BDC Pumps P64M Into Kromberg & Schubert's Expansion

Pauline Dikuelo | Monday November 23, 2020 16:46

Through this expansion project and delivery on the new contract, the company will create 1, 250 additional jobs including construction jobs and other opportunities to further enhance the socio-economic benefit.

The partnership between the government’s investment arm and Kromberg and Schubert started in 2017 when they launched a P36 million 4, 100 square meters factory expansion for the company.

Speaking during the groundbreaking ceremony, the Minister of Investment, Trade and Industry, Peggy Serame said Kromberg & Schubert has asserted its position as a significant player in the regional automotive industry value chain.

“The company has also been a critical player in the economic development of this country as they currently employ more than 2,100 citizens across its operations and has created several indirect jobs through outsourcing some of their services such as maintenance, transport, cleaning and catering in the cafeteria,” she said.

Kromberg & Schubert exports on average P2 billion worth of goods annually thereby becoming a major contributor to foreign exchange.

Serame noted that for Batswana to be a global competitor, the private sector should penetrate the regional and international markets.

“Our vision is for this country to transform from being largely an importing and consuming country to being a producer and an exporting country,” she said.

“This can be achieved through projects like this one. This company’s continuous investment and expansions in Botswana is testimony to our investor-friendly policies and response to our continued efforts to improve the doing business environment to facilitate businesses.”