02 Nov 2022

Global Expo Botswana 2022 provides a platform for securing mutually beneficial investment deals, says President Dr Mokgweetsi Masisi.

 He therefore implored participating investors, manufacturers, entrepreneurs, financial institutions and SMMEs to explore profitable business and joint venture opportunities.

Officially opening the four-day business showpiece in Gaborone yesterday, Dr Masisi said the expo  was also an opportune time for government to attract investment for industrial development to drive  Botswana’s self-sufficiency ambitions.

The country, he said, recognised that its next growth phase required economic restructuring and development of  value chains driven by technological transformation.

 “To this effect, my government has adopted an ambitious digitalisation strategy to transform the economy and improve the livelihoods of our people,” said Dr Masisi.

Government, through the Reset Agenda, has embarked on the development of digital infrastructure driven by SmartBots, a digital transformation strategy.

 One of the key projects under the strategy is the village connectivity project aimed at providing government institutions, schools and health facilities in over 500 villages with Internet and Wi-Fi.

Completion of the project, the President said, would enable government to provide services online and open opportunities for the private sector. 

“We expect the private sector to embrace and take advantage of the opportunities provided by this digitalisation strategy to achieve greater efficiency,” Dr Masisi noted.

Noting Botswana’s aspirations of transforming into a knowledge-based economy as well as a high income country by 2036, the President said government’s focus was on developing domestic and regional value chains.

 Sectors identified for value chain development included automotive and components manufacturing, e-mobility solutions, meat and meat products, fruits and vegetables, leather and leather products, textile and clothing, financial services and pharmaceuticals.

To that end, the President  said, government remained committed to improving and creating a conducive environment to enable the private sector to thrive.

 “We have made significant improvements in our laws and policies. These include among others, the strengthening of our anti-money laundering legislation and streamlining government institutions to improve public service delivery,” Dr Masisi said.

He said government was also resolute in providing investors with a secure business environment with an exceptional return on investment, sound legal systems, low tax rates, easy movement of capital and access to a market of over 300 million people in the SADC region alone.

Meanwhile, President Masisi has commended Afreximbank, president and board chairman Professor Benedict Oramah for attending the 17th Global Expo Botswana.

The gesture testified to the importance Botswana attached to relations and interactions with the global village, said the President.

 Dr Masisi said Prof. Oramah’s participation at the event was appropriate as Africa had embarked on a transformative journey of integration into a single market as articulated in the Africa Continental Free Trade Area (AfCFTA) and Africa’s Agenda 2063.

 “The vision and aspirations contained in these strategy frameworks remain the propelling factor for transforming our continent into a global powerhouse, which is an Africa that seeks unity, self-determination, freedom, progress, and collective prosperity,” Dr Masisi stated.

For his part, Prof. Oramah expressed the hope that Botswana would continue participating actively in the largest physical marketplace for Africa which had proven extremely effective in promoting intra-regional trade and investments.

He said Afreximbank was fully committed to expanding access to trade information across Africa so that the intra-African share of the continent’s total trade could rise from approximately 16 per cent to near-term goal of 25 per cent. 

“That is why we launched the biennial intra-African trade fairs in partnership with the African Union Commission and the AfCFTA secretariat,” Prof. Oramah said. ends