11 Mar 2021

Government has secured support from the United Nations Economic Commission for Africa (UNECA) to develop Botswana’s African Continental Free Trade Area (AfCFTA) national implementation strategy.

This was said by President Dr Mokgweetsi Masisi when giving a keynote address at the 2021 Africa private sector summit held virtually on Wednesday.

He said the strategy would enable the country to harness competitive advantage for sustainable beneficiation under the AfCFTA agreement.

President Masisi said Botswana was also at an advanced stage in developing an e-commerce strategy which would facilitate trade using digital platforms.

AfCFTA, he said,  provided a platform for Botswana’s small, medium and micro enterprises (SMMEs) to integrate into the regional economy, accelerate women’s empowerment and facilitate growth in the services sector.

The agreement also provided market access to the larger continent and presented job opportunities for Botswana, he said.

President Masisi said Botswana’s geographic location, coupled with an integrated transport network and information and communication technology also presented opportunities  under AfCFTA.

He stated that the recently completed Kazungula Bridge linking Botswana and Zambia over the Zambezi River would contribute immensely towards trade facilitation in the whole region.

“The bridge with its adjacent one-stop border facilities will provide the necessary trade connection route between the southern and central parts of Africa as well as stimulate intra-Africa trade,” he said.  

Meanwhile, President Masisi has urged the African Union Commission to fast-track finalisation of AfCFTA protocol on investment aimed at harmonising policies to remove trade barriers.

He said harmonisation of investment policies would enable the continent derive optimal economic benefits from AfCFTA.

Measures such as improved access to finance for SMMEs, women and youth, facilitating cross-border trade, enhanced access to information and technology for businesses and investment in research and development should be in place, he said.

The President further noted that some of the lessons learnt from the COVID-19 pandemic were the need for resilience and the significance of ICT, both as a commodity and an enabler of trade.

During the pandemic, there was proliferation of trading platforms and other digital solutions that enabled fighting the pandemic and continued trading, he noted.

Stressed the importance of ICT, Dr Masisi encouraged African countries to take deliberate steps to invest in the digital sector and address policy constraints to unleash the entrepreneurial spirit of young people.

“It is important to highlight that ICT is a space dominated by the youth who should be nurtured to develop their talents and embrace home grown innovations,” he stated.

The summit was held under the theme: “Strategic Opportunities for Doing Business in Africa for Maximum Impact – Economic Empowerment and Development.

Organised by the Pan African Chamber of Commerce and Industry in collaboration with other regional and continental organisations and business associations, it provided a platform for dialogue on policy reforms that can advance AfCFTA’s economic transformation goals. ENDS