Botswana gained over P25m in hosting US-Africa Business Summit

Botswana gained over P25 million from hosting the economy-catalysing event named US-Africa Business summit.

On the flip side, the country had budgeted only P8.2 million for the hosting, an amount that fell far short thereby necessitating Botswana International Trade Centre (BITC) to look for alternative source of funds. As it is common knowledge, when the country hosts such high-profile meetings the budget must be approved by cabinet. In this case, the budgeted P8, 2 million was an underestimation compared to the P30 million that was budgeted for the Forbes Under 30 Summit.

But when rolling out the programme it evidently showed that the amount fell far short and this forced the hosting authority BITC to tap into existing budgets as well as depend on a few sponsors a matter which means, they too will have to be balanced at some stage to avoid shortage.

This revelation came during a presentation by the Minister of Foreign Affairs, Dr. Lemogang Kwape who told parliament that President Dr. Mokgweetsi Masisi’s external engagements are central to advancing Botswana’s national interests on behalf of all ordinary Batswana.

He said through the President’s participation at UN meetings, Botswana is making meaningful contributions to the development of global solutions to challenges such as climate change.

“Still on the global platform, we have witnessed the President promote Botswana’s image abroad as a respected and influential player”. Kwape said to date; Botswana has served as a host to a number of international meetings including the recently-held US-Africa Business Summit, the Forbes under 30 Summit, and the 2022 International Summit on Constitutionalism and Democratic Consolidation.

Further, that US-Africa Business Summit was the first high-level gathering of this magnitude in Botswana with over 1000 participants, most of them high-profile individuals. “According to BITC, the total gains emanating from hosting the US-Africa Business Summit total P25,400,000.00,” Dr. Kwape said.

He said that government had budgeted P8 million, towards hosting this crucial economy catalysing event. However, “the amount expended exceeded this figure and the Ministry of Trade and Industry (MT&I) is still in the process of reconciling the total amount in the regard”.

Kwape said this is the Reset Agenda in Action! “We have embraced this notion and are going to continue being the destination for Meetings, Incentives, Conferences and Exhibitions (MICE).

“This is informed by our enlightened realisation that the benefits of such meetings are felt by an ordinary Motswana. Our successful bid to host the Kimberly Secretariat will among others, lead to job creation for Batswana in the diamond

value chain industry”.

On Botswana’s foreign policy, Kwape told legislators that they may wish to note that foreign policy is the promotion of a state’s national interests at the international level. In other words, it is a projection of domestic policy on the international stage.

Further that Domestic policy is developed and implemented to deliver on national interests locally, whereas foreign policy is developed to articulate national interests abroad, hence it being referred to on many occasions as an extension of domestic policy or mirror of domestic policy on the international arena.

“Today our foreign policy or articulation of our national interests on the international system is heavily anchored on multilateralism that is a rule-based multipolar international order’.

He said Multilateralism comes naturally to most countries in the developing world as it gives them a voice and influence that they could not otherwise exercise if they acted individually or unilaterally in today’s world.

In addition to her bilateral diplomacy engagements, Botswana conducts her multilateralism through regional and international organisations and institutions, such as, SADC, AU, Commonwealth, NAM, the UN, etc.

“Engaging through these mechanisms allows us small nations, (small in size, resources, both economic and military) to be heard and have our plight addressed or resolved.

“Botswana continues to act in concert with other nations around the world to explore global solutions to global challenges such as poverty, climate change, health pandemics, international terrorism, etc., which know no borders”.

Dr. Kwape said that Botswana has employed multilateralism as a foreign policy tool to help guarantee her national security; to mobilise much-needed development support from external sources and partners; secure markets for her goods and services; have her voice heard around the world; and to help shape a better world.

In light of the foregoing, Dr. Kwape said it should be appreciated that the President’s external engagements are crucial as they are aimed at progressing the country’s foreign policy for the benefit of the nation.

“Naturally, participation at international fora accords H.E the President the opportunity to engage with his peers on a wide range of issues, as well as giving the country a chance to be at the table to help with shaping the global agenda.

“It also affords us the opportunity to meet with other leaders in the margins thereof, with a view to advance and maintain our good and friendly relations, aimed at engaging in trade relations that will improve our socio-economic development and the livelihoods of our people”, he said.

Speaking to Key achievements , Kwape said, I wish to note that during Masisi’s High Level State and official visits to partner countries, a number of bilateral agreements aimed at strengthening and deepening bilateral cooperation have been signed. Most recently this year, His Excellency the President received the President of the Republic of Angola, from 20th to 21st July 2023, on a reciprocal visit consequent to his Visit to Angola in 2018.

He said that the visit culminated with the Agreement to utilise Diamond Trading Company Botswana (DTCB), for trade of their diamonds, including through establishment of a cooperation mechanism with the aim of strengthening production capacity, exploration, cutting, sales and marketing, as well as to unlock the value chain in the international market.

The other main agreement was on Agriculture and Livestock, to basically assist Angola within the livestock sector on repopulation of their cattle, through export of semen, embryo, as well as live cattle.

Principally, Botswana will also assist with the setting up of an artificial insemination facility. These issues all speak to the objective of the reset agenda, through value addition in the agriculture and livestock industry. Further, in May this year, Masisi travelled to Nigeria to attend the Inauguration Ceremony of the 16th President of the Federal Republic of Nigeria, President-Elect Mr. Asiwaju Bola Ahmed Tinubu.

In the margins thereof, the President held High-Level Bilateral Meetings aimed at strengthening strategic partnerships between Botswana and Nigeria, such as in the trade and investment sectors.

One of the engagements included an investment meeting with members of the Private Sector, held under the theme, “Invest in Botswana,” whereat they demanded supply of Botswana’s tasty beef. The President also met Batswana living in Nigeria.