Africa-Press – Botswana. President Dr Mokgweetsi Masisi’s extensive external travel is gradually bearing fruit.
This was revealed by the President during a press conference in Gaborone.
He said his trips to international destinations were part of government efforts to seek investment and beneficial partnerships vital for reviving the economy, economic diversification and development of a private sector led economy.
“This informed extensive travel as the country’s chief diplomat, was to engage the international community and seek investors. I believe presidential power and authority has to be used extensively for the benefit of the country,” Dr Masisi said.
President Masisi said one of his recent trips, to Addis Ababa, Ethiopia for the 36th African Union (AU) summit, saw Botswana ratifying the African Continental Free Trade Area (AfCFTA) agreement thereby joining the world’s largest free trade area with a market of 1.3 billion people.
Botswana also assumed the position of AU second vice chair which gave President Masisi an opportunity to briefly chair the summit proceedings.
Bilateral meetings included one with Namibian president Mr Hage Geingob and a special envoy of the president of South Korea, Mr Yoon Suk-yeol.
President Masisi revealed that for his Ethiopian trip, he had flown commercial with an economy class ticket in order to save costs.
He further revealed that government planned to develop a formula to reduce international travel costs incurred through trips by cabinet ministers and senior government officials.
Detailing his latest trip, to the United States, Dr Masisi said it was a follow up engagement with Mr John Olajide, a Nigerian born American based entrepreneur and other American business people and companies.
The local private sector was part of the entourage as a learning opportunity and a way of gaining exposure, he said.
President Masisi said in Houston, Texas his delegation was able to learn about quality beef production as well as cattle and small stock genetics.
He said negotiations were currently underway for a possible partnership with a company dealing in sexed semen artificial insemination.
It entailed the harvesting of semen and separation of male and female cattle chromosomes, explained Dr Masisi.
He said in addition, investment in the cattle industry value chain and livestock genetics improvement, including cloning and early flushing technology, were explored.
On the country’s challenges, Dr Masisi mentioned rising unemployment and the high cost of living in the aftermath of the COVID-19 pandemic.
He noted that inflation reached double digit levels, well over the Bank of Botswana medium to long term threshold of three to six per cent.
The President reminded his audience that government put in place mitigation measures among them wage subsidies, special funds to assist small, medium and micro enterprises and reduction of Value Added Tax from 14 to 12 per cent.
Normal state subsidies were extended to the water, electricity as well as the fuel and lubricants sectors, he said adding that citizens also benefitted from state investment in public health and education.
The Economic Recovery and Transformation Plan and the Reset Agenda were formulated in order to put Botswana back on an upward development trajectory.
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