Saturday 17 March 2018

Botswana reserves retail clothing business to citizens

Botswana reserves retail clothing business to citizens
(APA 08/30/17)
Peggy Serame, Permanent secretary in the Ministry of Trade and Industry

Botswana has announced that retail in general clothing business or trade will only be reserved for citizens only.

The Permanent Secretary Peggy Sename explained on Wednesday that the Trade Act, Section 15, empowers the Minister to make regulations declaring any trade or business reserved for citizens of Botswana or companies wholly owned by citizens of Botswana.

“The law goes further to make an exemption where there is a joint venture between citizens and non-citizens and the citizen owns 51 percent or more in the joint venture. Where the citizen ownership falls below this threshold, the Minister’s approval is required for an exemption to be granted,” she said.

She said in line with the country’s priorities to attract investment and create employment for its citizens, the Ministry, has engaged with 14 retail stores, appealing to them to work out comprehensive programmes that would see the empowerment of citizens through the creation of supply chain linkages and investing in the development of the industry.

“These engagements are gradually bearing fruit as some of these retailers have made commitments with the Ministry and held workshops with citizen companies, to empower them in terms of quality and capacity supply of goods to the local and global markets,” she said.

Facebook comments