… As BDC aids private sector growth
Botswana Development Corporation through its 100% subsidiary, Western Industrial hosted a ground breaking ceremony to mark the commencement of the construction for the expansion of warehousing facilities for Kromberg and Schubert.
BDC was approached by Kromberg, a car harnessing manufacturing company, for the warehouse expansion of 7320 square metres. Minister of Investment, Trade and Industry Peggy O. Serame officiated.
Kromberg and Schubert, an international player in electrical vehicle wiring manufacturing space, with over 118 years in the market, 50,000 employees and over 40 global locations; has by far created an excess of 2000 jobs for Batswana. Through this expansion project, close to 1,250 additional jobs will be created for the local market including additional construction jobs and other opportunities to further enhance the socio-economic benefits, especially under the current economic collapse that was brought about by the outbreak of the Covid-19 Pandemic.
Kromberg & Schubert has recently been awarded an additional contract which requires additional space to enable the fulfilment of their contractual obligations to its clients. After the completion of the project, the facility will allow Kromberg & Schubert to meet the market demand for its products.
Speaking at the ceremony, BDC Managing Director Cross Kgosidiile noted that “At BDC we are about high impact projects and we are proud to mention as we have made a P64 million investment into this expansion project. This follows another expansion project which we successfully launched in 2017, in which we had invested P36 million.’’
He acknowledged Botswana Investment and Trade Centre as their partner in the project and for having facilitated the acquisition of the land.
During her keynote address, Minister Serame highlighted the importance of infrastructural development in growing the local economy and the value of strategic partnerships between the Government and private sector, to work together and pull collectively in one direction. “With the prevailing conditions, the government is reliant on entities like BDC to bring in revenue and acceleration of private sector development in line with its mandate and strategic plan. This plan is supported by the need to invest in growth sectors and accelerate the implementation of the Economic Diversification Drive,” said Serame
She added that for Botswana to be a global competitor, the private and public sectors must be able to not only penetrate the local market, but also the regional and international markets, in order for Botswana to transform from being largely an importing and consuming country; to being a producer and an exporting country.
The minister implored BDC to continue delivering on its mandate as a trusted investment partner and driving towards realising our vision of becoming a high-income country, with an export-led economy underpinned by diversified, inclusive and sustainable growth driven by high levels of productivity, by the year 2036.
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