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PSP urges private sector to exploit DTC relocation KEIKANTSE LESEMELACorrespondent The private sector has been urged to utilise business opportunities inherent in the relocation of the Diamond Trading Company (DTC) from London to Gaborone.
The permanent secretary to the president, Eric Molale told private business owners at the Botswana Confederation of Commerce, Industry and Manpower (BOCCIM) AGM yesterday that government wants to ensure that the relocation of DTC generates business opportunities for Batswana."We want to ensure that the DTC relocation generates business opportunities and attracts unrelated businesses by individuals. We need to move DTC into Botswana not just as a marketing platform for development but also to create economic sustainability," said Molale.
He noted that since 67 percent of the world diamonds come from Botswana, the relocation seeks to ensure that Batswana participate in diamond processing. Molale explained to BOCCIM members that diamond revenues are expected to decline around 2026 as the value of the resource declines at the world richest mine, Jwaneng.He revealed that opportunities exist across sectors such as education, tourism, minerals and many others. The relocation of the DTC will see P45 billion worth of diamond business passing through the local banking system with 60 to 70 international diamond business persons coming to Gaborone at least ten times a year to buy diamonds. Molale however urged business owners to offer quality services, as most workers who will come here expect such services as quality education. He advised that the tourism sector also has to prime itself for the visitors."The tourism industry lacks quality and promptness. We need to ensure that our services are of a high quality standard," he noted.
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