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    Karateka targets international titles

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    Karateka targets international titles

    Botswana gears up for high-stakes Gabs Open karate showdown

    Orange Botswana Awards P390,000 to Historic 4x400m Relay Champions, Coaches & BAA

    Orange Botswana Awards P390,000 to Historic 4x400m Relay Champions, Coaches & BAA

    Eppieโ€™s breakthrough hints at a brighter future for Botswanaโ€™s 400m

    Eppieโ€™s breakthrough hints at a brighter future for Botswanaโ€™s 400m

    Under Babitseng BFA will be transparent and accountable

    BFA slashes deficit and eyes bright future with financial reform and football revival

    Sports chief raises alarm over doping spike amid Region 5 triumph

    Sports chief raises alarm over doping spike amid Region 5 triumph

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Botswana ready for a multi commodity exchange

Speaking at the Ghanzi Agriculture Show, both President Mokgweetsi Masisi and SEZA chief executive Lonely Mogara lauded establishment of an MCX as a platform that will result in information asymmetries being reduced and intermediaries eliminated from Botswanaโ€™s market structure

mm by Staff Writer
August 19, 2022
in News
Reading Time: 2 mins read
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SEZA headlines Ghanzi show

SEZA Chief Executive Officer (CEO) Lonely Mogara

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Botswana has locational and cooperative advantages that motivate for establishment of a multi commodity exchange (MCX) platform.

According to the Special Economic Zones Authority (SEZA), Botswana has six production special economic zones (SEZs) that can be optimised by setting up a consummated commodity exchanges platform that will remove barriers to integration, upgrade value chains and remedy the countryโ€™s fragmented and informal market structure.

Speaking at the just-ended Ghanzi Agriculture Show, President Mokgweetsi Masisi and SEZA Chief Executive Officer (CEO) Lonely Mogara were in sync in lauding the MCX as a worthy investment that will spur the national economy by reducing information asymmetries and eliminating intermediaries through easy dissemination of market prices.

โ€œThe MCX will facilitate economic inclusion by providing a well-coordinated framework that involves all key stakeholders like farmers, business, financiers as well as the public and private sector,โ€ said President Masisi. He urged Batswana to change their mindset and embrace digital technologies and applications that can embed vast amounts of knowledge and skills for smart and efficient farming that yields high returns. โ€œDigitisation is the way to go if we are to be more productive and food self-sufficient,โ€ he added.

For his part, the chief executive of SEZA Mogara described the MCX as an organised marketplace where buyers and sellers come together to trade. Among other citizen empowerment attributes, he added, the MCX will unlock opportunities for new high growth companies and employment creation. โ€œThe platform will accommodate both hard and soft commodities – where soft commodities are from the agriculture sector and hard commodities are from the mineral sector,โ€ he said. โ€œThis will remedy our informal market structures, remove barriers to integration and upgrade value chains. SEZA will work very closely with the Ministries of Agriculture, Minerals and Entrepreneurship to ensure a smooth rollout of this initiative.โ€

The platform, said Mogara, will facilitate the development of value chains as commodities will be processed before being passed to user industries in both local and export markets. In the context of Africa, an MCX would boost intra-regional trade, thereby enabling Botswana to exploit the market opportunities offered by the African Continental Free Trade Area (AfCFTA) โ€“ which comprises 55 countries with an estimated 1.3 billion consumers and a combined GDP of around $3.4 trillion.

SEZA was one of the headline sponsors at the Ghanzi Agriculture Show. According to statistics from the agricultural vaccination rollout of 2021/22, Ghanzi had 161, 833 beef cattle, 16,079 sheep and 31, 887 goats. โ€œTherefore, Ghanzi is a key cluster that feeds into the Lobatse SEZ, which is themed as a Meat & Leather City at which key economic activities such as leather production, meat processing as well as dairy production will take place,โ€ Mogara noted. The government has so far committed P379 million to development of the Lobatse Leather Park while SEZA has completed the master planning of the Lobatse SEZ at a cost of P8.5 million.

Tags: Lonely MogaraMokgweetsi MasisiSpecial Economic Zones Authority (SEZA)

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