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AIM conference to help developing countries attract FDI

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Botswana Investment and Trade Centre (BITC) has joined the world’s leading platform for Foreign Direct Investment (FDI) at the 2018 Annual Investment Meeting (AIM) in the United Arab Emirates that started on Monday and ends this Wednesday. AIM this year hosts more than 40 country pavilions and 18 country presentations and investment destinations including Botswana that will promote investment opportunities in their locations. Others include; UAE, China, Georgia, Italy, India, South Korea, Egypt, The Democratic Republic of Congo, Mali, Jordan, Cameroon, and Nigeria. According to information from the BITC, Acting Chief Operations Officer, Reginald Selelo, Ambassador of Botswana to Kuwait and United Arab Emirates, Manyepedza Lesetedi and Mayor of Lobatse Town Council, Malebogo Kruger are in attendance. AIM’s top focused sectors this year are; Agribusiness and Agriculture, Energy and Mining, Finance and Banking infrastructure and Logistics, IT and Telecommunications, Manufacturing, Real Estate and Property, Tourism and Hospitality and Trade and Industry. The eighth edition of the AIM Conference is expected to assist developing countries to attract FDI.

The platform emphasises on learning and gathering knowledge. The awareness that workshop attendees will get from global experts will support them to improve their knowledge on FDI, world economic policies, sovereign funds of different nations, investments, business development and many other fields. Moreover, attendees will get certificates from higher authorities, which will empower them in future. In addition, investment promotion agencies in attendance will be trained to be proficient to promote investment, run roadshows and make intellectual investments.

The informative approach of this assistance will be combined with a tactical review of operational requirements through practical case studies. The theme for the event is ‘Linking Developed and Emerging Markets through FDI: Partnerships for Inclusive Growth and Sustainable Development.’ There will be opportunities to network with business leaders and entrepreneurs for the international investment community, especially at the Gala Dinner and the AIM Startup Innovation Showcase and Pitch Competition.  AIM will be spread across 8 000 square metres of net exhibition space in which participants from 140 countries will promote their investment projects, opportunities, services and attractions. Meanwhile, FDI inflow into the UAE reached US$10.3 billion in 2017, according to the UAE Competitiveness and Statistics Authority up from US$9.6 billion recorded in 2016. This takes the total FDI stock of the country to US$128.94 billion in 2017. Dawood Al Shezawi, the CEO of AIM, said, “The UAE’s FDI inflow is a living testimony of how liberal approach and an ease in doing business is helping the UAE attract more investment. The UAE’s FDI stock now exceeds US$128.85 billion, which is significant and puts the UAE ahead of most countries in the Middle East. [Additional reporting by: AIMCongress]

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Matambo calls on financial sector to pick GDP

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Finance Minister, kenneth Matambo

Finance Minister Kenneth Matambo has announced that government is committed to support financial service sector to prop up the country’s Gross Domestic Product (GDP).

Currently contributing over 13 percent to GDP, Matambo said the sector has potential to increase its share. “Hence government’s interest in the sector,” said Matambo addressing delegates at the inaugural Botswana Insurance Holdings Limited (BIHL), Global Financial Summit.

The country has built a strong, resilient and fast growing financial sector underpinned by a robust regulatory framework. The finance minister who is expected to step down next year, noted that government’s commitment to the financial service sector has this year been buttressed by a number of laws passed in July relating to money laundering activities.

In addition, Matambo said the continued investment in the development of information, communication and technologies (ICTs) backbone infrastructure is also to support local banks’ rising appetite for online services.

The Minister said the country remains committed to maintaining micro-economic stability to spur private sector participation in the economy. “Our vision is to become a high income country by 2036,” said Matambo, challenging the private sector to step forward and help government to develop the country, bemoaning the low levels of financial inclusion and shallow domestic capital markets.

He said the private sector should come up with more initiatives to develop further the local capital markets. The Minister’s sentiments were also shared by Martin Davies, Managing Director for Emerging Markets and Africa at Deloitte who has challenged the country to start dealing with its low manufacturing value add.

“How do we start to diversify beyond the single commodity economy,” quizzed Davies, adding that manufacturing increase is vital for low inequality across the country.

“Inequality results in bad public policy, as the state starts to believe and think they have to intervene more,” said Davies, highlighting that the country needs to move away from the absolute concept of state drive growth. Meanwhile, minister Matambo has applauded the private sector for leading economic dialogue in the country through events such as the BIHL Global Finance Summit.

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First Lady advises women entrepreneurs

Keikantse Lesemela

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First lady, Neo Masisi

First Lady, Neo Masisi has urged women entrepreneurs to bring change in the economic development of the country and the rest of Africa.

Speaking during the Lioness Lean in Africa breakfast on Friday, Masisi said women entrepreneurs are remarkable engines of economic growth and job creation. “I believe women entrepreneurs hold incredible potential and credentials on the continent because Africa has the highest percentage of women entrepreneurs in the world.

It is projected that millions of much needed jobs will be created over the next decade and these will be created predominantly through small businesses which are mostly run by women,” said Masisi.She highlighted that women entrepreneurs are also the most powerful engine for equitably distributing growth and they are also solutions for addressing inequality on the continent.

“It is a proven fact that for many generations, women understand the simple concept of barter and commerce. These are the role models of our past and our present and they will continue to inspire new generations to do more for business to grow,” she said.

The Lioness Lean In Breakfast Series brings together inspirational and successful women entrepreneurs to share, inspire and connect with the next generation of great women-led start-ups.

The platform is based on a breakfast networking and speaker presentation format, which has been organized in locations across the African continent for the past year by Lionesses of Africa, empowering over one million women entrepreneurs across the continent.

Stanbic Bank Botswana Head of Personal Markets, Omphemetse Dube said they are pleased to bring the Lionesses of Africa Lean In platform to Botswana once again to bring together women entrepreneurs in the country and help to nurture their growth further.

“Botswana is blessed with a number of thriving female entrepreneurs, and the potential for the next generation of talent is strong. Platforms such as this are therefore paramount in growing the cause and we as a bank are proud to help champion that movement further,” said Dube.

Founder and CEO of Lionesses of Africa,Melanie Hawken noted that Gaborone is a growing and exciting centre for women’s entrepreneurship in Africa. “This is a must-attend event for women entrepreneurs in the country as it gives them the opportunity to hear the inspiring entrepreneurial stories of women who are building great businesses here,” she said.

The annual Lionesses of Africa event allows entrepreneurs to benefit from the insights and advice of women entrepreneurs who have seen and experienced it all and to also provide an excellent opportunity for networking.

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