25 Jun 2014

Botswana and Kenya held their a business forum in Gaborone on June 24, in an endeavour to increase the level of trade and investment among African countries.

Speaking at the forum, permanent secretary in the Ministry of Trade and Industry, Ms Banny Molosiwa said there was huge potential for the two countries to increase trade and investment given the business environment in both countries.

She said the level of trade between Kenya and Botswana was low, noting that there were few commodities that Botswana exported to Kenya despite the cordial trade and investment relationship the two countries had enjoyed over the years.

She said the Botswana-Kenya Business Forum would not only strengthen the relationship, but would also broaden the trade landscape. Botswana’s exports to Kenya have historically included some articles of clothing, broilers, machinery and appliances and works of art among others.

At the three-day forum, Botswana and Kenya business communities engaged and forged beneficial partnerships and sustainable relationships.

Ms Molosiwa said as a market led economy, Botswana’s objective was to provide a conducive investment climate which would nurture economic growth through maintenance of a stable macro-economic environment coupled with requisite institutional support.

“In this regard, institutions such as the Botswana Investment and Trade Centre (BITC), the Botswana Confederation of Commerce, Industry and Manpower (BCCIM), the Botswana business community including the government will assist visiting Kenyan companies in exploring business opportunities across the economic spectrum,” said Ms Molosiwa.

She noted that there were abundant investment and trade opportunities in Botswana, such as in the agriculture sector, where there was a need for experienced companies to assist in increasing the local domestic production.

Ms Molosiwa also said opportunities existed in the financial services sector, an area where Botswana has competitive tax framework to enable investors to hub their regional operations, be it in ICT, mining, resources beneficiation, tourism and hospitality.

Kenya High Commissioner to Botswana, Ms Jean Kimani also said with the current business status quo in both countries, trade and investment level was low.

She however encouraged Batswana to purchase goods from Kenya directly as they would be guaranteed quality and would be made easier by the bilateral agreements where Kenya Airways flies into the country three times a week. ENDS