‘Boundaries Thwart Free Trade Within Africa’

| November 19, 2014 | 0 Comments

Organisation for Eastern and Southern Africa Insurers (OESAI) is one of the manifestations of the desire by Africans to surmount the artificial and economic fragmentation of the continent, says OESAI chairman, Mr Lawrence Nazare.

Speaking at the 37th OESAI annual conference, Mr Nazare said a stable united Africa with a more fluid and harmonised intra-Africa trade framework which would lead to more prosperity must be embraced by all.

He said despite persistent efforts, many hurdles across the road to regional co-operation in trade and business collaboration still remains.

Mr Nazare noted that regardless of the acceptance that trade must be Africa’s liberator efforts to allow it to freely transcend geographic boundaries have so far yielded disappointing results.

“I am particularly excited about the ambitious drive towards integration through the merging of SADC, AEC and COMESA structures to create a greater free trade area extending from South Africa to Libya with a GDP exceeding US$800,” he said. He said that in this regard, insurance must be a leading participant and contributor to such change.

BOCCIM president, Mr Lekwalo Mosienyane said that Botswana is a development success story considering that it has become one of the fastest growing economies in the world and ranked as an upper-middle income country since independence.

Mr Mosienyane said that according to the 20072008 World Bank’s Doing Report, Botswana is positioned as one of the world’s top ten performers for taking measures to protect investors and reduce constraints to starting a business.

“Botswana has made remarkable socio economic development, is also investor ideal due to its political stability and with its current diversification strategy in place, investors have been easily enticed and attracted to Botswana,” he said.

There are immense possibilities within the financial realm, he said adding that insurance whether short term or life, has played a fundamental role in Botswana’s development.

He noted that for Botswana business is not inward but outward bound where many companies have setup in Botswana, maintained head offices here and continued to expand their business horizons across the SADC region, hence the tourism, health and education services sector are also brewing with opportunities.

Source : BOPA

Source : Botswana Daily News

Category: General

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