The Assistant Minister of Investment, Trade and Industry, Honourable Karabo Socraat Gare this morning launched the Medium and Long Term Export Credit Insurance, a Credit Insurance that allows Botswana Enterprises to expand their businesses and upscale their production and services beyond the borders of the country, which is in line with Government efforts to have an export led vibrant economy.
When speaking at the launch, Hon. Gare stated that Botswana Export Credit Insurance (BECI) is a huge achievement that creates opportunities for companies to source financing from local commercial banks guaranteed by Botswana Government through Botswana Export Credit Insurance (BECI). Minister Gare said that BECI would enable enterprises within the country to tender for projects within the country and across borders, benefiting enterprises within the country, which will enable enterprises to unlock economies of scale through the Outward Investment Insurance (OII).
Furthermore, Minister Gare emphasized that the Medium and Long-Term Export Credit Insurance calls for a partnership between Government, BECI, enterprises, investors and financial institutions to be successful and prosperous
“I urge the Business community to utilize this project and create employment for our Youth. This should be possible because our Government has Trade Agreements that should be fully utilized and those include the Southern African Development Community Free Trade Agreement (SADC), Tripartite Free Trade Area (TFTA), Agreement and the African Continental Free Trade Agreement (AfCFTA) .“ said Gare
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