Kinyuru Munuhe @kinyurumunuhe
Kenya and Botswana traders have moved to establish a joint business council that will promote trade and investment between the two parties.
Kenya National Chamber of Commerce and Industry (KNCCI) President Richard Ngatia said yesterday the council will enable the business community in the two countries to exploit opportunities.
“While Kenyan traders eye the Botswana market, we encourage our counterparts from that country to exploit Kenya’s improved regulatory policies and tax incentives for export-based industries located in Special Economic Zones,” he said.
Ngatia said Kenyan investors are keen to participate in industrial infrastructure development in the mining region of Selibe Phikwe in Botswana.
They also want to leverage the easy tax regime that has enabled investors to start base in the country to tap the region’s regional emerging opportunities in ICT, mining, tourism and hospitality, he added.
Ngatia also called for joint participation in trade-oriented activities and exploit e-commerce opportunities and set-up a livestock exchange that will enable the two countries to market their animals.
Jua Kali sector
“We have a vibrant Jua Kali sector which constitutes part of the small and medium enterprises of more than 14.9 million traders, contributing 34 per cent to the gross domestic product (GDP) and constitute over 80 per cent of businesses in Kenya. We should encourage traders to develop tourism products including investing in golf courses and hotels,” Ngatia said.
Last week, Presidents Uhuru Kenyatta and his Botswana counterpart, Mokgweetsi Masisi, signed three key agreements in Nairobi, opening a new chapter of co-operation in bilateral trade, air transport and ICT.
