Africa-Press – Botswana. By diversifying economies, promoting value addition and creating an enabling environment for industrial growth, Africa can unlock the full potential of its natural resources and participate more effectively in global value chains, thus driving sustainable development and prosperity for its people.
President Dr Mokgweetsi Masisi made the observation when officially opening a High Level Continental Dialogue on Comparative Mineral Resource Governance in Africa.
He said factors such as inadequate infrastructure, limited access to capital and technology, lack of skilled labour, governance issues, and extractive oriented economic models, had all contributed to Africa’s reliance on exporting raw materials rather than processing and adding value to them locally.
He said addressing the challenges required a holistic approach that involved promoting industrialisation, investing in education and skills development, fostering innovation and technology transfer, improving infrastructure, enhancing governance and regulatory frameworks, and fostering partnerships between governments, private sector and international organisations.
“Botswana stands as an outlier to a fair portion of what has become a negative global narrative relating to the correlation between endowment with natural resources, and the expected development dividend. Botswana stands ready to humbly offer its experience as one that illustrates that mineral resources if well managed, have the potential to improve a nation’s economic and social development trajectory,” he said.
Dr Masisi said Botswana’s unique position as a country that had effectively managed its mineral resources for sustainable development served as a valuable example for others facing similar challenges.
He said sharing Botswana’s experiences and best practices could be beneficial for fostering dialogue, knowledge exchange and capacity building among nations seeking to maximise the benefits of their natural resources.
He said through collaboration countries could work towards building resilient economies, promoting inclusive growth, and ensuring that resource wealth translated into tangible improvements in the well-being of their citizens.
President Masisi said Botswana had used its sizeable mineral resources including, but not limited to, diamonds, coal, copper, manganese, iron-ore, gold, and coal bed methane towards development projects.
“Botswana has re-invested its mineral wealth in education and health, in building robust road, rail and other infrastructure, in creating policies aimed at empowering Batswana and diversifying the economy, and in maintaining an unparalleled commitment to continuous and uninterrupted elections underpinned by an anti-corruption culture,” he said.
He said it was important to highlight the role that legislation played in the successful implementation of the country’s socio-economic development vision.
He said Botswana’s mining legislation stood out as one of the oldest and most advanced frameworks on the continent.
“It dates back to the 1969 Mines and Minerals Act, which underwent significant amendments in 1970, to bolster state oversight of minerals and revenue collection.This robust legal framework not only guides the sustainable management of mineral resources, but also reinforces transparency and ensures that the mining sector’s benefits contribute meaningfully to Botswana’s overall development agenda,” he said.
President Masisi recognised the prevailing challenges faced by many African countries due to the ‘resource curse’, where natural resources particularly minerals had led to internal divisions rather than fostering national development and unity.
He said Botswana took pride in its track record of avoiding the negative label associated with some mineral rich nations but had not been immune to the challenges that often accompanied such endowments.
He said the conference presented a timely opportunity for the continent to join forces in ensuring that the benefits of development reached all citizens, leveraging the potential of valuable natural assets for progress and prosperity.
The inaugural meeting is held under the theme: Towards Sustainable Development: Harnessing Africa’s Mineral Wealth for Economic Growth, Social Equity, and Environmental Responsibility.
dailynews
For More News And Analysis About Botswana Follow Africa-Press
