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Economic growth

Accreditation Crucial for SMEs' Growth and National Economic Development

Strategic Insights

— 1 min read

Accreditation can help accelerate the growth of Small and Medium Enterprises (SMEs) in Botswana, leading to not just their success but the overall national economic growth. The Minister of Trade and Entrepreneurship, Mr Tiroyaone Ntsima, emphasized the importance of SMEs in the country's economy and markets, citing Statistics Botswana's report that in 2022, SMEs accounted for 20 per cent of the Gross Domestic Product. SMEs, however, face obstacles like limited market access, certification difficulties, and competitive challenges. Accreditation can address these issues by boosting credibility and trust, increasing client base, and providing access to international markets.

Key Takeaways:

  • SMEs in Botswana are crucial for national economic growth, accounting for 20% of the Gross Domestic Product in 2022 (Statistics Botswana).
  • SMEs face obstacles like limited market access, certification difficulties, and competitive challenges.
  • Accreditation can address these issues by boosting credibility and trust, increasing client base, and providing access to international markets.
  • The National Accreditation Focal Point was established to advocate for the advantages of accreditation and market and coordinate Southern African Development Community Accreditation Services (SADCAS) operations in Botswana.
  • SADCAS CEO, Ms Eve Gadzikwa, highlighted that accreditation is an essential instrument for SMEs to achieve sustainable growth and innovation.
  • SMEs play a vital role in realizing the UN Sustainable Development Goals 8 and 9, aimed at fostering inclusive and sustainable economic growth.
  • Botswana, a member of SADCAS, gains advantages from accreditation certificates granted by a globally recognized organization.

Statistics:

  • SMEs in Botswana accounted for 20% of the Gross Domestic Product in 2022 (Statistics Botswana).
  • SADCAS is a globally recognized organization that enhances access to international markets.

Sources:

  • Mr Tiroyaone Ntsima, Minister of Trade and Entrepreneurship
  • Statistics Botswana
  • SADCAS CEO, Ms Eve Gadzikwa
  • Kgosi Seretse Peter Khama (no reference provided for quote, assumed to be a speaker at the event)
  • World Accreditation Day Commemoration in Serowe
  • Southern African Development Community Accreditation Services (SADCAS)

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