(3 Minutes Read)
In Botswana, the manufacturing sector, which includes diamond polishing, textiles, jewelry, and leather products, contributed approximately 5.6 percent to the country’s GDP in 2023
The Botswana Chamber of Mines (BCM) is setting ambitious targets for the country’s manufacturing sector, aiming to create 12,000 jobs in the next two years.
BCM Chief Executive Officer, Charles Siwawa, believes that Botswana has the potential to produce high-quality goods that can not only meet local demand but also compete on the global stage. Speaking at the second edition of the Local Manufacturing Summit in Gaborone recently, Siwawa emphasized the importance of the manufacturing sector as a driver of economic growth.
He pointed out that in many economies around the world, manufacturing has been a key contributor to GDP and job creation.
In Botswana, the manufacturing sector, which includes diamond polishing, textiles, jewelry, and leather products, contributed approximately 5.6 percent to the country’s GDP in 2023. Despite this, the sector remains relatively modest, constrained by a limited domestic market and a heavy reliance on imported supplies.
To address these challenges, the government has introduced several initiatives aimed at stimulating growth and enhancing the sector’s competitiveness. These include value chain development projects focused on diamonds, citrus fruits, and soda ash.
The Local Manufacturing Summit is a premier event that brings together key stakeholders from the government, private sector, and academia to discuss strategies for advancing Botswana’s manufacturing sector.
President Mokgweetsi Masisi, who also spoke at the summit, highlighted the need for continued economic growth to address persistent challenges such as poverty, inequality, and unemployment.
Read Also:
https://trendsnafrica.com/botswana-announces-discovery-of-second-largest-diamond/
To further support the manufacturing sector, President Masisi announced the creation of a new consultative body, the Botswana Economic Development Board. This board, chaired by the president, will work to remove bureaucratic barriers that have hindered potential investors in the manufacturing sector.
