SPEDU Market Expo promotes import substitution, self sufficiency

New SPEDU Market Expo, scheduled for end of October has announced intentions to promote import substitution and promote self sufficiency for both the region and the country.

According to the organisers, the region’s investment promotion agency – SPEDU, the initiative is to showcase the bloc’s manufacturing capacity and promote it as a competitive destination for investors.

“The Expo targets buyers from the private sector, hotel groups, mining companies, distributors, chain and retail stores to appreciate the quality and capacity of SPEDU manufacturers and producers.

“This is to promote import substitution and self- sufficiency,” said SPEDU Manager, Corporate Communications, Shiellah Moribame– Moakofi, adding that the ripple effect of import substitution will promote decent sustainable jobs and improved livelihoods for communities.

Shiellah Moribame– Moakofi said the market expo is also expected to stimulate networking, business expansion discussions and ideas exchange for the bloc’s business community.

“The stakeholders activities at the Expo adds to SPEDU’s facilitation which includes reduction of the cost of doing business through incentives as well as ensuring that produced commodities penetrate the markets,” said Moribame– Moakofi.

The region’s targeted economic diversification sectors are manufacturing, agri- business, infrastructure development, real estate, tourism and services.

Cementing its stakeholder relations, SPEDU has also collaborated with BITC, LEA and CEDA for the upcoming Expo billed for Sam Sono Stadium in Selebi Phikwe, presenting an excellent opportunity to exhibitors to showcase their products and produce to potential buyers as well as establish new business contacts and synergies.

In addition, the Expo will also attract buyers, accounting officers and procurement agents, whose intention will be to appreciate SPEDU manufactured products so that they could procure them in line with the region’s approved incentive of 30 percent off- take agreement by the government.

Meanwhile, Moribame– Moakofi said participants to the event will be kept abreast of the Economic Inclusion Act, which is intended to promote the effective participation of targeted citizens in the economic growth and development of the economy, as well as enforcement of the economic empowerment initiatives.