Opportunities lost as Botswana misses AGOA train
Friday, April 22, 2016
AGOA is a unilateral trade arrangement by the U.S for African countries. The benefits provided by the scheme have allowed for an average of around 70 percent of all imports from sub-Saharan Africa to enter the U.S duty-free.
Although Botswana has most of the factors that are required to be eligible for AGOA, local businesses are still lagging behind when it comes to international trade, particularly in exporting to the United States of America.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...