Isaac Pheko
3 October 2008
Francistown — The Small, Medium and Micro Enterprises (SMMEs) are the key driver of economic growth as they feed into different sectors.
This was said by the Director of the Local Enterprise Authority (LEA) Ratang Sehuhule at the Bankers Forum at Tati River Lodge at which First National Bank, Venture Partners Botswana, Barclays Bank, Stanbic Bank, CEDA, NDB, and Standard Chartered were among the companies that made presentations here last week.
"We are all aware that Botswana is pursuing, economic diversification from the mining sector, Sehuhule said. "We believe that the important drivers of this economy will be strong agricultural, manufacturing and tourism sectors."But in order to strengthen these sectors, a flourishing SME sector is necessary. "SMMEs have cited lack of finance as the main factor to their detriment," she said. "LEA has found it critical to adopt credit facilitation as one of the interventions in supporting SMMEs.
"Our process at LEA is to work with SMMEs to develop good business plans and forward them to financiers (commercial banks and other financial institutions)."The objective of the workshop was to give banks the opportunity to explain their products and services to SMMEs and get feedback from SMMEs.
This was the first time LEA had organised a workshop of this kind and it was the beginning of a series of workshops on credit facilitation that LEA will hold around the country in future.
Said the Mayor of Francistown, Buti Billy: "LEA exists to provide business development services to SMMEs and entrepreneurs in different ways which (include) advisory services, business plan development, training and mentoring, access to information technology and market access.
"These products will promote and facilitate the spirit of entrepreneurship among Batswana in pursuit of economic diversification. Our belief is that for any business to kick-start, grow and expand, financial support is the backbone, hence the reason for this forum." Mayor Billy told representatives of the resources sector to empower SMMEs with the right information.
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