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Cries of the SMEs as economy tightens

Trying times: SMEs are during a difficult period due to the economic constraints PIC: MORERI SEJAKGOMO
Trying times: SMEs are during a difficult period due to the economic constraints PIC: MORERI SEJAKGOMO

The country’s SMEs are battling to stay afloat, as their biggest client, government, faces its own revenue challenges. The sector’s hopes lie in the NDP12, but saddled with their 80% failure rate, many are worried whether they can survive until the plan starts to bear fruits. Staff Writer, MBONGENI MGUNI writes

On Wednesday, Absa Bank Botswana managing director, Keabetswe Pheko-Moshagane, reminded a gathering in Gaborone about the stark reality facing many Small to Medium Enterprises, especially those in their nascent stages.

According to the prominent banker, the failure rate amongst SMEs in the country remains at over 80%, with 60% failing within the first 18 months.

Editor's Comment
Our digital safety is in our hands

That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...

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