12 Sep 2023

The Bahamas has been described as an ideal development partner for Botswana.

Speaking in an interview on the sidelines of President Dr Mokgweetsi Masisi’s state visit to the Caribbean Island Minister of Foreign Affairs Dr Lemogang Kwape said the two nations will explore areas of possible cooperation.

“President Masisi is here with us at the invitation of the Prime Minister of The Commonwealth of the Bahamas Mr Phillip Davis. Despite the geographical location, it is a high middle-income developed nation with a lot in common with us. We are looking forward to fruitful talks and cooperation,” said Dr Kwape.

He said the most palpable area of cooperation between the two nations was tourism as the hosts had developed a flourishing tourism industry with about 70 per cent of employment attributable to the sector.

“Tourism accounts for about 70 per cent of the GDP. The aquaculture industry is also pleasing to note. Botswana has a lot of areas earmarked for the development of the fish farming component and we hope to learn a lot from The Bahamas. The Bahamas has a flourishing aquaculture industry and is blessed with the waters,” he added.

He added that the industry had the potential to contribute to the upliftment of livelihoods if fully explored. Botswana is promoting the development of a viable and sustainable aquaculture industry as a way of economic diversification.

Dr Kwape said Botswana could also borrow a leaf from the Caribbean nation as it made significant strides in the education sector.

“Some Batswana especially those in the medical field schooled here and some are even working here. The nation also has an established financial sector which Botswana is willing to learn from,” he added.

The Bahamas is one of the top International Financial Centres (IFCs) in the Latin America and Caribbean region respected for its expertise in fiduciary services.

The financial sector is estimated to be the second largest contributor to the economy of The Bahamas.

A Memorandum of Understanding between the Botswana Investment and Trade Centre and the Bahamas Financial Services Board could be considered to facilitate collaboration in the financial services sector between the two as Botswana has set up an international financial service centre to enhance economic diversification strategy.

Dr Kwape said as Botswana was the oldest in terms of self-rule and democracy, The Bahamas could learn a thing or two. 

He said Botswana had made commendable strides in the dispensation of democracy.

He said President Masisi had been invited to give a presidential lecture at the University of Bahamas.

The audience is expected to comprise Bahamian cabinet ministers and students among others. 

It is expected to cultivate the exchange of knowledge and skills with Botswana’s institutions of higher learning. President Masisi will make an address on strengthening democracy to develop the next generation of leaders. ends