Botswana urged to promote continental trade

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Stanbic Bank
Stanbic Bank

Stanbic Botswana has lobbied for acceleration of the African Continental Free Trade Area (AfCFTA) to cushion both the local economy and the continent from future pandemics.

“Focusing on attracting capital to the rapid development of AfCFTA goals in Botswana and onto the continent will create a more resilient marketplace in Africa and make us able to better withstand future pandemics,” said Sheperd Aisam, head of corporate & investment banking at Stanbic Bank Botswana on Friday.

“There is no better time for us to focus on the silver linings and come together to address these challenges in a unified way,” said Aisam, as recent forecasts point to an expected 8.5 percent GDP decline in Botswana.

He said the bank is keen to support local business on the initiative, through its access to 20 direct African markets.

“We have learnt and are still learning and happy to share with you our deepest of insights. There is an African story of growth that beckons us and our time is now,” said Asiam.

The bank has been hosting a series of sector-focused webinars for clients in the corporate and investment banking bracket, to provide timely insights on the COVID-19 pandemic and its impact on the economy and business operations.

For Botswana, though COVID-19’s impact is across sectors, the most affected are tourism and hospitality sector, real estate sector and mining.

However, Stanbic believes healthcare, innovation and technology, agri-processing and infrastructure sectors are well positioned for growth. Enditem

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