Saturday, May 28, 2022

“Sound partnership strategies a key to economic recovery” – Gowans

The Managing Director of Debswana, Jim Gowans, encouraged the Botswana Government and the private sector to develop sound partnership strategies in order to rescue the economy of the country from the effects of the world wide economic global crisis.

He was speaking at the Botswana Confederation of Commerce Industry and Manpower (BOCCIM) as it held its 17th Northern Trade Fair in Francistown last Friday.

Giving the key note address to the participants, Gowans said that although the government has taken numerous steps to try and improve the country’s economic diversification, there is still a high need for the partnership between the private sector and the public sector to be enhanced.┬á┬á

“By streamlining government agencies, increasing government efficiencies and harnessing synergies, eliminating bureaucratic red tapes, cutting back on expenditure levels in partnership with the private sector, the country will create platform for economic recovery for the next generations,” he said.

Gowans went on to say that the government needs to put much effort in rebuilding the economy by producing sound macro-economic policies, adequate infrastructure and a versatile human resource base. However, sharing the strategies of Debswana against the global economic recession, he reminded the participants that the mine had to shut down both Orapa mine and the Jwaneng Mine in 2008 as a mitigation strategy against the recession.

“As Debswana, we had to take advantage of the recession to prepare ourselves for more growth and sustainability through prudent expenditure, rationalization of our capital and operating expenditure, maintenance of our plants, equipments and providing our employees with voluntary special leave with retainer allowances so that when the economy recovers, our skilled workforce would still be able to contribute to our business,” Gowans added.

He mentioned that Debswana has continuously come up with other strategies to ensure that there is long term business sustainability through improved productivity and profitability as a way of prolonging its contribution to the socio economic development of Botswana. He called on the rest of the private sector to compliment efforts by government to diversify the economy as it is the engine of Botswana’s economic growth. He concluded by complimenting the BOCCIM trade Fair, saying that it gives opportunity to both small and big businesses to grow, network and pave way for economic recovery.

This year’s BOCCIM Trade Fair was held under the theme “The Road to Economic Recovery Powered by the Private Sector.”

RELATED STORIES

Read this week's paper