BDC PUMPS MORE MILLIONS INTO KROMBERG
Bo tswana Development Corporation ( BDC) has invested P64 million in the expansion of Kromberg and Schubert factory. The 7320 square meters factory is a continuation of BDC’s partnership with Kromberg after the completion of 4100 square meters factory expansion in 2017.
The expansion project was worth P36 million. Speaking during the ground breaking ceremony on Thursday, Minister of Investment, Trade and Industry, Peggy Serame said under the prevailing economic conditions, government calls on the private sector and entities like BDC and Botswana Investment and Trade Center (BITC) to be on the forefront in restoring the economy to its previous
position and lead in the transformation beyond Covid-19. “Our Vision is for this country to transform to being a producer and an exporting country. This can only be achieved through projects like this one. It brings renewed hope for the attainment of our national goals of economic growth and creation of jobs,”
Through the expansion and delivery of new contract, Kromberg will create additional 1250 jobs including construction jobs. The factory is managed by Botswana Investment and Trade Centre ( BITC). Kromberg & Schubert, which currently employ over 2100 citizens, exports on average P2 billion worth of goods on yearly basis. The Trade minister said Kromberg & Schuberts’ continuous investment and expansions in Botswana is a testimony to investor friendly policies and response to the country’s continued effort to improve the doing business environment to facilitate businesses. “This ground breaking ceremony for the expansion of Kromberg & Schuberts’s manufacturing factory enhances Botswana’s opportunity to grow and increase exports to neighboring countries and abroad. This contributes to the regional and global automotive value chains.”
Meanwhile, BDC Managing Director, Cross Kgosidiile said BDC is interested in high impact projects that will add value to economic transformation. “At BDC, we are about high impact projects and we are proud to mention that we have made a P64 million in this project,” said the BDC top executive, adding that government’s investment arm continues to deliver on its mandate as a trusted investment partner.