Connect with us

Business

Jefferis urges govt. to invest in human capital budget

Published

on

Government has been urged to invest money in human capital rather than on infrastructure projects.

Speaking at the Botswana Accountancy College (BAC) national budget interpretation symposium, E-Consult Managing Director, Keith Jefferis said the government is spending a lot of money on construction projects which are less significant to the economy when compared to developing human skills.

“The government is very good in spending on hardware things like building of roads and infrastructure but software development like human skills and education. We don’t need to spend a lot of money on buying equipment but we need to be committed to improve human skills,” said Jefferis.

He said Batswana are struggling to penetrate the international market because they are not competitive.   Jefferis also explained that there is poor implementation of public projects and policies. “There is poor implementation of policies which can help boost the economy. We are always hearing about the set up of many policies but we have never seen those policies implemented,” he said.

He said spending on high return projects is doubtful because of the lack of cost benefit analysis. “Spending in some cases does not seem to be carefully prioritised to ensure prudent spending of scarce resources, a typical example is the 50 percent increase in the defence spending when everything is squeezed,” said Jefferis.

BAC Executive Director, SertyLeburu said research has revealed that the industry believes that graduates possess skills which are a mismatch to the needs of the labour market.

She said they are continuing to take deliberate steps to engage with the industry more meaningfully and systematically to ensure that their output matches current and future industry needs.

“As a business school, we have made giant strides in ensuring that our academic programmes are tailored to anticipate and address the needs of the industry. Our curriculum incorporates to the highest possible extent, industry expectations and requirements,” said Leburu.

Presenting the 2016/17 national budget, Minister of finance and development planning, Kenneth Matambo said government is committed to ensure that issues of quality of education and skills mismatch are addressed through the implementation of the education and training sector strategic plan.

The ministry of education and skills development has been awarded the largest share of P10.64 billion in the recurrent budget.

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