10 Feb 2021

President Dr Mokgweetsi Masisi says the Mining Indaba initiative is of paramount importance to Botswana.

Addressing a virtual meeting of the 2021 indaba recently, Dr Masisi said the initiative had created critical networks among the world’s mining community necessary for productivity and performance enhancement as well as cementing the country’s footprints in the mining industry.

He said this year’s conference was significant as it was held during the COVID-19 pandemic which had greatly devastated the world economy with mining industry as one of the key economic sectors severely affected.

Dr Masisi said the pandemic left dire consequences for the development of diamond producing countries such as Botswana.

He said last year, Botswana experienced logistical challenges for exporting minerals while in some instances markets shut down completely, which resulted in great losses.

President Masisi further said the pandemic diminished revenue in some countries and continued to pose challenges for the diamond industry.

The 2021 indaba therefore provided opportunities to introspect and propose robust innovative strategies and solutions to revive the sector to help overcome the economic challenges countries endured during the pandemic, he said.

He said the situation called for collaborations particularly between governments and private sectors to ensure rebuilding of the mining sector.

Expressing optimism about the recently launched Africa Continental Free Trade Area, Dr Masisi said it would go a long way in accelerating intra-Africa trade.

He said  it would boost mineral rich countries trading positions in the global market as well as strengthen Africa’s common voice and policy space in global trade negotiations.

With a combined population of over 250 million and vast natural resources, Southern Africa Development Community (SADC), offered important market opportunities for its member states, Dr Masisi said adding that the region also had opportunities to attract investment in the extractive industries.ENDS