BITC focuses on policy advocacy for 2024
Pauline Dikuelo | Monday February 5, 2024 06:05
Mmegi: What is the BITC’s focus this year, looking at the continuing stabilisation of the economy from the post-Covid period?
Olebile: (We are focusing on) Policy Advocacy and Reforms:
We will continue to work closely with government bodies to advocate for policies that enhance the business environment. This would involve advocating for regulatory reforms, tax incentives, and other measures that make the investment climate more favourable.
Facilitation of Investor Inquiries: The centre will continue to act as a central point of contact for potential investors. Provide information, answer queries, and guide investors through the necessary procedures and requirements for establishing a business in Botswana. This includes assistance with permits, licences, and other regulatory processes.
BITC is currently facilitating some investors who were engaged during the Business Forums that were hosted last year. Notably, Cavista Holdings: The company is interested in technology and communications services, and Tetrazzini Group Company is interested in real estate development and agriculture.
Mmegi: BITC is amongst the frontline agencies for economic diversification. What initiatives or efforts are being made to encourage the local economy to grow further in support of economic diversification?
Olebile: The Centre continues to make concerted efforts to promote Economic Diversification in the country. Through our procurement unit, the Centre ensures that it engages wholly-owned citizen enterprises to provide locally-made products and services. The Centre ensures that all procurement is done per government’s efforts to implore Batswana to set up their products and services and build industries from within the country.
Through the Economic Diversification, the Centre has also played its part in promoting local industries through the #PushaBW campaign which aims to capacitate Batswana with their businesses.
Mmegi: The local manufacturing sector remains nascent despite decades of various supportive policies including funding, incubation/support, reservation and ringfencing. Diamond mining and revenues, meanwhile, are facing a plateau and a decline in the coming years. What needs to be done to jumpstart local manufacturing?
Olebile: Whilst the sector is still young, it has great growth potential and has been government’s key priority sectors in the national development agenda in diversifying the economy, and creating sustainable employment and self-sufficiency.
The local manufacturing sector needs further assistance in capacity building. Those in the sector require a better understanding of the value chain in the industries they deal in. Botswana Investment and Trade Centre sees an opportunity for Batswana with border restrictions on the importation of products manufactured outside of the country. With the restrictions, Batswana have the opportunity to manufacture more of their products.
BITC is also actively facilitating domestic investment and expansions.
Mmegi: Some commentators have said an economy the size of Botswana with the population of its size, needs just a few, mega-industries in niche competitive areas to boost the country. What is your take on this and what could some of these mega-industries be?
Olebile: BITC sees the importance of building key industries in various sectors. Through these sectors, Botswana would leverage off of the import bill and encourage more businesses to build and promote. Sectors with high potential for import substitution and building of the economy would include:
Manufacturing: auto components, chemicals, leather and leather products.
Energy: Fuel and renewable energy
Agribusiness; Fertilisers, agro-processing, small-stock meat, vegetables and fruits
Healthcare; pharmaceuticals and medical devices
Transport and Logistics:
Mmegi: Botswana has signed up to the AfCFTA. How is the BITC responding to this in terms of preparing local firms to better take up these opportunities?
Olebile: BITC has seen the importance of engaging local industries in capacity building in making them understand the AfCFTA. The African Continental Free Trade Area (AfCFTA) agreement connects 1.3 billion people across 54 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion. There is a great deal of opportunity for Batswana with the AfCFTA.
From February 12 to 26, 2024, the Centre is offering an eight-module programme to citizen-owned businesses. The training programme is being organised in collaboration with the International Trade Centre (ITC) under the framework of the Botswana Exporter Development Programme.
The objective of the programme is to prepare companies to take maximum advantage of intra-African trade, and consist of eight modules as listed below;
l The Opportunity of Intra-African Trade
l Getting your Business Ready for Export
l Researching African Markets
l Developing an African Market
l Market Access Conditions
l Financing Intra-African Trade
l Intra-African Logistics
l Standards under the AfCFTA