoid of fresh approaches and technologies.

He pointed out that said since 1988, at the first NBC conference, resolutions that influenced policy changes included the establishment of the High Level Consultative Council (HLCC), long-term vision for Botswana now at 2036, debate on Citizen Economic Empowerment (CEE), privatisation, and establishment of the Directorate on Corruption and Economic Crime (DCEC).

He indicated that the NBC advocated for low tax rates and removal of foreign exchange controls, as well as reduced corporate tax rate on manufacturing business profits by 15 per cent. Mr Moleele said due to commonalities between past NBC resolutions and the current NBC programme, there is need for urgency to address NBC resolutions. 

He said some issues like the liberation of the beef sector are over 25 years, having been discussed and conducted while others such as regulatory reforms, are too important to ignore and must be addressed for competitiveness and for other reasons.

The 17th conference concluded with the adoption of eleven resolutions, a potent mix of policy recommendations and actionable initiatives designed to catalyse economic growth, foster innovation and bolster competitiveness of Botswana's private sector.

These resolutions, set to be implemented over the next two years, are intended to streamline bureaucratic processes and reduce red tape, support entrepreneurship and small business growth and promote public sector partnerships and collaboration. Ends