Connect with us

Business

Sleek Foods wins tender to supply KFC

Published

on

Local Company, Sleek Foods has won a tender to supply the multinational franchise, Kentucky Fried Chicken (KFC) with locally produced chakalaka salad. Launching the product on Friday, Sleek Foods Managing Director, Seleka Nkata said her company passed KFC audit in July this year and it now qualifies to supply all the KFC outlets worldwide.

“I approached KFC in 2015 and they gave me all their pre-requirements and I made sure that I meet them. I am now accredited to supply all the KFC outlets around the world,” she said. Sleek Foods (Pty) Ltd was established in 2010 and it is currently operating from the LEA Pilane Multi-Purpose Incubator. The company produces a locally self-developed condiment, an assortment of relish, in different flavours made from locally produced vegetables.

Sleek Foods registered with the Local Enterprise Authority (LEA) in 2013 and has since benefited from numerous interventions availed by LEA including training on taxation and business related courses and facilitation of access to finance. Nkata said their current production is 400kg per day and the demand of KFC is about 6000kg per month.

“We are well equipped to meet the local demand and in the near future we want to expand to the regional market and then grow to the global market,” she said. The company has 12 part-time employees and nine fulltime employees. Nkata said they currently supply major supermarkets such as Sefalana, Pick & Pay, Spar and Choppies Hyper Stores with various relishes including olive oil tomato and onion relishes.

KFC Acting General Manager, Gaamangwe Maruapula said they encourage all local entrepreneurs to be persistent in business and aim higher. “We are happy with Sleek Foods, she will not be the one benefiting but other suppliers of vegetables will also benefit. “She can now approach all the KFC outlets in the region and she will not go through another audit.

There is no limit for her,” said Maruapula. He said Sleek Foods passed the YUM Food safety Audit in their second attempt. “We encourage all the local producers to take note of this and take advantage of the opportunities available,” he said.

Continue Reading
Comments

Business

‘Manufacturing holds key to economic growth’

Published

on

Barclays bank’s economist Naledi Madala has urged the country to consider manufacturing, as a key tailwind to drive the economy and reduce inequality.

She was speaking at a gathering organised by the bank which focused on economic outlook for 2019. “We should not make a mistake of leapfrogging without manufacturing,” said Madala, lamenting that the country’s diversification remains a pipeline dream, as the diamond is still the economy’s mainstay. She bemoaned that mining activities in the country could not spring forward diversification, though non-mining GDP has been steady over the years.

“Extractive industries are not good stepping stones for diversification, the sector does not prepare us for the next step,” said Madala at the Barclays’ Economic Outlook Forum Review 2019. The economist further noted that government should confront head-on challenges of productivity and competitiveness to attract the much needed Foreign Direct Investment (FDI). Though diversification efforts continue to hit a brick wall, Madala said the country should expect increased activities in the mining sector hinged to ramp up in coal production in the year ahead.

She also implored government to consider a welcoming attitude towards foreign investors and generous tax incentives to businesses that set up in the country. Madala is also upbeat that the use of public private partnership model could also help diversify the economy coupled with privitisation. “Privitisation will offer opportunities for growth, through the renewed optimism from government, as business confidence has improved,” said Madala.

She implored the government and the business community to access what is going to drive and hinder growth highlighting that key headwinds to growth are income inequality, diversification challenge and productivity, among others. “The pace of poverty reduction has slowed down, while income inequality goes up,” said Madala

Continue Reading

Business

MINISTER BEWAILS BAD REPAYMENT BY YOUTH

Keikantse Lesemela

Published

on

Minister of Youth Empowerment, Sports and Culture Development, Tshekedi Khama has told parliament his ministry continues to face challenges on the repayment of Youth Development Fund (YDF) loans.

Recently presenting the budget to Parliament, Khama said this financial year the ministry has received a total of 2582 YDF applications and approved 983of them to the value of P98 million. He said the programme attracts a high level of interest from youth but the ministry is only limited to funding a maximum of 1200 youth projects annually due to budget limitations.

“However the greatest challenge for the Fund is the repayment of the loan component by the majority of the youth businesses. The youth have advanced number of challenges for this including high rentals for operating spaces, low market access owing to tight competition and limited production capacities,” said Tshekedi, adding that they continue to pursue beneficiaries to repay the loans.

Out of the 919 businesses funded 1058 jobs have been created. The minister highlighted that disbursements of funds will continue to be undertaken until the end of the financial year. “The YDF is currently under review in line with the pronouncement made by the President, Dr Mokgweetsi Masisi in the State of the Nation Address, to improve beneficiaries through training, and encourage consortia and cooperatives,” said Tshekedi.

The ministry assists YDF beneficiaries in marketing their products and services through fairs and exhibitions. The ministry also runs entrepreneurship-training seminars for youth and in the past year 3692 young people were trained. Over 600 youth businesses attended fairs and exhibitions to market their products and services. Currently the ministry is collaborating with Local Enterprise Authority (LEA), First National Bank Botswana and Citizen Entrepreneurial Development Agency (CEDA) on training in entrepreneurship development and mentorship of YDF beneficiaries.

Continue Reading

Trending