Khama challenges private sector to prove its worth

President Ian Khama this week urged the private sector to “intensify” its participation in the country’s development agenda, saying it’s the “key foundation” for economic growth and wealth creation.

Speaking at the 38th High Level Consultative Council meeting held at the Gaborone International Convention Centre (GICC) Khama said that productive and competitive enterprises are also vital for economic growth. He said that the private sector is capable of sustaining the country’s growth on a continual basis and therefore urged government to break down all barriers that hinder doing business.

He implored government to nurture mutual cooperation between itself and the private sector to facilitate discussion of policy and strategy aimed at developing the country. Government, he said, continues to work aggressively to catapult diversification and sustain growth in the economy. Although not easy Khama said it requires boldness, assertiveness, hard work, a supportive regulatory environment and pro-business approach by both private and public sectors. He added that attraction of foreign direct investment remains key to job creation and transfer of intellectual capital.

“We therefore need to ensure Botswana becomes one of the top destinations in Africa.” Addressing the issue of delays in issuance of residence permits, Khama said the private sector should approach the relevant line ministries who understand their nature of business to advocate their case with the ministry of labour and home affairs. Meanwhile Botswana’s economic recovery has been a challenge to sustain with annual growth rate declining from 6.1 percent in 2011 to 4.2 percent in 2012, 9.3 percent in 2013 only to decline to 4.4 percent in 2014.