{"id":31812,"date":"2023-08-04T11:45:53","date_gmt":"2023-08-04T11:45:53","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund"},"modified":"2023-08-04T12:30:11","modified_gmt":"2023-08-04T12:30:11","slug":"local-manufacturers-call-for-specialised-fund","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund","title":{"rendered":"Local manufacturers call for specialised fund"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Entrepreneurs in the manufacturing space have asked government to consider seeding an investment fund custom made to support enterprises in order to boost the sector\u2019s contribution to the economy.<\/b><\/p>\n

The plea was raised on Tuesday, at the opening of the Local Manufacturer\u2019s Summit held in Gaborone.<\/p>\n

Speaking at the event, Botswana Exporters and Manufacturers Association (BEMA) CEO, Mmantlha Sankoloba, said that despite the manufacturing sector being the fifth largest employer in the country, there is still an appalling lack of finance products that cater for the industry specific needs of manufacturers in the country.<\/p>\n

BEMA is a business membership organisation incorporating exporters, manufacturers, service providers, and individuals in trade and export related areas. The organisation has over 2,000 members.<\/p>\n

\u201cWe propose that government facilitates improving access to finance, especially to SMMEs in the manufacturing space,\u201d she said.<\/p>\n

The call for a manufacturers\u2019 fund follows concerns over access to funding by enterprises in the manufacturing space with worries mounting over the lending rates offered by commercial banks.<\/p>\n

According to Sankoloba, the time is ripe for the creation of a fund that understands the needs and operations of manufacturers, one which is willing to provide funding based on speciality needs.<\/p>\n

\u201cManufacturers continue to face challenges in accessing loans and are challenged by the rates offered by commercial banks,\u201d she said. \u201cWe propose the creation of an agency that provides funding based on manufacturers’ needs,\u201d she said.<\/p>\n

Delivering the keynote address, President Mokgweetsi Masisi said that government efforts such as reserving 30% of its procurement in SPEDU for manufacturers in that area, represent the desire by government to empower manufacturing entrepreneurs.<\/p>\n

\u201cAs government we have further negotiated longer loan repayment holidays for manufacturers and advocated for eased loan requirements to support local manufacturers\u201d he said.<\/p>\n

He, however, added that government alone could not fully drive the growth of the manufacturing sector.<\/p>\n

\u201cIt is the private sector that can help us get there through strategic investments in the different sectors of the economy, with particular emphasis on manufacturing which has the great potential to stimulate economic growth,\u201d he said.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Entrepreneurs in the manufacturing space have asked government to consider seeding an investment fund custom made to support enterprises in order to boost the sector\u2019s contribution to the economy. The plea was raised on Tuesday, at the opening of the Local Manufacturer\u2019s Summit held in Gaborone. Speaking at the event, Botswana Exporters […]<\/p>\n","protected":false},"author":84,"featured_media":31811,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,237,234],"class_list":["post-31812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nLocal manufacturers call for specialised fund - Botswana<\/title>\n<meta name=\"description\" content=\"Entrepreneurs in the manufacturing space have asked government to consider seeding an investment fund custom made to ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Local manufacturers call for specialised fund\" \/>\n<meta property=\"og:description\" content=\"Entrepreneurs in the manufacturing space have asked government to consider seeding an investment fund custom made to ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-04T11:45:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-04T12:30:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/08\/sm_1691135590.387993.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Local manufacturers call for specialised fund\",\"datePublished\":\"2023-08-04T11:45:53+00:00\",\"dateModified\":\"2023-08-04T12:30:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund\"},\"wordCount\":363,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/08\/sm_1691135590.387993.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/local-manufacturers-call-for-specialised-fund\",\"name\":\"Local manufacturers call for specialised fund - 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