BDC launches Kromberg&Shubert Factory shell- Grows Exports for Botswana
Gaborone – Western Industrial Estates, a 100% BDC subsidiary has recently completed the expansion of a factory shell housing Kromberg operations in Gaborone -West Industrial. The P36 million worth factory was officially launched on the 11th of May 2017 by the Minister of Investment Trade and Industry, Hon Vincent Seretse. Kromberg & Schubert focuses on the development and production of complex wiring systems for the automotive industry. When giving his welcome remarks Mr Gaetsaloe emphasised on the importance of partnerships in business and hailed the Corporation’s partnership with Kromberg and Schubert. “I am very happy announce that this 4100 sqm factory was delivered to Kromberg on time, quality and budget.” he said. Gaetsaloe highlighted that BDC’s strategic essence is to leverage best practise processes, governance and partnerships to create and grow commercially viable businesses
During his keynote address the Minister highlighted that the Government of Botswana continues to seek opportunities to grow the economy, and the key role of his ministry is to create wealth for Batswana and the country at large. “Standing here today to launch this factory shell attests that Botswana has a chance to grow and penetrate the export trade market. BDC has financed the expansion of this factory shell to allow Kromberg, to operate here, hire Batswana and to export its products all over the world. As we are all aware of our relatively narrow revenue base which is largely based on minerals, we have a challenge in expanding the scope of our economic activities through diversification and export-led growth.” said the Minister
With its appetite to invest in Botswana, Kromberg and Schubert, an international player in electrical vehicle wiring manufacturing space has by far has created in excess of 2000 jobs for Batswana. The newly built factory on its own created about 400 additional jobs. The minister urged BDC to continue delivering on its mandate as an investment partner and lender. He further reiterated that BDC, as an investment arm of government has a responsibility to operate on a commercial basis and earn a reasonable return from its lending’s and investments as it plays a critical role of private sector development for the greater good.
According to the Minister, the Ministry of Investment Trade and Industry shall continue to create a conducive environment for local and foreign investors that seek to do business in the country. The ministry shall focus especially on those that have viable projects that use readily available local resources including labour and bring in competent management to facilitate skills transfer and empower Batswana in business.
In summation, the Minister congratulated BDC and Kromberg on their newly formed partnership, and insisted it be natured to grow and yield more results.