Africa-Press – Botswana. Government acknowledges the significance of the private sector in driving economic growth and creating employement opportunities.
Thus government has the adopted a comprehnsive approach to provide support and enable businesses to thrive.
Speaking at the Botswana Stock Exchange Tshipidi mentorship graduation ceremony, Minister of Finance Ms Peggy Serame said one of the key pillars of government strategy to empower local businesses was the promotion of corporatisation.
“This is a process of transforming informal and small-scale businesses into well-structured and formally registered entities.
It involves the adoption of corporate governance standards, compliance with regulatory requirements and the establishment of sound financial reporting practices,” Ms Serame said.
She said it was crucial for SMEs to be well-prepared and strategically positioned in today’s global economy, where businesses are constantly evolving and competition is fierce.
To that effect, Ms Serame said that the Tshipidi mentorship programme had emerged a beacon of knowledge and guidance, enabling enterprises to grasp the complexities of the listing process and adhere to robust corporate governance practices.
The initiative, borne out of the vision to foster economic growth and prosperity, Ms Serame said represented a remarkable stride towards the empowerment and enlightenment of the nation’s SMEs.
In its quest to prepare companies for listing, Ms Serame said the Tshipidi mentorship programme, played a pivotal role in facilitating entities towards corporatization.
This initiative, she said was a shining example of public-private partnership where government and the business community worked hand in hand to create an environment conducive to growth and prosperity. “By participating in this programme, SMEs are not only positioning themselves for listing but are also undergoing a transformation that would enhance their competitiveness, resilience and sustainability,” she said.
She said focus of the programme on corporate governance was particularly noteworthy as it also enabled enterprises to access the necessary financial resources and communicate their financial performance effectively to investors.
“The Tshipidi mentorship programme has been instrumental in educating these enterprises about the value proposition and process of listing on the Botswana Stock Exchange and providing them with the knowledge and tools necessary to navigate the intricacies of corporate governance,” she said.
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