BusinessMonitor wraps up 2022
Pauline Dikuelo | Tuesday December 20, 2022 06:00
Ministry of Entrepreneurship launched The Ministry of Entrepreneurship was established following the rationalisation of ministries, parastatals, and public entities to provide leadership and overall policy direction, strategy, and standards for business development.
This is supported by its core strategic objectives of fostering an entrepreneurship mindset; promoting business enterprise; and achieving diversity, equity, and Inclusion.
The ministry’s portfolio includes enterprise development and coordination, small business development policy, wealth creation, citizen economic empowerment, coordination of value chains, and women empowerment. The ministry is also mandated to review SMMEs' existing policies and programmes to make the environment conducive for running a business and for merging entrepreneurs to be able to start, grow, and survive thus creating jobs and contributing to the positive growth of the economy.
Leather Park master plan complete Government has completed the master planning of the Lobatse Special Economic Zone (SEZ) which entailed a business case and urban design masterplan.
The plan was awarded to a local consultant who completed it within budget at a cost of P8.5 million. The master plan positions Lobatse Meat and Leather City as a vibrant meat and leather processing ecosystem that will produce finished meat and leather products such as sausages, canned beef, soaps, leather garments, and upholstery for vehicles. So far, government has committed P379 million to the development of the Lobatse Leather Park.
UB launches solar power plant University of Botswana (UB) has partnered with SEB-Strudee Consortium for the production of 6MW PV power plant, a move that will slash the university’s monthly electricity bill of P3.6 million. The $6 million-worth power plant will be built on the land within the university’s Gaborone main campus. Projected to start in the second quarter of 2023, the project is estimated to take about six months and will be rolled out as a design, build, finance, operate, and maintain model. The 6MW solar power plant will not only supply a large proportion of the daytime electricity requirements of the university. It will also supply any overproduction of clean energy to the grid.
Gov't imposes vegetable ban Government imposed a vegetable ban on the import of 16 vegetable varieties which included onions, butternut, tomatoes, watermelons, carrots, potatoes, cabbage, and ginger. Three crops, in particular potatoes, tomatoes, and onions accounted for 53% of the horticultural import bill. The move was aimed at reducing the annual import bill which usually hovers around P9.2 billion and was believed to be robbing Batswana of resources and employment opportunities.
Botswana hosts Forbes summit Government hosted the first ever Forbes 30 under 30 in Gaborone. Hosted in partnership with Botswana’s presidential initiative, this summit brought together 600 young entrepreneurs and game-changers from Africa, Asia, Europe, and the US. Mentorship, networking and important conversations centred around sustainability, innovation, and entrepreneurship.
Progress made in Trans-Kalahari Railway The Trans-Kalahari Railway (TKR) is moving close to reality as Botswana and Namibia have recently met and emphasiSed the need for speedy implementation of the project aimed at promoting trade and tourism. The project was conceived in 2010 with the commissioning of the feasibility study and bilateral agreement signed in 2014. However, the railway line was put on hold as it was reported that Botswana and Namibia could not iron out their issues. Initially, the railway was estimated to cost $9 billion and expected to create an alternative route for the import and export of commodities allowing Botswana to be a transit hub in the region.
Rationalisation of parastatals President Mokgweetsi Masisi issued a directive in March to rationalise state-owned enterprises and parastatals. According to the directive, the Ministry of Trade and Industry (MTI) has been directed to restructure the Botswana Development Corporation on non-agricultural sectors based on the approved lending threshold within three months and move it to the National Development Bank. MTI was also ordered to transfer the functions of SPEDU to the Botswana Investment and Trade Centre and merge Special Economic Zones Authority and Botswana Tourism Organisation within two years.