The local manufacturing sector is adamant of growth underpinned by the 2024 Local Manufacturing Summit that has presented lot of opportunities to the sector particularly coming from the mining sector. The Summit spoke to the challenges that affect the manufacturing sector such as lack of access to the market and financing as well as the challenging regulatory framework etc.
It is organized by the Botswana Chamber of Mines (BCM) and its industry partners such as Debswana Diamond Company. The two-day summit was held under the theme “Shaping the Future of Botswana’s Manufacturing Sector: Facilitating Growth, Diversification and Job Creation.”
The sector commended the mining sector for its continuous support and capacity building through Citizen Economic Empowerment Programmes (CEEP) adopted by mines such as Morupule Coal Mine (MCM) and Debswana which their spending increased significantly towards manufacturing sector.
The Chief Executive Officer (CEO) of Botswana Trade Commission (BOTC) Shirley Moncho said there are quite number of export opportunities for the local manufacturing sector at regional and global markets.
Moncho also said the sector should also be fully capacitated to fully take the advantage of the trade agreements that Botswana is party to such as the African Continental Free Trade Agreement (AfcFTA).
The agreement provides for SMMEs to trade under the AfCFTA and has a Provision/Protocol on Women and Youth in Trade and Moncho encouraged the manufacturing sector to take advantage of the protocol.
The local mining companies being Debswana and Morupule Coal Mine highlighted investment opportunities that the manufacturing sector can tap in areas such as automotives and technology.
CEEP Manager at Debswana Lere Matebesi said Debswana has so far spent the P20 billion target on CEEP and large amount of spending was distributed to the manufacturing sector which bolstered sector growth.
Furthermore, Matebesi underscored Debswana’s commitment towards strengthening the capacity of the manufacturing suppliers listed on its database, adding that the major hurdle facing the sector is lack of access to the market.
“The manufacturing sector has quite good number of producers and the major challenge is that they don’t know where to distribute their products. As a mining entity, Debswana has made a priority in its CEEP that the local manufacturing companies from all scales including SMMEs benefit from our CEEP procurement,” highlighted Matebesi.
Govt
Officially opening the summit on Tuesday, president Mokgweetsi Masisi said it is important for the country to boost its productivity and that include through fully unlocking manufacturing potential.
Masisi highlighted the government’s intent to create meaningful participation of citizens as investors, manufacturers, traders and retailers to drive and position Botswana as a private sector led economy.
He also said the government will continue to review its policies or legislation such as the ease of doing business to ensure that the local manufacturing sector thrives to its full potential and create necessary needed jobs while also improving its value proposition in contributing to the Gross Domestic Product.
The Local Manufacturing Summit offers networking opportunities for local manufacturers drawing key players in the industry and further provides cutting edge developments in the manufacturing industry and to explore new opportunities