Stanbic Bank Botswana has brought together government representatives, business leaders and industry stakeholders to examine how Botswana can strengthen its competitiveness and unlock sustainable economic growth in a challenging economic environment. The discussion formed part of the bank’s CIB Connect Series, held under the theme “Competitiveness in a Challenging Economic Environment.” The session created a platform for stakeholders to consider the pressures facing businesses while identifying opportunities to strengthen investment, productivity and economic diversification. Discussions also focused on changing consumer behaviour, local value chains and the potential for Botswana businesses to expand into regional and international markets. The engagement highlighted the importance of cooperation between government, financial institutions and the private sector as Botswana works to build a more productive and resilient economy.
Investment and trade emerged as important areas of discussion during the CIB Connect Series. Businesses need access to capital, market intelligence and networks if they are to expand beyond their existing markets and compete effectively. At the same time, strengthening domestic production can help reduce vulnerabilities created by excessive reliance on imported goods and services. Developing stronger local value chains can allow more businesses to participate in economic activity while creating opportunities for employment and investment. These priorities are particularly important as companies navigate changing consumer expectations and a challenging operating environment.
Stanbic Bank Botswana Acting Chief Executive Thomas Mpedi said the bank has a responsibility to provide businesses with the insight, expertise and networks needed to support investment and expansion. Financial institutions can play an important role in helping companies understand market conditions and identify suitable opportunities for growth. Their role can extend beyond providing financing by connecting businesses to networks, expertise and information that can support better strategic decisions. Early engagement between businesses and financial institutions can also help companies prepare for expansion and assess their financial requirements before committing to major investments. Mpedi’s remarks highlighted the importance of a banking sector that works alongside businesses as they pursue growth and greater competitiveness.
Permanent Secretary in the Ministry of Trade and Entrepreneurship Joel Ramaphoi challenged entrepreneurs to move beyond dependence on government contracts and develop enterprises capable of competing for international business. Government procurement can provide opportunities for local businesses, but companies that rely heavily on public contracts may face limitations in their ability to grow and withstand changes in demand. Building businesses that can compete in private and international markets can create a broader and more sustainable customer base. Ramaphoi’s call also places greater responsibility on entrepreneurs to improve productivity, quality, innovation and market readiness. Businesses that develop these capabilities can be better positioned to identify opportunities beyond Botswana’s domestic market.
Ramaphoi also urged businesses to involve financial institutions early when developing expansion plans. Early engagement can help entrepreneurs understand financing requirements, assess risks and develop realistic strategies for scaling their operations. Businesses may also benefit from access to financial expertise when evaluating new markets, equipment investments or working capital needs. He emphasised the private sector’s role in driving innovation, creating employment, attracting investment and supporting economic diversification. This reinforces the idea that sustainable economic growth requires businesses that can identify opportunities, invest in productivity and create value without relying solely on government support.
The session also featured Frad Shoko, Global Head of Consumer Sector at Standard Bank Group, who provided an African perspective on changing consumer markets. Consumer behaviour continues to influence how businesses develop products, set prices, communicate with customers and plan their growth strategies. Companies that understand changing customer preferences can respond more effectively and identify new areas of demand. Looking at consumer trends from a broader African perspective can also help Botswana businesses understand opportunities beyond their domestic market. This type of market intelligence can be particularly valuable for businesses considering regional expansion and seeking to compete in increasingly connected markets.
Stanbic Bank Botswana Economist Godfrey Mwanza also shared an economic outlook during the discussion. Mwanza said economic indicators were beginning to point towards a gradual recovery and expressed optimism that measures implemented by key economic institutions were helping restore stability. An improving economic environment can create better conditions for investment, business planning and consumer activity, although companies still need to manage risks carefully. Economic recovery does not remove the structural challenges facing businesses, which makes productivity and resilience important priorities. Mwanza’s assessment provided stakeholders with a basis for considering how businesses can position themselves as economic conditions gradually improve.
The discussion around productivity is particularly important for Botswana’s efforts to strengthen competitiveness. Businesses need to produce goods and services efficiently while maintaining quality and responding to market demands. Improving productivity can help companies control costs, strengthen profitability and compete more effectively with businesses from other countries. It can also support the development of industries that have the capacity to serve both domestic and international markets. For the wider economy, stronger business productivity can contribute to job creation, investment and increased economic activity.
Local value chains were another important focus of the dialogue. Strong domestic value chains can create opportunities for businesses to supply one another while keeping more economic activity within the country. When local producers, suppliers, manufacturers and service providers are connected, businesses can develop stronger networks and reduce some of the risks associated with external supply disruptions. Stronger value chains can also create opportunities for smaller enterprises to become suppliers to larger companies. Developing these connections can therefore support broader participation in economic growth while strengthening Botswana’s productive capacity.
The emphasis on regional and international markets also reflects the need for Botswana businesses to think beyond the size of the domestic economy. Companies with the capacity to export can access larger customer bases and develop new sources of revenue. However, competing internationally requires businesses to meet market standards, understand customer requirements and maintain consistent quality. It also requires careful planning around logistics, finance, production capacity and regulatory requirements. Supporting entrepreneurs as they develop these capabilities can help Botswana build companies that are prepared to compete at scale.
The CIB Connect Series ultimately underscored the need for Botswana to strengthen domestic productive capacity while creating conditions that allow ambitious businesses to grow. Investment, innovation, financial support, strong local value chains and access to wider markets all have a role to play in building a more resilient economy. The participation of government, financial institutions and business leaders showed the importance of shared responsibility in addressing economic challenges. Businesses must continue improving their productivity and competitiveness, while institutions can support them with access to finance, expertise and networks. If these efforts remain focused on long-term value creation, Botswana can strengthen its economic foundation and create more opportunities for sustainable growth in an increasingly competitive regional and global market.
