Trade Minister implores WFDFI delegates to invest in Botswana
Botswana’s Minister of Investment, Trade and Industry Hon. Vincent Seretse yesterday urged delegates at the Joint Forum of Chief Executive Officers of the World Federation of Development Finance Institutions (WFDFI) to invest in his country as it is an internationally renowned investment destination.
When delivering the welcome remarks at the opening ceremony of the WFDFI CEO Forum, Hon. Seretse said it would be remiss of him as Minister of Investment, Trade and Industry not to urge potential investors to choose Botswana as their investment destination. He said Botswana is globally renowned as Africa’s shining example of democracy because of its political stability and respect for justice, peace and security.
“Botswana is one of the safest and most secure countries you can ever visit. We are internationally renowned for our strong governance and we harbour a deeply ingrained anti-corruption culture,” he said.
He further said renowned international rating agencies like Standard and Poor’s and Moody’s continue to award Botswana top-level credit ratings for both positive economic outlook and political stability. On the financial front, Hon. Seretse told delegates at the WFDFI CEO Forum that Botswana does not have foreign exchange controls or restrictions on capital outflows. To preserve value for investors while maintaining its global competitiveness, Botswana has also maintained its inflation rate within set parameters.
He highlighted the substantial investments that the country has made in the ICT sector, which have made its infrastructure to compete with the best in the region. Botswana’s financial and capital markets are among the most sophisticated in Africa, said Hon. Seretse, adding that the country’s financial services sector is very advanced.
“In both the public and private sectors, a number of legislative enactments and tripartite agreements guide dispute resolution, resulting in low levels of labour related disputes between employers and employees,” said Hon. Seretse.
As proof of government and the private sector’s commitment to economic development, Hon. Seretse pointed to the presence of the country’s high level leadership from both government and the private sector. He further urged delegates to tour the capital city, Gaborone and enjoy the country’s internationally renowned tourism offering.
The WFDFI Joint CEO Forum is a biennial event that brings together participants from WFDFI member Associations, CEO’s, government officials as well as representatives from central banks and private financial institutions.
Noting the threat that DFIs find themselves facing in the age of disruption, Hon. Seretse urged delegates to strategize deliberate and forge closer linkages that will enable them to come up with actionable deliverables which will aid governments in assessing the sustainability of DFIs and the operational frameworks needed to move them forward.
For further clarification or enquiries regarding the just ended WFDFI CEO Forum kindly contact:
Mr. Leatile G. Bakwena
Communications Manager
Tel: +267 3170895
Cell: +267 72323286
Email: lbakwena@ceda.co.bw
