Africa-Press – Botswana. President Advocate Duma Boko has encouraged Africa to collaborate more and work to promote economic integration for the development of the continent.
Speaking after a tour of textile factory shells in Maseru on Tuesday, he noted that Africa possessed significant potential to industrialise and revitalise its economy.
Through the African Continental Free Trade Area (AfCTA), President Boko said Africa should begin to cultivate stronger channels of collaboration in order to exploit its market of 1.4billion inhabitants.
He said this in the wake of uncertainty over looming tariffs that United States of America was proposing to impose on Lesotho that was pegged at 50 per cent.
President Boko said the continent should focus more on strengthening relations and partnerships in order to reshape the economic landscape.
“Prospects are promising with strategic thinking among ourselves and broader Africa,” he said.
President Boko said through Africa digital payment platforms, Africans should be able to trade amongst themselves, use their own currencies and avoid routing transactions that called for administration charges.
Equally he asserted that when Africans trade among themselves they would be free from over reliance on other nations.
He said it was crucial that Africa should manage itself, exploit richness of the collaborations, learn from each other and not fear competition.
Meanwhile the Minister of Trade, Industry and Small Business, Mr Mokhethi Shelile said he was concerned that 12 000 plus jobs hang in the balance, should the looming tariffs over Lesotho by the US be imposed.
He said the Lesotho textile industry was thriving and was already diversifying and targeting to export their products to automobile industries across the world.
Mr Shelile said the impact of US tariffs could lead to potential job losses as many factory faced closure.
“I am worried about the impending tariffs, we are waiting for the verdict” he said.
Manager of Afri-Expo Textiles, Mr Teboho Kobeli said Lesotho was ready to partner with Batswana to exploit the ever increasing textile market regionally and internationally.
He said the looming tariffs by the US government should be a wakeup call to Lesotho and African continent to work together and grow the industries by trading more within the continent.
Mr Kobeli called on government and private sector to support textile industry that was battling with capital to meet demands.
Afri-Expo Textiles – a partnership between government of Lesotho and a local company boasts of expertise and vast experience in textile industry. The company that started with 60 people currently has 2 000 employees.
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