Africa-Press – Botswana. The long-standing De Beers-Botswana partnership is the primary reason the Southern African nation has managed to emerge from absolute poverty to its current upper middle-income status, says President Dr Mokgweetsi Masisi.
Dr Masisi, who was in Nigeria for the inauguration of President Bola Tinubu, said this during a Corporate Council on Africa business meeting held at Abuja’s Transcorp Hilton Tuesday.
He attributed the long-standing relationship to Botswana’s faithfulness to its business partners and its negotiating skills.
“We value De Beers, nobody must make a mistake about it. They helped us grow. They value us because we helped them become successful. They know it, we know it,” he said disclosing that the two parties were currently engaged in deep contractual discussions.
The President said emerging complexities such as COVID-19 left Botswana government with no choice but to reset hence value-chain development had become a major part of the country’s growth.
According to Dr Masisi, the country’s way of thinking had changed a great deal from exporting raw materials to the notion of value addition.
On another issue, he termed the current bilateral trade status between Botswana and Nigeria awful and challenged the two nation’s entrepreneurs to use the business platform to turn it around.
Botswana and Nigeria, both signatories to the African Continental Free Trade Area (AfCFTA) agreement, needed to work hard to also improve intra-Africa trade currently at a paltry three per cent, he said.
Dr Masisi said Botswana was ready to facilitate the Nigerian business community to do business within its shores but hastened to inform his audience that doing business in the country required following due process and existing policies and frameworks.
The President extended an invitation to captains of industry and corporate executives to grace the US/Africa business summit slated for July 11-14 in Gaborone.
The summit would present a perfect avenue for business networking with a view to having companies set up in Botswana, he said.
Botswana, Dr Masisi said, was the best place to do business having built strong ecosystems to protect any form of investment.
“You are safe in Botswana and so is your money. We make no pretensions for your capital, whether human or financial. Our law protects it,” President Masisi assured his audience.
He also used the occasion to applaud Nigerians for the peaceful and seamless transfer of power during Monday’s inauguration.
“I wish to start by expressing on my behalf and the people of Botswana and the delegation that I lead our personal heartfelt thanks for your exceptional hosting and exemplary inauguration. What a delight for Nigeria when you witness such a smooth transition from one civilian leader to another,” he said.
President Masisi said Botswana’s presence at the ceremony spoke to the country’s determination to further strengthen relations between the two nations.
In her welcome remarks, a member of the council, Dr Temitope lluyemi, who is also global government relations general manager for Africa at Procter and Gamble, concurred that the July 11-14 summit presented a perfect opportunity for Nigerian companies wishing to do business in Botswana.
She said the summit theme; Enhancing Africa’s Value in Global Value Chains, was a critical topic in the context of the implementation of AfCFTA.
“To maximise Africa’s full potential there is need for cross-continental collaboration on trade and partnerships in finished goods and raw materials,” said Dr Iluyemi.
She said the meeting was the right avenue to explore how best the two countries could engage each other and do business better.
King Oba Adeyeye Enitan Ogunwusi said in his goodwill message that it was imperative for Africans to dialogue and formulate synergies in order to improve their livelihoods.
Any stereotypes and myths that polarise Africans must be done away with once and for all for progress’ sake, he said.
Most of the meeting’s attendants showed eagerness to attend the US/Africa summit to explore business avenues.
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