Africa-Press – Botswana. Vice President Slumber Tsogwane has urged the private sector in Botswana to play a crucial role in advancing the growth of Small, Medium, and Micro Enterprises (SMMEs), emphasizing its significance for the overall economic development of the nation.
Speaking at the recent Business Botswana (BB) Gala Dinner held at the Adansonia Hotel in Francistown, Tsogwane stressed the need for retail outlets to allocate shelf space for SMMEs. He called upon the private sector to actively engage with these enterprises, sourcing their services and facilitating their expansion into key players in the local, regional, and international markets.
Underlining the importance of collaboration, Tsogwane encouraged the private sector to unite efforts in adding value to raw materials and creating opportunities for SMMEs. Acknowledging the challenges faced by businesses in Botswana, he highlighted the government’s commitment to improving the business environment through initiatives such as the Ease of Doing Business and Global Competitiveness agenda.
Addressing the relatively limited domestic market, Vice President Tsogwane pointed out Botswana’s focus on an export-led economy. He noted the significance of the Special Economic Zones Authority Act and related regulations as strategic tools to promote exports and align with the opportunities presented by the African Continental Free Trade Area (AfCFTA).
Tsogwane also called upon the private sector to explore the establishment of value chains, both domestically and internationally. Embracing technological advancements and digitisation aligned with President Mokgweetsi Masisi’s Mind Set Change agenda was emphasized, with a specific call to involve youth in designing innovative production methods.
Expressing optimism, Tsogwane outlined ambitious economic targets, including achieving a minimum annual average growth rate of real GDP of 6 percent until 2036, with a gross national income per capita of approximately USD 12,000. He underscored the importance of diversification by pushing for non-diamond exports to reach 39 percent of the GDP, alongside sustained efforts in mineral exploration and exploitation.
In closing, Tsogwane affirmed the government’s commitment to creating opportunities for Botswana’s small economy and stressed the importance of maintaining robust continental economic relations. The Gala Dinner, held under the theme “African Continental Free Trade Area (AfCFTA); Key to Economic Growth,” marked a significant call to action for the private sector to contribute actively to Botswana’s economic prosperity.
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