Online Version

Facebook Feed

  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
  • Munyadzwe breeds, commercialises phane wormMay 12, 2022
    “We have had clients from as far as England, Ethiopia, Nigeria, Ghana and they really like the phane worms. People are talking about snack protein, and we are part of that revolution, food security, healthy sources of protein, going […]
  • Bank Gaborone digitalises paymentsMay 12, 2022
    Launches the first ever Card-2-Card in Botswana We are offering clients high tech solution-Coetzee Bank Gaborone upbeat on its digital banking strategy BAKANG TIRO editors@thepatriot.co.bw Bank Gaborone has stepped up its digital banking integration through launching Card-2-Card payment solution […]
  • BSE targets new listingsMay 12, 2022
    As bourse launches Investor Compensation Fund P28 million fund to boost the investors’ confidence BSE CEO Tsheole upbeat on further growth of ETFs BAKANG TIRO editors@thepatriot.co.bw Botswana Stock Exchange Limited (BSE) CEO Thapelo Tsheole says the newly launched BSE […]
  • About Us
  • Advertise
  • Disclaimer
  • Contact Us
  • Login
  • Register
Tuesday, May 17, 2022
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Forex rates harm BEMA members

patriot by patriot
November 21, 2020
in Business
0
Forex rates harm BEMA members
491
SHARES
1.4k
VIEWS
ShareShareShare

Botswana Export and Manufacturers Association (BEMA) CEO Mmantlha Sankoloba has regretted the rising unfavorable foreign exchange rates, which negatively affect manufacturers.

Sankoloba said alongside the impact of COVID-19 on sectors represented by BEMA unfavorable foreign exchange rates was a major area of concern.

“As an association we have received numerous issues of pressing concern from our members. Some of our membership companies that source their raw materials from the United States of America have communicated with us that ever since the strengthening of the US Dollar, the price of inputs has escalated tremendously,” Sankoloba revealed.

She said the highly priced raw materials in turn have made outputs more expensive; thus making local exporters regionally less competitive. This, she said, has seen their sales dropping.

Local opportunities

Nevertheless, BEMA has seen a glimpse of hope arising from the restrictions imposed on the importation of face cloth masks.

“We have been incurring an influx in clothing that we are able to make locally and supply to retailers. The closure on importation of face cloth masks would assist local manufacturers in gaining increase retail market share,” she buttressed.

She remains concerned about the implementation of this restriction because it is important to capacitate cloth masks producers and assess whether they satisfy desires of clothing stores.

“We do not wish to see a situation where retailers are close out on local cloth masks as that will have a serious cost complications on suppliers. There ought to be a consensus between retailers and cloth mask suppliers before such a step is taken,” she stressed.

Citizen Economic Empowerment

With President Dr Mokgweetsi Masisi having rekindled the hope for Citizen Economic Empowerment Policy, BEMA’s priority area is for government to address land ownership issues.

Sankoloba said as BEMA they have made a recommendation for the government to consider including laws that prevent the sale and transfer of title of land so as to improve conditions.

BEMA says only land long leases should be allowed to protect the exposed.

Commenting on the shortcomings of existing programmes, Sankoloba insisted that some socio-oriented programmes overlooked business sustainability.

According to her, they focused more on poverty eradication than creating business opportunities that will enable business proliferation hence create mass employment.

“Regarding the growth of the manufacturing sector, the policies that play a key role are the Trade and Industrialisation Act. It also is known that Botswana has been treading slowly when it comes to the review of these policies,” she said, noting that it is pleasing that governments try to execute revised ones.

AGOA, BREXIT

The African Growth and Opportunity Act (AGOA) provides preferential market access to the US market, however there has been a slow uptake by Botswana manufacturers according to BEMA.

Sankoloba said there are different issues that need to be addressed in order to ensure full use of AGOA. In particular, she highlighted that issues around product quality and standards present as a major hurdle and have deterred local manufacturers from entering lucrative US market.

Her organisation co-chairs the AGOA reference group with the Ministry of Investment, Trade and Industry.   

BREXIT also poses danger to business opportunities that were preserved under the SADC-EU Economic Partnership Agreement which will cease to exist once the UK leaves the EU.

However, Sankoloba said there are separate negotiations with the UK under SACU and Mozambique to have a new trade agreement.

Related

Tags: BEMACOVID-19forex

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
  • Munyadzwe breeds, commercialises phane wormMay 12, 2022
    “We have had clients from as far as England, Ethiopia, Nigeria, Ghana and they really like the phane worms. People are talking about snack protein, and we are part of that revolution, food security, healthy sources of protein, going […]
  • Bank Gaborone digitalises paymentsMay 12, 2022
    Launches the first ever Card-2-Card in Botswana We are offering clients high tech solution-Coetzee Bank Gaborone upbeat on its digital banking strategy BAKANG TIRO editors@thepatriot.co.bw Bank Gaborone has stepped up its digital banking integration through launching Card-2-Card payment solution […]
  • BSE targets new listingsMay 12, 2022
    As bourse launches Investor Compensation Fund P28 million fund to boost the investors’ confidence BSE CEO Tsheole upbeat on further growth of ETFs BAKANG TIRO editors@thepatriot.co.bw Botswana Stock Exchange Limited (BSE) CEO Thapelo Tsheole says the newly launched BSE […]
The Patriot On Sunday

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2022 Copyright The Patriot On Sunday - Inspired by Search Mart.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?