Business Botswana (BB) in conjunction with the American Business Council (ABC) signed a Memorandum of Understanding (MoU) aimed at luring lucrative American investors to Botswana.
The MOU stands to strengthen collective efforts of both ABC and BB and promote an environment for private sector-led growth in Botswana’s economy.
Business Botswana president Gobusamang Keebine said they hope to learn business acumen from Americans.
He said they will benchmark on American business acumen in terms of what needs to be done to succeed and grow one’s network globally just like most of American businesses.
Moreover, the partnership will be beneficial in helping to harness and strengthen the local businesses and link members in key important areas.
He said the partnership will link BB members to American businesses for trade facilitation.
“Business Botswana aims to help local businesses grow and compete globally by advocating for a conducive business environment. However, for Botswana to fully grow, we must equip local businesses with necessary skills to compete with the best internationally,” Keebine emphasised.
Keebine said BB and ABC will be working together to help Botswana enterprises take up opportunities coming out African Growth Opportunity Act (AGOA) trade agreement.
“The MOU will also ensure that there is constant communication between Business Botswana and American Business Council. This means that through our resilient or regular engagements, execution will actually take place as it will be crucial for us to deliver our promises,” he said.
He said through their newly adopted strategic plan, BB aims to, amongst others, strike partnerships with her counterparts both at national, regional and international level; hence the MOU signing with ABC attests to the strategic direction.
Aditya Ram, Chairman of American Business Council in Botswana, said the MOU is a step in the right direction and urged local businesses to link with ABC so as to help them grow.
Ram is of the view that the local businesses boost the potential to produce quality products that are qualify to be exported to the American market, adding that ABC is open to facilitate trade. He said it is also important to re-look at AGOA to review the specific products that are in demand for doing business between Botswana and the American investors.