• BUSINESS
Her excellency homed in on the close bi-lateral ties between South Africa and Botswana based on years of co-operation and a common vision of deepening regional integration . Diplomatic relations were first established in 1994 and then upgraded in 2012 , through the establishment of the Bi-National Commission ( BNC ), which has resulted in the two countries signing 40 agreements to date , and having an additional 14 other agreements still under negotiation .
In 2023 South Africa exported goods and services worth USD4.2- billion to Botswana with the inverse from Botswana amounting to USD634 -million . The disparity in the balance of trade between the two countries is further exacerbated by the fact that most of Botswana ’ s imports pass through South African ports . 4
In line with her wish to mitigate this imbalance , Monageng urged South African investors at the Seminar in the sectors of mining , manufacturing , ICT , finance , agriculture , tourism , health and services to explore the myriad business opportunities in Botswana . “ These sectors happen to be some of the investment priority sectors identified to grow the Botswana economy to a high-income economy by 2036 , as indicated in Botswana ’ s longterm National Vision , Vision 2036 ,” added Monageng .
Arlene Wilson-Max , director Innovative Entrepreneurs – instrumental in the organisation of the seminar – added that part of her company ’ s mandate was to promote market access into Africa , create networking platforms and to facilitate trade missions , while supporting sustainable development goals – and much more .
Working closely with the Botswana High Commission and the BITC , she explained that the Botswana Country Focus Seminar , is merely the first phase of interaction , followed by second-phase participation in focus groups for parties interested in doing business in the country , and culminating in a phase three facilitation of either incoming or outgoing trade missions , where Botswana companies are either brought through to South Africa to meet interested parties , or the inverse takes place .
Wilson-Max explained that with additional involvement from the Gauteng Growth and Development Agency , the DTIC for EMEA ( both entities present at the seminar ) and Sida , further support and funding is also possible down the line .
Overview – modalities of trade in Botswana Setting the scene for modalities of trade in Botswana , Bobo Senosi , director International Business – RSA at the BITC noted Botswana ’ s approximate GDP per capita at USD6 581 ( Prices 2022 ) – ranking Botswana amongst the top five countries on the African continent and attesting to its purchasing power – with targeted inflation ranging between 3 and 6 % ( 3.7 % in 2024 ), the monetary policy rate at 1.9 % and the prime rate at 6.01 % 5 .
In terms of output , the country ’ s GDP averages at around USD20- billion – largely driven by the mining , construction , wholesale and retail sectors as well as government spending – with 80 % of exports driven by minerals , mostly diamond revenue . The cyclical nature of the mineral sector therefore creates challenging
24 • African Mining • February 2025 www . africanmining . co . za