Africa-Press – Botswana. The Selebi Phikwe Town Council (SPTC) is working toward the establishment of an investment arm intended to boost the council’s revenue streams and promote sustainable development.
Speaking during the town’s special full council session, deputy town clerk for Corporate Services, Mr Eric Botshelo said preparations for the full registration of the investment arm were underway, with the completion of the process expected in November.
He said the initiative was timely, as local authorities were seeking innovative avenues to reduce dependence on government subsidies for service delivery.
“This investment arm represents a significant step toward enhancing the revenue streams of SPTC. It is not solely focused on immediate financial gains, but rather aims to establish a strong foundation to support future sustainable development,” he said.
He said the investment arm would strategically invest in various sectors, thus positioning SPTC as a proactive local authority capable of capitalising on opportunities that would strengthen the local economy and encourage long-term sustainable growth.
“Its focus will be to cover multiple sectors, including industrialisation, agriculture, and infrastructure development, among others.
Through strategic partnerships with the private sector, SPTC aims to create opportunities that would stimulate economic activities in the town,” he said. Furthermore, he noted that the investment company would adhere to corporate governance principles to ensure accountability and transparency.
Nominated councillor, Mr Dimpho Mashaba praised the decision to create an investment arm, describing it as a positive step in the right direction toward financial independence.
He said the initiative would reinforce community development, particularly in areas such as public health and infrastructure, among others. Meanwhile, Clerk of the Selebi Phikwe Town Council, Mr Lawrence Mokotedi announced the establishment of three new committees; Education, Health and Human Resources.
He noted that the committees, along with the existing ones, would align with the government’s mandate and would be tasked with enhancing governance, council operations, transparency, and accountability, among other democratic ideals.
For More News And Analysis About Botswana Follow Africa-Press
