Mmegi

Gare calls for industrialisation

Edward Mpoloka

Minister of Entrepreneurship, Karabo Gare has called upon entrepreneurs in the country to pursue industrialisation as a path to sustainable growth.

Gare, who was addressing the Seventh Business Botswana Northern Trade Fair in Francistown said industrialisation as a rapid transformation of the manufacturing vis- a- vis other sectors has been the mainstay of structural transformation and the resulting economic growth and development.

He said industrialisation has long been a reliable path to fasttrack countries into middle and high – income economies, which Botswana is thriving to achieve.

“Industrialisation – driven structural transformation must therefore be at the forefront of our policy strategies,” he said, further stating that the centrality of business, its contribution, regardless of its size, is recognised in economies the world over irrespective of the level of development achieved in the concerned country.

He added that the success of businesses, especially the Small, Medium, and Macro Enterprises ( SMMEs) is critical in a developing economy like Botswana as an alternative engine of economic growth. In his view, his ministry motto, ‘ Private sector first, Government in support,’ is the only way the country can shift to a private sector- led economy.

According to the

Minister, SMME cont r ibution to economic growth, job creation, and inclusive social development is highly valued; hence the continued quest for performance improvement of business by both the private and public sector. The overarching goal of Gare’s ministry is to optimise the potential of SMMEs in driving technological innovation and economic development.

Gare explained that focus will be on the capacity development of the SMME sector to help them unlock opportunities for the development of new, high- growth enterprises in the private sector, particularly among the youth.

He noted that the new thinking in enterprise development will reflect value chain and cluster development approaches, which put more emphasis on the optimal use of knowledge and making fundamental changes in the entrepreneurial organisations involved in commodity supply chains.

“But I must hasten to caution that the recipe for success in all these efforts will depend on the paradigm shift from past supply chain practices which are mainly buyer centric to collaborative supply chains,” said the Minister, as he appealed to the private sector to continue playing a key role in driving Botswana’s economic growth.

The Mi n i s te r urged the private sector to take the lead and occupy its rightful place in the development agenda of Botswana.

CEO of Business Botswana, Norman Moleele said they will continue to look for areas of improvement including beyond Botswana’s borders to attract potential partners, investors and skills for budding entrepreneurs.

BG NEWS

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2023-06-09T07:00:00.0000000Z

2023-06-09T07:00:00.0000000Z

https://enews.mmegi.bw/article/281590949961717

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