Power sector can create more jobs � RMB

Chakalisa Dube | Friday September 16, 2016 16:13

Head of coverage Africa at Rand Merchant Bank, who is based in South Africa, Tshipidi Moremong said this in a presentation at the just-ended 14th National Business Conference (NBC) organised by Business Botswana. “Top five countries that produce solar powered electricity and have created many jobs through the sector do not have as much sunlight as we have. Germany, which is at the top of the five countries, has 1,500 hours of sunshine a year while we have over 3,000 hours.  Botswana also has approximately 200 million tonnes of coal reserves, which the private sector can use to generate power,” Moremong said.

“Government does not have to dig deep into its pocket to fund power-generation projects. It is the duty of the private sector to go out and look for funds, skilled manpower and develop infrastructure to execute projects. Government should let the best people handle the risk taken,” advised Moremong, adding that government should also be tasked with monitoring efficiency of the power-generation businesses.

Moremong believes that Botswana is suitably positioned to trade electricity to other countries in the Southern African Development Community (SADC) region.

“I often hear people saying that Botswana is land locked and has no easy access to various markets. In my view the country is land linked to supply power and other commodities to other countries in the SADC region. What is needed is to come up with creative ideas to access various markets,” she said. 

Moremong chronicled successes in countries such as Rwanda and Ivory Coast, which she said, have made significant economic progress as a result of allowing the private sector to produce and supply power.

“In 18 months, Zambia will also have power supplied by private companies. We have to move at a fast pace and allow the private sector to generate and supply power,” she said.

Moremong reckoned that there is too much liquidity in the market to fund the private sector to engage in viable projects such as power generation. “All that is needed is for companies to have a good track record in executing their proposed projects,” she said.

Moremong added that the technology sector is one wing that can significantly create jobs for Batswana as well as boost the economy. “The rest of the world is talking digitilisation.  Let us look forward and plan for another 50 years. Government should promote technology-backed businesses among others,” she said.

Giving an examples of Uber, an American online multi-national transport company, she said technology-backed businesses do not need many assets in order to be setup, but have huge chances of success.