Tuesday, March 5, 2024

Mohohlo encourages intra Africa investment

The Governor of Bank of Botswana, Linah Mohohlo, has emphasized the need for an inclusive approach, in particular including women in all aspects that lead to economic growth in the African continent.

Mohohlo was speaking at the World Economic Forum for Africa 2013, looking at the trends that well inform Africa economic growth of the continent in the next twelve months.

“Include women in all aspects that lead to tremendous economic growth; it will triple to double digit growth even in areas where we have experienced in single digit growth,” said Mohohlo.

Mohohlo said she is filled with tremendous hope with respect to economic growth not only for Botswana but the entire continent considering the investor confidence that has been experienced across the African continent.

She hailed the continent for being able to generate inclusive growth even during the financial crisis.

“The discovery of natural resource in Mozambique and in the North gives us confidence that the continent will experience economic growth,” said Mohohlo.

She added that the region has experienced investor confidence against a background of a whole lot of things.

“There are a whole lot of issues that we are grappling with but we are sure of quality growth and inclusive growth,” said Mohohlo.

The region is faced with a huge inflow of foreign direct investment, which has significant increase to the tune of 60 percent. Diversification of African economies has been encouraged to allow for diversification in the FDI inflow.

However, she noted that the greatest challenges the continent is faced with is committing to productivity and competitiveness.

“One of the problems we are grappling with in Botswana is committing to work ethics productivity and competiveness; we have to leap frog because others have forged ahead,” she said.

She encouraged Intra Africa Investment (IAI), saying this would lead to infrastructure development in the continent.

Mohohlo was adamant about her confidence of the continent growth in the next twelve months.
“I have tremendous hope, I have no doubt in my mind the continent will experience tremendous growth in the next twelve years.”

The African continent has witnessed a decrease in civil conflict, political stability and abundant discovery of natural resources.

“A combination of these factors gives us the confidence that we should forge forward,” said Mohohlo.


Read this week's paper