Private Sector-Led Economy Way to Go

Business & Finance

A leading South African parastatal chief says the private sector has potential to grow the economy of any country given the platform and the necessary requisites to enter the competitive market without unnecessary limitation.

Giving a keynote address at BOCCIM’s annual gala dinner on November 14, Mr Sifiso Dabengwa, said many governments had admitted that a private sector-led economy was the way to go.

Mr Dabengwa suggested that Botswana should not be an exception, more so that the country was investor friendly and continued to up its public infrastructure, which among other things, included telecommunication facilities, road network and transport sector.

Being familiar with investment environment in Botswana, and has undertaken consultancy works here, he told the over 500 guests that the private sector was the engine of growth of the economy because it has the capacity and expertise in business operations.

He noted that when companies competed among themselves to create a robust economy, they will stay afloat and thus open room for more sustainable economic growth in the country.

When this happened, he said, the lives of the people will indisputably change for the better as there would be massive job creation.

He reiterated the need for the government to formulate policies and regulations that are more accommodative to both local and foreign investors, adding that negative trading and investment regulation can scare away potential venture capitalists.

Nevertheless, Mr Dabengwa, who also called for the harnessing of technology which has become the latest business cash cow in aanced economies, said the civil service should also be close by as there was no how it could be excluded from economic issues.

The telecom boss told attendants, among them cabinet ministers, the governor of Bank of Botswana, and members of the diplomatic corps, that a g civil service coupled with a g private sector were complementary and thus ideal to grow the economy together.

He however said skilled human resource as well as good governance and good business ethics were the best ingredients for a sustainable economy.

At the same occasion, BOCCIM President Mr Lokwalo Mosienyane reiterated the need for the government to create an enabling environment for business operation in Botswana so that many people could actively partake of the venture.

He said the country should flourish with business people and avoid the mistake of having a rich nation with poor people who cannot meaningfully engage in the growth of their economy. He however said he was elated that many business operations still see the relevance of BOCCIM, which is their voice in terms of bargaining for business interests.

Mr Mosienyane, who has a g and unchallenged business acumen, and is also a fearless champion of operation, told the gathering that Botswana needed to build a g business base with the involvement of Batswana and the government to realise good returns and sustain the economy.

Some long time BOCCIM members and other stakeholders in the industry were awarded some awards to recognise their outstanding and supportive initiative including loyalty to the organisation over the years.

Source : BOPA

Source : Botswana Daily News