U.S-Africa Business Summit: Botswana’s Mokgweetsi Masisi unpacks the key economic outcomes

The 15th U.S-Africa Business Summit concluded with a resounding call to action for increased collaboration and sustainable economic growth on the African continent. Hosted in Botswana, the summit showcased the country's commitment to leveraging global partnerships to boost intra-Africa trade and value addition. In an exclusive interview with CNBC Africa, Botswana President Mokgweetsi Masisi highlighted key economic outcomes and future prospects arising from the event. President Masisi emphasized the significance of the African Continental Free Trade Agreement (AfCFTA) as a catalytic force for transforming the continent's economic landscape. He underscored Africa's evolving role in global commerce, moving away from mere resource extraction to prioritizing value addition and intra-Africa trade. Botswana, as a proactive participant in this paradigm shift, invites investors to explore the wealth of opportunities within its borders and across Africa. Key Points: 1. Push for Deals and Commitments: President Masisi articulated his expectations from the summit, stressing the need for tangible outcomes such as business deals, strategic partnerships, and financial commitments. He highlighted the record attendance of over 1,300 delegates and the active engagement of heads of state with private sector entities, signaling a fruitful platform for collaboration. 2. Emphasis on De-Risking Investments: Addressing concerns around perceived risks in African markets, President Masisi acknowledged the importance of de-risking investments to attract foreign capital. He noted the growing alignment between governments and investors in mitigating risk factors and fostering stable business environments across the continent. 3. Advocacy for Fair Resource Utilization: Reflecting on Botswana's negotiations with De Beers, President Masisi outlined a strategic shift towards equitable resource management and wealth creation through intellectual capital. He emphasized the need for balanced partnerships that prioritize local value addition and fair market practices, setting a precedent for sustainable economic collaboration. In a poignant moment, President Masisi likened the renegotiation with De Beers to ending an abusive relationship, asserting Botswana's sovereignty and commitment to maximizing the benefits of its natural resources. He emphasized the importance of fair trade practices and mutual respect in fostering long-term economic partnerships. Meta Tags: U.S-Africa Business Summit, Botswana Economy, Intra-Africa Trade, AfCFTA, Economic Collaboration, Investment Potential Quote: 'We're in the business of value adding, we're in the business of intra-Africa trade and Botswana is a keen player at that.' - President Mokgweetsi Masisi As the summit concluded, President Masisi's unwavering advocacy for inclusive growth and sustainable development resonated with attendees, signaling a new era of economic cooperation and shared prosperity in Africa. The momentum generated at the U.S-Africa Business Summit is poised to drive transformative change and unlock the continent's immense potential for years to come.