Africa-Press – Botswana. While Botswana is committed to diversifying its sources of economic growth, government still looks up to the mining sector to continue to significantly contribute to investment, economic growth and diversification as well as job creation.
Speaking at the two-day, second edition of Local Manufacturing Summit in Gaborone yesterday, His Excellency President Dr Mokgweetsi Eric Keabetswe Masisi said mining played a significant role in the country’s economy over the years, transforming it from one of the poorest economies at attainment of independence to being an upper-middle class economy by 2007, leading to consistent economic growth.
However, he said there had been slow economic growth in recent years, with socio-economic challenges characterised by high prevalence of poverty, inequality, unemployment and a narrow economic base, especially in rural areas, where the youth were the most affected. President Masisi said manufacturing was the engine for growth for many economies around the world, and he applauded the mining sector to have taken part in the growth of the manufacturing sector in Botswana.
“Botswana should use the manufacturing sector to boost her GDP growth, through creating the urgently needed quality jobs in a host of mining operations, and in the emergent industrial development linkages and a supportive services sector,” Dr Masisi said.
The theme for this year’s Local Manufacturing Summit is Shaping the Future of Botswana’s Manufacturing Sector: Growth, Diversification and Job Creation, which Dr Masisi said fitted well with government’s objective of collaborating with the private sector and other interested parties to transform Botswana’s economic development trajectory.
He said the theme aligned with government’s plans to create highly conducive, entrepreneurial environment for creating job opportunities particularly for the young people.
“Our manufacturing sector must deliver for Botswana the results enjoyed by other successful manufacturing economies. It is also important to note that the manufacturing sector by nature provides well-paying jobs. It is very strategic in our quest to create sustainable jobs and wealth for Batswana,” he said.
Therefore, he said the manufacturing sector should be promoted and supported to ensure that it served not only the domestic market and reduced high import bill, but also to help the country to achieve aspirations of being an export-led economy which would lead to realising Botswana’s goal of high income economy by 2036.
He said sacrifices should be made to raise productivity levels and produce world class quality, in order to become internationally competitive, something he said helped global nations to become internationally competitive and wealthy.
Government’s intent, Dr Masisi said was to promote meaningful participation of citizens as investors, suppliers, service providers in the minerals sector for the economic growth and development of the country.
“To further support other growth initiatives, plans are afoot to set up a high-level Botswana Economic Development Board, chaired by myself, to cut all business-related red tape and ensure the manufacturing sector, and other strategic sectors do not face unnecessary barriers when seeking to do business in Botswana,” President Masisi said.
Meanwhile, Business Botswana president, Mr Neo Ngwako, said manufacturing was a catalyst for reducing unemployment levels.
He said activities such as the summit showed commitment of Botswana Chamber of Mines in their effort to diversify the economy of Botswana. He said government alone could not do it, hence collaborations and strategic partnerships.
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