24 Mar 2025

The recent visit by Vice President Ndaba Gaolathe to Europe has set the stage for transformational partnerships that are expected to accelerate Botswana’s economic development.

According to a press release from the Office of the President, key achievements during the visit include finalising strategic agreements with European partners, highlighting a major milestone with the signing of a financial sector collaboration agreement with Luxembourg at the upcoming International Monetary Fund (IMF) spring meeting. 

The release details additional advancements aimed at expediting investment in critical sectors, emphasising initiatives in fintech, green financing, and mineral beneficiation to stimulate industrialisation and job creation.

A pivotal aspect of the mission according to the release involved strengthening Botswana’s global positioning by leveraging relationships with the European Union (EU) to align with the European Green Deal and Sustainable Development Goals (SDGs), ensuring greater access to funding, technology, and expertise.

Mr Gaolathe’s journey through Belgium, Luxembourg, and France aimed to bolster bilateral relations, attract strategic investments, and position Botswana as a regional hub for trade, finance, and sustainable development. The Vice President’s primary objectives included enhancing strategic partnerships, advancing Botswana’s status as a financial and trade hub, and promoting economic transformation and sustainability.

In Belgium, the release says Mr  Gaolathe engaged in discussions with the Prime Minister to elevate Botswana’s positioning as a diamond and financial center.

His meetings with the Antwerp World Diamond Centre and Belgian diamond firms focused on exploring joint ventures in beneficiation, cutting, and trading, reinforcing Botswana’s role in the global diamond market.

Moreover, the Vice President consulted with the EU directorate general on international partnerships, seeking support for small and medium enterprises (SMEs), cooperatives, women-led enterprises, and digital transformation initiatives. Conversations with EU high representatives aimed to deepen trade relations and enhance Botswana’s integration into global markets. 

Additionally, the release says Mr Gaolathe signed an agreement at the Spring Meeting and engaged with Luxembourg’s 3S Money Stock Exchange and the Luxembourg House of Financial Technology (LHoFT) to expand fintech collaboration and strengthen Botswana’s regulatory framework for digital banking and anti-money laundering compliance.

Further, the release states that In France, the Vice President met with the chairman of the French-Africa Friendship Group in the Senate to advance investment relations between Botswana and France. Discussions focused on Technical and Vocational Education and Training (TVET) initiatives and the establishment of a Jewelery City, further solidifying Botswana’s global leadership in high-value diamond processing. 

The Vice President also explored investment opportunities in green energy, transportation infrastructure, and regional trade facilitation, underscoring Botswana’s readiness to unlock unprecedented opportunities for economic growth and prosperity. ENDS