24 Jul 2022

Through participation in the just-ended US Africa Business Summit, Botswana seized an opportunity to widen the investment net with potential US investors.

President Dr Mokgweetsi Masisi said this in an interview post the summit’s 14th edition held in Morocco July 19-22.

The President, who led a six-person strong cabinet delegation to the summit, said Botswana would derive benefits from contacts made at the meet.

“America is a first world country with a big economy and this puts us in a good space as a country to always get attracted to them and hear what solutions they can offer to widen our investment paths and grow the economy,” he said.

The President said US investors presented a wide array of business opportunities to be tapped into while the summit offered Botswana maximum exposure and networking opportunities through its country forum sessions.

“I believe in competitiveness and it is important for Batswana to go all out when doing things,” he said.

According to Dr Masisi, one of the key takeaways from the summit was that for Batswana to increase exports, they needed to keep abreast  of other countries’ business regulatory frameworks.

Describing the summit as the largest and most influential US conference on doing business and investing in Africa, the President said it differed from other business meetings he had previously attended.

“The summit is also different because it provided the continent with exclusive access to American investors and enterprises,” he added.

The President emphasised the need for Botswana to be part of such gatherings in order to re-establish important business contacts with America, particularly since the summit convened after a two-year COVID-19 induced dry spell of face-to-face contacts.

He said the organisers,  US’ Corporate Council on Africa, laid the ground for African countries to forge partnerships as well as chart new investment paths.

The cabinet delegation, comprising trade and industry minister, Mr Mmusi Kgafela, local government and rural development’s Mr Kgotla Autlwetse, health minister, Dr Edwin Dikoloti and assistant ministers Mr Dumezweni Mthimkhulu, Mr Buti Billy and Mr Molebatsi Molebatsi for state president, youth, gender, sport and culture and agriculture respectively, had the opportunity to interact with some leading US agencies.

 The interactions created leads which would be followed up and there is optimism that positive takeaways from the summit will assist to propel the economy to greater heights.

The summit brought together heads of state, senior government officials, private sector executives, international investors and multinational stakeholders to explore renewed commitment to build stronger US-Africa trade, investment and commercial ties, particularly in a post-COVID-19 context.

The summit was held under the theme: Building Forward Together, and it lined up activities that allowed attendees to engage on key US-Africa economic issues. Ends