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Bokomo’s new plant to increase output

Keikantse Lesemela

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Bokomo's refurbished plant Source:The Midweek Sun

Local Fast moving consumer goods manufacturer and distributer, Bokomo Botswana announced that its new milling plant would improve their production capacity by over five percent.

Chief Executive Officer, Werner de Beer said through the upgrade, Bokomo can continue to provide quality products at increased quantities. “This for us is a significant step in the right direction as we are now better placed to meet demand of our products. The efficiencies unlocked by this upgrade will culminate in improved productivity, which will reduce cost pressures that will in the long run lead to price savings for the end consumer,” said De Beer.

The company invested P3 million on the refurbishment of the plant. De Beer told Business Trends that currently the company produces over 7 000 tonnes of maize meal and 3 000 tonnes of flour per month. The company distributes more than 849 consumer products in Botswana and currently manufacturers white star maize meal, Bokomo special maize meal, samp and maize rice among other products.

With the high production capacity, De Beer said they source most of the raw materials from South Africa and other countries, as local produce is not enough for their production. “We have a policy to supply local farmers but unfortunately they can only provide six percent of our demand. Currently, we buy from Botswana Agricultural Marketing Board (BAMB) but it is not sufficient so we import most of our maize and wheat,” he told Business Trends.

Bokomo Botswana Operations Manager, Jaco Venter said the mill upgrade would have a significant positive impact on the operations. “This upgrade will result in enhanced performance of our plant as we are now confidently able to work with larger quantities at an efficient pace and will enable us to increase our contribution to the supply and demand chains within the country,” he said.

Recently the company was awarded the ISO 901:2015 certificate by Botswana Bureau of Standards. De Beer highlighted that they continuously strive for excellence in their production. “It is therefore a proud achievement to have been certified as compliant with international standards of quality. This award has given us the confidence to do more as well as afforded our customers the assurance that Bokomo products are of the highest quality,” noted De Beer.

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Matambo calls on financial sector to pick GDP

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Finance Minister, kenneth Matambo

Finance Minister Kenneth Matambo has announced that government is committed to support financial service sector to prop up the country’s Gross Domestic Product (GDP).

Currently contributing over 13 percent to GDP, Matambo said the sector has potential to increase its share. “Hence government’s interest in the sector,” said Matambo addressing delegates at the inaugural Botswana Insurance Holdings Limited (BIHL), Global Financial Summit.

The country has built a strong, resilient and fast growing financial sector underpinned by a robust regulatory framework. The finance minister who is expected to step down next year, noted that government’s commitment to the financial service sector has this year been buttressed by a number of laws passed in July relating to money laundering activities.

In addition, Matambo said the continued investment in the development of information, communication and technologies (ICTs) backbone infrastructure is also to support local banks’ rising appetite for online services.

The Minister said the country remains committed to maintaining micro-economic stability to spur private sector participation in the economy. “Our vision is to become a high income country by 2036,” said Matambo, challenging the private sector to step forward and help government to develop the country, bemoaning the low levels of financial inclusion and shallow domestic capital markets.

He said the private sector should come up with more initiatives to develop further the local capital markets. The Minister’s sentiments were also shared by Martin Davies, Managing Director for Emerging Markets and Africa at Deloitte who has challenged the country to start dealing with its low manufacturing value add.

“How do we start to diversify beyond the single commodity economy,” quizzed Davies, adding that manufacturing increase is vital for low inequality across the country.

“Inequality results in bad public policy, as the state starts to believe and think they have to intervene more,” said Davies, highlighting that the country needs to move away from the absolute concept of state drive growth. Meanwhile, minister Matambo has applauded the private sector for leading economic dialogue in the country through events such as the BIHL Global Finance Summit.

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First Lady advises women entrepreneurs

Keikantse Lesemela

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First lady, Neo Masisi

First Lady, Neo Masisi has urged women entrepreneurs to bring change in the economic development of the country and the rest of Africa.

Speaking during the Lioness Lean in Africa breakfast on Friday, Masisi said women entrepreneurs are remarkable engines of economic growth and job creation. “I believe women entrepreneurs hold incredible potential and credentials on the continent because Africa has the highest percentage of women entrepreneurs in the world.

It is projected that millions of much needed jobs will be created over the next decade and these will be created predominantly through small businesses which are mostly run by women,” said Masisi.She highlighted that women entrepreneurs are also the most powerful engine for equitably distributing growth and they are also solutions for addressing inequality on the continent.

“It is a proven fact that for many generations, women understand the simple concept of barter and commerce. These are the role models of our past and our present and they will continue to inspire new generations to do more for business to grow,” she said.

The Lioness Lean In Breakfast Series brings together inspirational and successful women entrepreneurs to share, inspire and connect with the next generation of great women-led start-ups.

The platform is based on a breakfast networking and speaker presentation format, which has been organized in locations across the African continent for the past year by Lionesses of Africa, empowering over one million women entrepreneurs across the continent.

Stanbic Bank Botswana Head of Personal Markets, Omphemetse Dube said they are pleased to bring the Lionesses of Africa Lean In platform to Botswana once again to bring together women entrepreneurs in the country and help to nurture their growth further.

“Botswana is blessed with a number of thriving female entrepreneurs, and the potential for the next generation of talent is strong. Platforms such as this are therefore paramount in growing the cause and we as a bank are proud to help champion that movement further,” said Dube.

Founder and CEO of Lionesses of Africa,Melanie Hawken noted that Gaborone is a growing and exciting centre for women’s entrepreneurship in Africa. “This is a must-attend event for women entrepreneurs in the country as it gives them the opportunity to hear the inspiring entrepreneurial stories of women who are building great businesses here,” she said.

The annual Lionesses of Africa event allows entrepreneurs to benefit from the insights and advice of women entrepreneurs who have seen and experienced it all and to also provide an excellent opportunity for networking.

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