Africa-Press – Botswana. Given the prevailing difficult economic conditions that Botswana is facing, Government should be applauded for coming up with a well-thought-out budget, heads of two of Botswana’s major investment institutions have said.
Reacting to the 2023/2024 budget presentation in an interview Monday, Citizen Entrepreneurial Development Agency (CEDA), Chief Executive Officer, Mr Thabo Thamane said the budget provided for a conducive business climate, which was a prerequisite to achieving inclusive economic diversification, sustainable growth and employment creation.
He said it was pleasing to note that through proposed business reforms, the minister buttressed government’s commitment to empowering small and medium scale enterprises. “It is now upon citizens to utilise the available programmes to improve their livelihoods,” he said.
For his part, Botswana Investment and Trade Centre (BITC), Chief Executive Officer, Mr Keletsositse Olebile said it was encouraging to see government continue to establish business reforms aim is to create an enabling environment for ease of doing business.
Mr Olebile said the P420 million proposed for the implementation of the business reforms would go a long way in ensuring the growth of the business sector in Botswana, through creation of enabling environment that would attract FDI.
He said: “The proposed budget will drive BITC to achieve its mandate of investment promotion and attraction; export promotion and development, including management of the Nation Brand and in driving Botswana’s economic growth through attraction of Foreign Direct Investment.”
Mr Olebile said the proposed reforms were in line with BITC’s commitment to deliver service excellence to ensure the ease of doing business, which is critical in luring foreign investment.
He also commended government for the proposed Transfer Duty (Amendment) Act, 2022, which exempts Special Economic Zone (SEZ) licence holders from paying transfer duty when acquiring immovable property for purposes of operating business in SEZs.
The transfer duty had become a major hindrance to the ease of doing business in Botswana, he said. Mr Olebile said development of value chains was also commendable and pleaded with the business community to adopt the value chain approach, which involved progressively developing linkages between different stages in the production of goods and services, thereby creating jobs and improving livelihoods.
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