At the South Africa-Botswana Business Roundtable held at the Gaborone International Convention Centre in the Republic of Botswana, President Cyril Ramaphosa successfully coordinated bilateral negotiations with President Mokgweetsi Masisi.
On August 3, 2022, the South Africa-Botswana Business Round Table took place. It was preceded by the Business Forum, which improved bilateral relations between the two nations in terms of trade, investment, and potential joint ventures.
President Ramaphosa welcomed the 9 FDI projects from Botswana to South Africa valued R3,9 billion over the previous ten years as part of the two-day business engagement celebrating 28 years of diplomatic, cultural, and economic cooperation under the theme “Tirisanyo Mmogo.”
The Fifth Session of the South Africa-Botswana Bi-National Commission (BNC), which was held on April 22, 2022 in Tshwane, serves as the backdrop for the High Level South Africa-Botswana Business Roundtable.
“Even as our bilateral relations have grown stronger over the years, we want to see far greater levels of trade and investment between our two countries.
“As we noted earlier, South Africa’s foreign direct investment stock in Botswana reached $5.1 billion last year.” President Ramaphosa said.
Business leaders from the two sisterly nations took part in the South Africa-Botswana Business Round Table, which was presided over by the two Heads of State, in order to identify ways to address trade and investment barriers as well as to improve collaboration between the public and private sectors in order to maximize localization, export promotion efforts, and industrialisation.
The 129 km Lephalale-Mambule train project, which would strengthen regional value chains, will be funded by a possible joint public-private partnership investment of both governments, according to President Ramaphosa.
The President also urged for quickening investment in development projects that are catalysts, notably in infrastructure that benefits industries like manufacturing, logistics, tourism, and technology.
President Ramaphosa emphasized that the Southern African region, with its wealth of natural resources and human capital, has the potential to stand out internationally as an economic bloc in a variety of fields of specialization.
In the Southern African Customs Union (SACU) effort to establish industrial value chains for leather and leather products, textiles, fresh produce, meat and meat products, clothes, cosmetics, and essential oils, President Ramaphosa voiced optimism.
The President urged youth and women-owned enterprises to participate in these value chains in order to boost the economies of both nations.
The President also applauded Botswana’s announcement that it would open all border crossings to South Africa after COVID-19 requirements were relaxed, which will hasten trade and economic recovery between the two nations.
Minister of International Relations and Cooperation Dr. Naledi Pandor, Minister of Trade, Industry, and Competition Ebrahim Patel, and a South African business delegation that included representatives from the pharmaceutical, automotive, manufacturing, and agricultural industries were in attendance with President Ramaphosa.