The economic growth of Botswana cannot be told without over emphasizing sheer determination, brilliance and faithfulness to building the country from the grounds-up exuded by our forefathers.
It has been mesmerizing to learn about our economic boom from a mere $1 billion GDP in 1980 to an impressive $18.690 billion GDP in 2019; and a purchasing power parity of $43.907 billion. Purchasing power parity is the law of one price; there are no tariffs or transactional costs for a product hence, consumers anywhere in the world will have the same price for that particular product. Moreover, it is worth noting that post 1966 Botswana had a GDP per capita of $60 which now sits at $7,859 and also the human capital was only 22 university students.
What has been interesting to learn too was the odds that we faced in the early years and to some extend we still face. These where lack of proper infrastructure (water, roads, electricity, internet connectivity), access to capital and geographical handicaps, unskilled labor force and in the present times theoretically skilled but not practical. These however, did not deter the spirit of self-reliance, entrepreneurship and ambition in our people.
Our dazzling trajectory birthed multi-million dollar businesses that have scaled regionally and beyond. It is of paramount importance to share these success stories to ignite minds, boost confidence and show possibilities in the midst of the eminent economic downturn caused by COVID 19.
In no particular order, in 1998, Botswana became a launching pad for the renowned Billionaire Sir Strive Masiyiwa who came and started a telecommunication giant; Mascom Wireless (an abbreviation of Masiyiwa Communication). The network company which was his first, experienced exponential growth to become the leading network in the country with 1.5 million subscribers and enjoys a 54% market share.
In 1993, Jagdish Shah set up CA Sales Distribution center in Gaborone West. This was his first start up when he first came into Botswana. In 2005, the G-west facility burnt down which led him to build the biggest distribution center in the country measuring 35,000sqm. Shah, has been one of the successful businessmen in Botswana and his first investment in the country launched him to build a chain of high-end gym facilities across town; Jack’s Gym. In the Botswana Investor magazine interview, Shah mentions he diversified his investments and penetrated new markets in the USA, Dubai, India, South Africa and Namibia.
The economic growth of Botswana cannot be told without over emphasizing sheer determination, brilliance and faithfulness to building the country from the grounds-up exuded by our forefathers…Martin De Klerk Moatshe (Entrepreneur & Writer)
In 2006, we also saw the rise of 2 powerhouses; Mme Pinkie Setlalekgosi and Michelle Gebrial, the formidable force behind the internationally celebrated Sprint Couriers. Setlalekgosi who is a motswana wa sekai worked in the freight and logistics industry from DHL Botswana to Botswana Couriers and had a stint at African Express. She gathered all the knowledge and industry insights needed before she could launch it! She has received awards from the US to Switzerland. The company has penetrated the South African, Zimbabwe and Zambian markets, fostered global partnerships with one of the biggest freights and logistics company in the world; Aramex.
We have also seen one of our own Base Sebonego traversing uncharted territories. The founder of Mosele Legal Services; a legal aid that gives anyone the opportunity to get legal representation despite their income.
The company now boosts 27,000 subscribers and has recently got a South African license in the quest to expand to one of the biggest financial markets in Africa. Sebonego has already penetrated the Ghanaian and Namibian markets.
Another marvel is Flotek, the Botswana registered company established in 1998. The PVC and CPVC manufacturer has plants in Gaborone and Lobatse, and has enjoyed unapparelled success since its inception. The company has seen growth beyond borders. In 2005 the company opened shop in Launda and Lobito Angola. It later on opened four other plants in South Africa, then Namibia and Zambia. This cements a notion that we should know and spread the idea that Botswana is a launching pad for unicorns.
It is time our people know that despite our shortfalls as a country, we are more than open and conducive to birth and scale multi-million dollar companies. My intention was to go all the way and give a long list of companies that started in Botswana and expanded beyond borders. The likes of Turnstar Holdings, boosting over a billion pula property portfolio just in Dar es Salaam, Tanzania and Dubai. The likes of Motovac Group, a motor spares dealership with over a BWP1 billion annual revenue and operates in over 5 countries including the United Kingdom.
It all boils down to you, do you see obstacles or do you see opportunities. As for the market environment, it is proven above that it is ripe. Just Launch It! -don’t die with your dream.
On another note; COVID 19 is here-how ready are you for the imminent disruption of service offering in your industry?
