28 Jun 2016

There is need to exploit the existing trade potential between Botswana and Kenya for the two countries’ economic benefit.

“Strengthening the ties between our respective private sectors will yield incalculable benefit for both our people’s. And this is not just economic benefit, but also a mutual understanding, cultural enrichment as well as knowledge transfer, “ President of Kenya, Mr Uhuru Kenyatta said.

He was officiating at Botswana-Kenya Business Forum in Gaborone on June 28.

Predident Kenyatta said unfortunately the trade between the two nations had been decreasing rather than growing in the last few years.

“That is true, both in terms of value of Kenyan exports to Botswana and vice versa,” he added.

This decline, he said, was particularly regrettable considering the fact that foreign investors, from outside Africa, “are seeing opportunities that bounce on our continent and in our two countries when we, as brothers and sisters, may be missing that opportunity.”

He expressed hope that the forum would contribute to remedying of an undesirable situation and to turning around of trajectory of the two nations trade relationship.

More than anything, President Kenyatta said he hoped the forum provided an opportunity for all to; dialogue honestly, share concerns and challenges, “as well as opportunities that exist, even as we work together, to make sure that we grow our economies in a sustainable manner. To create a conducive business environment that is worthy of its own nationals and foreign investors’ investment.”

 He said the Kenyan government had for the past three years been investing heavily on key areas of infrastructure and energy.

“We currently have over 1 600 new kilometres of road construction underway, which should be concluded and finished before the end of this year. It is set to open up our northern corridor,” he said.

Kenya, he said, was also building a new standard gauge railway that would eventualy connect Kenya with Uganda, Rwanda and South Sudan. The first phase of this project, President Kenyatta said was well underway.

“Ultimately, this will link the coastal port of Mombasa, which is the largest port in East Africa, to our capital city and ultimately to our neighbour’s in the region. This is the largest single national infrustructural investment since Kenya’s independence,” he added.

Once complete, he said it ‘will also open up a host of new business opportunities for Kenyans, as well as for our partners.’

In term of energy, he said his government had managed to connect over 2.1 million people to the national electricity grid, since 2013. This, he said was the largest number of Kenyans connected to electricity since independence, ‘thanks to our investment in power generation.’

In 2014, he said Kenya opened the largest single turbine geo-thermoplant and was currently working on creating a 40 000 hector wind farm in the north west part of Kenya, that would provide another 300 Megawatts of clean power to its national electricity grid.

These investments, he said would ensure that Kenyans, and the businesses that chose to invest in Kenya, had access to reliable and affordable electricity.

Further, his government, he sad had also gone to great length to strengthen its security infrastructure, ‘as over the last few years these have seen us fall prey to a number of terrorist attacks, which made international news.’

In his welcome remarks, the Minister of Investment, Trade and Industry, Mr Vincent Seretse, said Kenya presented a great platform for growing Botswana’s economy and contribute towards regional prosperity.

The forum that was hosted by Ministry of Investment, Trade and Industry was one of major initiatives undertaken by Botswana Investment and Trade Centre (BITC) in collaboration with Kenya High Commission to drive foreign direct investment between the two countries.

Through these joint efforts, Minister Seretse said, “these institutions have helped to enhance business and Trade relations and interest between our two countries.”

Mr Seretse challenged Botswana and Kenya business companies to engage with one another to fully exploit the immense business opportunities on offer from both countries.

He also encouraged them to use BITC services to facilitate their investments and business interests in Botswana. The centre was  mandated to promote and attract the country’s investments both nationally and internationally through promoting locally produced goods to regional and international markets, as well as by promoting the national brand.

Recently, Mr Seretse said Botswana and five other SADC countries signed an Economic Partnership Agreement with European Union (EU) which provided duty free, quota free market access to EU- increasing the market potential for companies in Botswana.

“This agreement provides an opportunity for usage of inputs or raw materials from our countries for production purposes through cumulation process,” he added. Ends