24 Apr 2018

Minister of Investment, Trade and Industry, Ms Bogolo Kenewendo says government will continue to do its best to ensure that French businesses stay in Botswana.

At a reception to bid farewell to the President of the France Botswana Business Club (FBBC) Mr Fabrice Gaussen, hosted by the Ambassador of France to Botswana, Ms Kenewendo said she was pleased by the French ambassador when he mentioned that at the beginning of May, the French embassy together with FBBC would host an economic workshop that would gather French economic actors in Botswana as well as potential French investors based in South Africa.

 She expressed hope that this would bring more investors to Botswana because that is what the ministry was looking for.

“We are looking at the next growth frontier and that next growth frontier can only happen when we have people who believe in the vision, who believe in what Botswana is capable of when they come and partner with us here domestically, when they work with our local companies to help us grow the economy,” she said.

“As the new minister, I remain dedicated to ensuring that investors do come in and hat the red carpet promised to investors is rolled out the red carpet that keeps being rolled out for investors in other countries,” she said.

She said she was well aware of competing economies in Africa and globally that were looking for jobs and the industries that different companies were offering.

“We are open for business and we are looking to moving forward to next frontier with yourselves and French companies,” she said.

She said she was looking at possible ways to ensure that doing business in Botswana was eased and to ensure that when investing in the country, both domestic and foreign investors were met with the right service that they deserved and the right service that could facilitate and enable one to participate actively in the market.

Ms Kenewendo said her ministry was looking, in particular, for companies that would not only serve the domestic market, but that would also help the country look beyond its borders.

“We are very well aware that the only way for us to develop and jump from a middle income country to a high income country is if we are an export-led economy,” she said.

She said government hoped to retain the jobs that have already been created.

“When we talk about jobs, it is not just about the new jobs, but also maintaining the ones we currently have and maintaining the industries that we have,” she said.

For his part, French ambassador Mr Pierre Voillery took the opportunity to congratulate Botswana for the smooth political transition that took place less than a month ago.

“It reflects the unwavering commitment of Botswana and its people towards good governance, peace and justice.  At the international level, France encourages and commends Botswana for its brave and strong stances in favour of the ICC for instance,” he said.

He said it was a well-known fact that Botswana was facing a major economic challenge, being economic diversification.

Mr Voillery said in this regard, France, through government and private sector was ready to partner with Botswana to make it a reality.

“Since beginning of my tenure as the ambassador of France to Botswana, I have put emphasis on the development of our economic ties. It is a long term approach that really started with the organisation of the first France Botswana Business Forum in May 2017 at the Diamond Trade Centre,” he said, adding that more than 30 representatives of the French private sector attended.

He noted that in July 2017, they signed together with the Minister of Finance and Economic Development the amendment of the France-Botswana tax agreement, which would be ratified by the French Parliament in the coming weeks.

“It will take Botswana out of the list of non-cooperative states; which will help many French investors to come to Botswana, as for example, the French Development Agency that is willing to fund development projects in strategic areas,” said Mr Voillery.

He further said more than 15 French companies already have branches in Botswana and there had been growing interest from French companies towards Botswana.

Mr Voillery said they believed that Botswana’s economic market had a lot of positive features; an extraordinary political stability, a strong commitment towards economic diversification, a clever economic policy, a strategic location, a well organised business environment.

He encouraged Batswana to take advantage of Economic Partner Agreement (EPA).

“I would like to recall that Botswana is a member of the EPA, which has entered into force in 2016. Under the EPA, the European Union guarantees a 100 per cent duty free access to the European market for Botswana,” he concluded. ENDS