Connect with us

Business

Bots, Zim explore trade opportunities

Published

on

Top government officials from Botswana and Zimbabwe as well as captains of industry from both countries this week embarked on a journey that is expected to see the countries taking advantage of trade and investment opportunities that exist between the two. Though Zimbabwe is said to be one of Botswana’s leading trade partners in the region, there has been a decline in trade between the two countries in recent years.

Speaking at the Botswana-Zimbabwe Business Forum on Tuesday, Minister of Investment, Trade and Industry, Vincent Seretse said Botswana’s export to Zimbabwe declined by nine percent on a cumulative basis from P827 million to P555 million between the period 2012 to 2016. Imports from Zimbabwe into Botswana on the other hand also followed a similar pattern and fell by eight percent cumulatively from the same period with the overall balance of trade in favour of Botswana. Botswana’s recorded export basket to Zimbabwe comprises of salt, veterinary medicine, live animals, vehicles among others. Zimbabwe however, has been a consistent source of timber, sugar and cement for Botswana.

Seretse said currently, there are several companies with Zimbabwean shareholding operating in Botswana’s manufacturing industry. The majority operate in the timber and sugar packaging industries. “These companies have over the years invested around P132 million in Botswana with an estimated annual turnover of P392 million,” Seretse said, adding that these companies have employed around 436 permanent employees and an additional 436 part-time employees.

This, according to Seretse, excludes one of the largest investments with Zimbabwean shareholding in the mobile telecommunications sector. Seretse believes that the existence of a Double Taxation Avoidance Treaty between Botswana and Zimbabwe will facilitate cross border value chain linkages and Joint Venture partnerships. The Treaty was singed on June 16, 2004 and ratified by Botswana on August 3, 2004 entered into force on February 25, 2008.

He further said Botswana has since proposed to amend Article 25 of the Agreement to align it with internationally agreed standards on transparency and exchange of information for tax purposes. Both Botswana and Zimbabwe are expected to have committed to sign the amended agreement by June 30, 2018. “I requests our governments to openly engage with business community and try to amicably address any issues related to Non-Tariff measures to facilitate more trade flows,” Seretse said. Botswana and Zimbabwe have trade facilitation instruments including the Botswana/Zimbabwe Bilateral Trade Agreement, which allows for goods traded between the two countries to be exempted from payment of customs duties, provided they meet the minimum requirement of 25 percent local content.

Continue Reading
Comments

Business

SMEs benefit from Consumer Fair growth

Published

on

The Botswana Investment and Trade Centre (BITC) has applauded Botswana Consumer Fair’s continued efforts to improve small to medium enterprises’ linkages.

BITC Chief Executive Officer, Keletsositse Olebile, when opening the fair, said the event has provided interactive forum for both local and foreign exhibitors. He said the shopping show has enabled manufacturers, wholesalers and traders to market their products directly to consumers, an alignment to government’s endeavors.

“As part of government intention, we continually encourage local sourcing by retailers and distributors,” said Olebile who is just few months into his new post. He further celebrated the growth of Botswana Consumer Fair over the years, attributing the expansion to quality of goods displayed at the previous shows.“Improved quality and increased variety of wares increases the interest of the visitors and makes them look forward to returning the following year,” said Olebile.

This year’s exhibitors at the 13th event still running under the banner: ‘It is more than just shopping’ have been drawn from Lesotho, Zambia, Swaziland, South Africa, Nigeria, Ghana, Kenya, Egypt, Japan, India, Tanzania and Zimbabwe.

Consumer Fair is a flagship event for Fairgrounds Holdings and provides a platform for small medium enterprises (SMEs) from the different sectors of the economy to showcase and promote their products and services. In addition, the SMEs are expected to establish long term business linkages and promote local manufactured goods.Fairgrounds Holdings is already optimistic that the Fair immensely contribute to the socio-economic development of the country through supporting SMEs.

Continue Reading

Business

‘Involve SMMEs in standards development’-Minister

Keikantse Lesemela

Published

on

Minister of Investment, Trade and Industry, Bogolo Kenewendo appealed to Botswana Bureau of Standards (BOBS) to include the Small, Medium and Micro Enterprises (SMMEs) when developing the standards to improve the sector.

She said the Ministry of Investment, Trade and Industry has identified three areas of focus going forward which are modeled on SMME development, investment promotion and export development apexes. “I would like to implore you to include this sector in standards development processes and assist in improving SMMEs conformity to standards and compliance to technical regulations,” said Kenewendo.

Speaking during the BOBS Technical Committee Members appreciation ceremony on Thursday, Kenewendo explained that the important roles of standards are underpinned by the aspirations and intentions espoused in both diversified export led economic growth and job creation as priority areas. “It goes without saying that the diversification of the economy requires a National Quality Infrastructure and Technical Regulatory Framework that promote competitiveness of Botswana goods and services.”

She also emphasized that an effective National Quality Infrastructure and Technical Regulatory Framework are essential as they provide crucial links to global trade, market access and export competitiveness through their contribution to consumer confidence in product safety, quality and the environment.Since inception in 1997 BOBS has published more than 1700 standards through 48 technical committees across several sectors of the economy; 109 certification licences have been issued against some of these standards. Currently 46 Botswana Standards are being implemented through the standards regulations with a view to protecting the health and safety of consumers as well as protection of the environment.

On her note, BOBS Vice Chairperson of the Standards Council, Professor Edward Dintwa said standards are powerful tools for helping organisations that implement them to realize their potential, have access and compete in the global marketplace. “In this highly competitive and complex world, issues of sustainability and productivity, viewed from economic, environmental and societal perspectives require that businesses must be more efficient in their operations, which can be achieved through the implementation of standards”.

Continue Reading

Trending