Africa-Press – Botswana. Africa holds immense potential for industrialisation and economic revitalisation, says President Advocate Duma Boko.
The President said this during a tour of textile factory shells in Maseru on Tuesday. He emphasised the importance of stronger inter-African partnerships and economic integration.
He highlighted the African Continental Free Trade Area (AfCFTA) as a key platform for Africa to harness its 1.4 billion population and expand its market. President Boko urged African leaders to cultivate effective channels of collaboration to capitalise on regional opportunities, amid uncertainties over impending US tariffs that threatened Lesotho’s textile sector.
“Prospects are promising with strategic thinking among ourselves and broader Africa,” he said. He underscored the need for the continent to focus on strengthening relations and forming mutually beneficial partnerships to reshape its economic landscape.
The President also emphasised the importance of digital payment platforms, suggesting that Africans should be able to trade amongst themselves using their currencies, circumventing international transaction charges.
“When Africans trade among themselves, we reduce our reliance on other nations,” he added.
Despite the challenges, Boko remained optimistic that ‘prospects are promising even as the situation looks ominous.’ He warned that effective management and exploitation of Africa’s collective resources and knowledge were essential, urging the continent to learn from each other and embrace healthy competition.
Meanwhile, Lesotho’s Minister of Trade, Industry, and Small Business, Mr Mokhethi Shelile, expressed concern over the potential loss of more than 12 000 jobs if the US proceeded with the proposed tariffs on Lesotho, which could reach as high as 50 per cent.
He praised the growth of Lesotho’s textile industry, which was diversifying its markets and targeting automobile industries worldwide. However, Shelile warned that the imposition of US tariffs could lead to factory closures and significant unemployment.
“We are awaiting the verdict, and I am terribly worried about the impending tariffs,” he said.
Mr Teboho Kobeli, Manager of Afri-Expo Textiles, emphasised Lesotho’s readiness to partner with Botswana to expand regional and international textile markets. He called on both governments and private sector stakeholders to support the textile industry, which currently faced capital challenges to meet growing demands.
“Looming tariffs by the US should serve as a wake-up call for Lesotho and the entire continent to work together, increase intra-Africa trade, and strengthen our industries,” Kobeli said.
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