Wednesday, September 30, 2020

Botswana business urged to look beyond borders

The Chief Executive Officer of Itekanele Health Fund, Solly Reikeletseng, has challenged the private sector to try and expand its vision and market its products and services beyond borders because the country has a very small market due to a small population.

Addressing a prize giving ceremony of the BOCCIM Northern Trade Fair in Francistown, Reikeletseng stressed that the implications of the budget deficit indicate that there are very limited funds available from government.

“The most important question is what the future of the private sector is, especially the ones that are dependent on the government for business?” he said.

He went on to point out that Botswana is not blessed with a strong market because the population is too small to sustain business for a long time.

He elaborated that the theme of the BOCCIM Northern Trade Fair, Global Marketing, A Tool For Sustainable Growth, came at a time when businesses are struggling to come up with strategies on how to survive during the hard times.

Reikeletseng indicated that Botswana is in a compelling situation to strategise because the regional integration is underway, therefore, if not taken into consideration, the small businesses would be ruined.

“As Batswana we should deviate from the attitude of thinking in a box but we should be out looking in order to grab opportunities out there,” he said.

He encouraged the business community to try and comb out opportunities in Africa and the rest of the world.

He mentioned that there are organisations like LEA, BEDIA and the Ministry of Trade indicating that it is disheartening to find that Batswana are under utilising these departments to their advantage.
He further stated that the local business community needs to make quality assurance a first priority in order to compete globally.

“We have the Botswana Bureau of Standards (BOBS) and we ought to ensure that we subscribe to the quality assurance programmes such as ISO 90001 and aim to exceed expectations,”┬ásaid Reikeletseng.
He indicated that the business community also has to focus in making sure that they bring in a skilled workforce that will ensure seamless and consistent operations as a way of getting a good output.

He also encouraged the business community to try and develop a business acumen that means developing a good business ethic and loving what one does.

However he stressed that Global Marketing is a very good move in order to be successful in each business because it has many advantages such as the lower marketing costs, expanded scope, ability to leverage good ideas quickly and efficiently, uniformity of marketing practices, production improvement, tax benefits and establishment of relationships outside the political arena.

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