Connect with us

Business

PPPs require careful planning, Nyamadzabo

Published

on

Government wants to first conduct due diligence before it enters into joint ventures with private companies, hence the delays in the implementation of Public-Private-Partnerships (PPPs), says Dr. Taufila Nyamadzabo.

The Secretary for Economic Affairs in the Ministry of Finance said government will not rush to implement the PPPs as it wants to safeguard the country’s interests. “There has been a slow pace in implementing PPPs and I think the major issue is how to guard the government interests in the process when implementing PPPs,” said Nyamadzabo.

He was addressing delegates during a budget review meeting organised by First National Bank Botswana. “It’s not that we just get money from the private sector but what we need to do is also to protect government interests when implementing PPP projects,” he said, adding that negotiations should also be done properly.

Another cause for delays in implementing PPPs is the lack of specialists in the area.“There has been also a problem in staffing the unit that is going to be responsible for PPPs,” he said.

Nyamadzabo however said the government has trained many people in the country to be involved in PPPs. He however revealed that government joint ventures with private companies were in the pipeline such as Morupule B to extend production by 300 megawatts.

Meanwhile Minister of Finance and Development Planning, Kenneth Matambo said the government approved the Strategy on Private Sector Participation in Land Servicing in April 2015. “Among the areas already identified for piloting the initiative include Gerald Estate Block 1 and Central Business District in Francistown, Kasane, Ramotswa, and Morwa/Bokaa area in Kgatleng District,” said the minister.

He said under this strategy, the private sector is expected to participate in land servicing. PPPs are complex contractual arrangement between the government and the private sector incorporating a specific time and risk sharing relationship.

The advantages of PPPs include risk sharing, accountability, innovation and best practice methodologies accompanied by clear monitoring and regulation.

Continue Reading
Comments

Business

Matambo calls on financial sector to pick GDP

Published

on

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.

Continue Reading

Business

First Lady advises women entrepreneurs

Keikantse Lesemela

Published

on

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.

Continue Reading

Trending