- Presidents Masisi and Tschiskรฉdi note how their countries are endowed with vast mineral resources
- The two countries plan to collaborate in mining, agriculture, tourism and infrastructure, among others
Botswana signed a Memorandum of Understanding (MOU) with the Democratic Republic of ย Congoโs (DRC) national investment promotion arm during the recent Botswana-DRC Business Forum that was held on the margins of DRC president Felix Tschiskรฉdiโs inaugural state visit to the country.
The MoU aims to explore business opportunities and strengthen economic ties between the two countries. The CEO of Botswana Investment and Trade Centre (BITC), Keletsositse Olebile, signed on behalf of BITC and Botswana while the Managing Director of the DRCโs Investment Promotion Agency, Anthony Nkinzo Kamole, signed on behalf his country. Both countries noted that theย MoU aims to promote trade and investment between Botswana and the DRC, as well as to foster collaboration in various fields such as mining, agriculture, tourism, and infrastructure.
The agreement also outlines plans for exchange of information and expertise, joint ventures, and establishment of a joint business council to enhance private sector engagement. Addressing delegates during the presidential session of the business forum, both President Mokgweetsi Masisi of Botswana and President Felix Tschiskรฉdi of the DRC described the latterโs visit as the beginning of strong economic and political ties between Botswana and the DRC which will further strengthen bilateral ties.
President Masisi noted that it was disturbing that economic and trade relations between the two countries have stagnated over past years despite their common interests that include abundance of mineral resources.ย โBoth Botswana and the DRC have been blessed with abundant mineral resources and it only makes sense to collaborate in areas of mining and mineral beneficiation through the use of cutting-edge technology,โ he emphasised.
The President characterised Botswana as a true champion of transparency – particularly in the rough diamond trade – that has taken a bold step to strengthen its diamond value chain that includes cutting and polishing of diamonds in the country. โTo demonstrate this resolve, Botswana established the Okavango Diamond Company (ODC), our very own homegrown rough diamond marketing company that is wholly owned by the Botswana Government,โ he stated.
For his part, President Tschiskรฉdi said his countryโs mining industry in general and the diamond sector in particular needs to be completely rehabilitated. โBeing endowed with such an abundance of mineral resources means the DRC has to change the paradigm in order for its mineral and mining sector to rightfully benefit its citizens,โ he stated. He noted that Felix Tschiskรฉdiโs learned a lot in management of national natural resources during his visit to Botswanaโs state-of-the-art mines.
Meanwhile, in his presentation at the Botswana-DRC Business Forum, the chief executive of BITC Kelotsositse Olebile highlighted that despite its small population, Botswana is a gateway to a large market through various bilateral and multilateral agreements. He said such agreements can give the DRC access to more than 293 million consumers in the SADC region as well as duty and quota-free access to more than 61 million consumers through the Southern African Customs Union (SACU). He said in addition to mineral products, Botswana has ย beef, canned beef, salt and soda ash, aluminum boats, as well as organic fertiliser as locally produced goods with a huge export potential to the DRC.
His guest, Nkinzo Kamole, said that the DRC has achieved significant milestones over the past decade to improve the business climate and remove barriers to doing business. He noted that his country has the advantage of being in a geostrategic position that makes it an access point to several African countries and to a vast market of over 250 million potential consumers in the heart of the continent. โThere has been a positive evolution of our international macroeconomic ratings as well as key governance reforms carried out to ease doing business in the DRC,โ Kamole asserted.
He urged Botswana’s private sector to take advantage of the rice, wheat, and corn demand in the DRC, highlighting that demand is largely covered by imports which creates a significant market due to the lack of domestic supply compared to demand. Kamole additionally outlined other commercial opportunities in the high-risk insurance industry as well as in the countryโs private health sector which he said include the construction of medical facilities, supply of medical equipment, and pharmaceuticals.
