Private Sector Development Programme

The Private Sector Development (PSD) Programme is one of the 20 National Development Plan (NDP) III Programmes. The goal of the PSD programme is to increase the competitiveness of the private sector to drive sustainable inclusive growth. 

The key results of the PSD Programme over the five years of the NDP III are to;

  1. Reduce the informal sector from 51% in 2018/19 to 45% in 2024/25
  2. Increase non-commercial lending to the private sector in key growth sectors, from 1.5%in 2018/19 to 3%of GDP
  3. Increase the proportion of public contracts and sub-contracts that are awarded to local firms, from 30% to 80%
  4. Increase the value of exports from $5,390m in 2017/18 to $7,356m

The PSD Programme objectives are to:

  1. Sustainably lower the costs of doing business
  2. Strengthen the organisational and institutional capacity of the private sector to drive growth
  3. Promote local content in public programmes
  4. Strengthen the role of government in unlocking investment in strategic economic sectors
  5. Strengthen the enabling environment and enforcement of standards.

The NDP III and its Results and Reporting Framework stipulate the various outcomes, outcome indicators and targets to be achieved by each of the above objectives over its lifetime. 

It further outlines the various interventions to be implemented to achieve the desired results.