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MITI aims to reinvigorate the informal sector

TRADE MINISTER: Serame

Ministry of Investment, Trade and Industry has recently launched Botswana National Informal Sector Recovery Plan in an effort to develop Small Medium and Micro Enterprises (SMMEs).

With plans to provide mechanisms for informal sector businesses that have been hard hit by the pandemic and other socio-economic problems, the ministry says it also plans to develop sustainable measures to overcome similar shocks by addressing the challenges facing the informal sector.

Moreover, the plan rests on two strategic goals being, establishment of informal sector facilitation structures and economic revitalization of the informal sector.

“The proposed interventions provide for an investment in the future capability of the informal sector and are aligned with the country’s National Entrepreneurship Policy and Vision 2036,” said Minister Peggy Serame when announcing the recovery plan last week.

The Ministry’s focused sectors being the services sector at 64 percent followed by agriculture at 21 percent, are believed to have the potential to deliver maximum impact in reinvigorating the sector.

Serame added that the main activities in the services sector include selling poultry, horticulture, and small-scale dry-land farming.

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The launch of this plan is to create awareness among the key stakeholders, government and private sector, civil society, and development partners.

“This should translate into the actual review of strategies to facilitate the informal sector in districts, regions, and communities. To that end my Ministry is in the process of reviewing the SMME’s guidelines, policies, and relevant strategies,” said Serame.

 

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