The newly appointed Minister of Entrepreneurship Karabo Gare says as government they aim for purposeful and innovative ways of engaging with the private sector to discuss and formulate productive partnerships that support the socio-economic needs.
He stated that as a country, they have further developed and continue to develop relevant policies and strategies to accelerate and aid rapid recovery from COVID-19 as well as insulate against future fragility.
Speaking at the Absa Bank Botswana 4th annual economic outlook forum under the theme, “Accelerating Transformative Investments in Botswana, Minister Gare stated that this year’s theme, “Accelerating transformative investments in Botswana,” speaks to the core of their mandate as the Ministry of Entrepreneurship. He added that Botswana has adopted developmental roadmaps such as the Sustainable Development Goals (SDGs), National Vision 2036, Nationals Development Plan 11, SADC Industrialization Strategy and Agenda 2063 as blue prints to improve Batswana livelihood. These are therefore, critical for every organization’s strategic visions to achieve inclusive socio-economic development.
“We are mandated to drive development of sustainable industries and trade and this can be achieved through “accelerated transformative investments in Botswana” as the theme details,” said Gare.
He further stated that the importance of economic diversification and structural economic transformation is no longer an issue for debate. He spoke of the discussions which he said were expected therefore, support the completed and ongoing reforms towards building a conducive business environment to position Botswana as an investment destination of choice.
Gare further stated that government’s partnership with Absa Bank Botswana comes from as far as the development of the Economic Diversification Drive (EDD) Strategy which focused on building a private sector and export led economy. He added that Absa has continued this relationship as they continue to partake in the Supplier Development Programme (SDP), a component of the Economic Diversification and Inclusive Growth (EDIG) Portfolio under the United Nations Development Programme (UNDP) partnership with Botswana. He believes that this forum is therefore, a clear example of the achieving one of goals of building a competitive private sector.
“I am informed that Absa Botswana is in partnership with our implementing agencies such as the Local Enterprise Authority in building competitive enterprises,” said Gare.
He is of the view that the combination of Absa, the LEA and the SDP, cannot be over emphasized as it gives hope to the Small Medium and Micro Enterprises (SMMEs) who for have decried lack of access to finance. He believes that discussions will in a way provide feedback and recommendations for both Government and private sector in ensuring financial access by the businesses.
He spoke about priorities as commitment to ensure “sustainable and impactful investment” that will contribute to transforming this country from an upper middle-income country to a high-income country by 2036. He said COVID-19 has taught them that they cannot be stuck in the olden way of doing business. Gare added that a lot of businesses have now gone digital adding that as continue to transform the economy through different sectors, innovative and creative ways, business need support through both private and public sector reforms.
“Accelerating transformative investment therefore, become the key to unlocking opportunities across all sectors for sustainable industries,” said Gare.
