Africa-Press – Botswana. With its strategic geographical position, Francistown stands as a burgeoning hub for business opportunities, particularly access to the Southern African Development Community (SADC) countries located in the north of Botswana.
Business Botswana president, Mr Neo Nwako commented on Thursday, during the official opening of the 29th Business Botswana Northern Trade Fair in Francistown.
Mr Nwako said Francistown was surrounded by numerous informal businesses that required support and development.
He therefore, reaffirmed Business Botswana’s commitment to enhance local economic development strategies in Francistown, ensuring that the transition to a robust private-led economy extended to grassroots levels, including the informal sector and Small, Medium, and Micro Enterprises (SMMEs).
As advocates for the business community, he said Business Botswana had completed the documentation and launched the Private Sector Development Strategy for the period 2025 to 2029, which focused on inclusivity and aimed to align the informal sector with SMMEs, fostering a high-income economy in Southern Africa.
“This aligns seamlessly with the government’s agenda for economic growth,” said Mr Nwako.
He also highlighted the importance of the strategy in addressing the country’s persistent inequalities, introducing initiatives and platforms designed to promote equitable growth.
The strategy is built on five key pillars; economic expansion, mainstreaming the informal sector, enhancing competitiveness through digitisation and private sector leadership. Mr Nwako expressed confidence that a strong partnership with the government could lead to meaningful business growth and job creation.
“By implementing effective strategies and initiatives, we can empower our youth to engage meaningfully in the economy,” he said and explained that quite a number of young people were unemployed despite being university graduates.
Additionally, Mr Nwako reported significant growth in participation at the trade fair, with over 170 exhibitors compared to around 150 in the previous year.
This year’s theme was: Driving Economic Diversification Innovation for Sustainable Growth.
The fair is a vital platform for showcasing business opportunities and fostering economic development in the region.
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