Gaborone — Minister of Entrepreneurship Mr Karabo Gare has underscored the importance of promoting resilience, sustainable development, innovation and partnership to facilitate the manufacturing sector's growth.
Mr Gare was speaking at the closing of a three-day Local Manufacturing Summit organised by Botswana Chamber of Mines in Gaborone recently.
Mr Gare said the essence of the summit was to support government efforts aimed at diversifying the economy and growth, as well as citizen empowerment and employment creation through promotion and support of local manufacturing.
The minister said the gathering was testament to the power of collaboration and dialogue in charting the course for the nation's economic future.
He said the deliberations of the summit were pivotal in shaping the future of the country's manufacturing sector.
As such, Mr Gare was optimistic that the local manufacturing sector had a future as the knowledge shared and connections made during the summit were the seeds of progress that would propel the country towards economic prosperity and sustainable development.
"Let us continue this journey hand in hand, united in purpose and determination, together we will unlock the full potential of Botswana's manufacturing sector, uplift our communities and build a thriving diversified economy that stands as beacon of success for the African continent and beyond," he said.
Mr Gare noted that it was important to forge ahead with enthusiasm and unity.
He highlighted that government had identified the manufacturing sector as one of the key sectors with the potential to drive the national transformation agenda and propel the country's economic diversification as well as creating employment and business opportunities for Botswana.
He said over time, the manufacturing sector had not been performing well as evidenced by its stagnant contribution to the GDP, averaging five per cent over the last decade.
Furthermore Minister Gare stated it was imperative to identify opportunities that could propel the sector to greater heights, particularly through development of innovative and sustainable value chains within the sector.
He said the manufacturing sector must evolve, embrace modern technology and practices to stay competitive and relevant, further adding that it was important to form alliances that would increase knowledge.
Mr Gare said collaboration between industries could bring about synergies that would unlock new opportunities. He pointed out that it was important to create an integrated, robust and sustainable manufacturing value chain.
The minister recognised that the growth of the local manufacturing industry relied on strong institutional support, therefore government was committed to fostering an enabling environment for manufacturers by among others providing the necessary incentives.
Furthermore, Mr Gare said government would actively engage with all other relevant stakeholders to address any challenges faced by the sector and devise sustainable solutions.
Mr Gare also proposed that in the next financial year other, government ministries must be encouraged that as they do their budgets, allocate a lion's share towards the development of Small Medium and Micro Enterprises (SMME).
He said many of the SMMEs collapsed due to lack of financial support.
He pointed that innovative and sustainable financing support would play a pivotal role in nurturing local manufacturers and exporters. He also noted that access to capital was essential for expansion, modernisation and penetrating export markets.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
The emphasis on the development of solar energy and manufacturing signifies government commitment to environmental sustainability, he said adding that embracing clean energy solutions enhanced energy efficiency and cost effectiveness.
He also encouraged the local manufacturers to champion solar energy production and promote the development of eco-friendly manufacturing practices.
Mr Gare said the summit had enlightened local manufacturers of strategies to overcome trade barriers. He implored them to work together and explore export opportunities and strengthen Botswana's presence in the global market space.
He further advised manufacturers to look beyond the borders of the country.
BOPA
