Africa-Press – Botswana. Local investors too can play a significant role in growing the national economy of the Botswana, Minister of Trade and Entrepreneurship Mr Tiroeaone Ntsima said when addressing a Kgotla meeting at Boseja Route 9 Ward in Maun on Friday.
He observed that the country had focused more on attracting foreign investment compared to cultivating local investment. He therefore said government realised that local investment also played an important role since it reinvested back to the country while foreign investors may take their profits elsewhere.
The minister said some challenges that negatively affected doing business in the country by locals were lack of knowledge, failure to separate profit from personal expenses, customers who fail to pay credit, failure to secure external markets, failure to adopt digitalisation and fronting through foreigners on businesses reserved for locals.
Mr Ntsima said the other challenge was lack of funds to start or expand businesses.
He said the aim was to make Botswana an investment hub as a country of entrepreneurship hence provide a conducive environment. He also appreciated lending institutions that helped with funding and empowerment on how to start and run businesses.
For their comments, one resident Mr Godwin Ben said the challenge for doing business was shortage of land as they waited for a long time to be allocated business plots by land board. He said their wish was to establish businesses that created employment for the locals.
Another resident, Mr Victor Segonyane said the challenge they faced was that industrial plots and ranches land allocation requirements were complex and expensive hence disadvantaged locals while some ended up fronting through foreigners.
Ms Diphetogo Mokgosing decried that they made loss this year in school uniforms sales since shops were selling uniforms despite the ban, which reserved the supply school uniforms for local businesses.
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