Helping to create a ripple effect across Botswana�s economy
Tuesday, May 09, 2017
The story of De Beers’ partnership with Government has been told many times before. We are rightly proud of the part we have been able to play in supporting Botswana’s leaders in developing the nation, but we recognise that we need to do more to create an even bigger economic ripple effect.
As a business that has so many touchpoints with different parts of Botswana society, simply contributing through royalties, dividends, taxes and employment is not enough for us. We need to look constantly for ways in which we can embed the opportunity for further economic development and diversification.
The Francistown Umbrella Informal Sector chairperson, David Mbulawa, has highlighted this growing concern, revealing that many local traders are using their licences to facilitate the entry of foreign goods into the market at a fee.Fronting undermines the very fabric of our local economy. It allows foreign traders to exploit the system designed to benefit Batswana, using local licences to cross borders and sell goods at prices intended for local...