The Minister of Trade and Industry, Dorcas Makgato-Malesu says her ministry strives to provide a conducive environment for growing the economy and creating wealth through investment, industrialisation, economic diversification and trade.
Malesu was speaking at the official opening of the Exponential building, which she described as a state of the art building. The building is located at the new Central Business District (CBD).
The minister said elements such as business development, creativity and innovation are the heartbeat of the Economic Diversification Drive (EDD) initiative which aims to promote growth of a vibrant and globally competitive private sector.
“All over the world, the private sector is regarded as the engine of growth because it has the capability to create sustainable employment and economic diversification,” Malesu said.
According to Malesu, the government can do a great deal in terms of introducing good laws, providing security, improving the service infrastructure and supporting initiatives, but the private sector is vital in growing the economy.
Exponential, an eight storey building, came into being after 61 citizens came together, raised capital to buy land and invest P75 million to develop the project. After its completion, the value of the building is said to grown to reach P122 million.
The building, which was completed in July 2012, is built on the surface covering 7,856 square metres and has become home to 10 tenants, including Non-Bank Financial Institution Regulatory Authority (NBFIRA), Botswana Investment and Trade Centre (BITC) and Afena Capital among others.
“Exponential’s international standard workspace provides a platform for its occupants to project a professional and ambitious image to grow and confidently branch into new markets,” said Dumi Lopang, Exponential chairman. Shareholders say the project was completed within budget and the stipulated time frame.