Government’s recent decision to accede to Africa Peer Review Mechanism has been applauded, as a potential catapult for the economy to surge. Local entrepreneur Sethebe Manake, Director at Vantage Properties said the development is an indication that the country is committed to good governance and best practice.
“Looking at the peers that have already signed up, Botswana stands accountable to others and them to Botswana, opening a great channel for the leading countries in the continent in many respects to share ideas and ideals for progress and development,” said Manake. She said the development can also improve business confidence, with the expectation that government will uphold good governance and apply best practice to its dealings with industry.
“As the review mechanism kicks in Botswana is able to have its progress measured from its base year and over the periods that reviews are conducted,” said Manake, adding that the country will also be able to quantify progress and the speed at which we are moving especially with the peers that have similar environments. “I’m particularly excited by the presence of Rwanda, and would take it as a challenge to arrive at that level of intra-government accountability. If we do get it right the business environment will likely improve significantly.”
Last week, President Dr. Mokgweetsi Masisi signed a Memorandum of Understanding with the African Peer Review Mechanism paving way for Botswana to join the Africa Peer Review Mechanism (APRM), as the 39th country on the continent to sign up the instrument.
The signing took place at the African Union High Level Dialogue, during the 28th Summit of the APR Forum of Heads of State & Government.
Introduced in 2003, the APRM is a mutually agreed instrument to which member nations of the African Union voluntarily sign up for as a self-monitoring mechanism to encourage conformity with political, economic and corporate governance values, codes and standards, among member countries. Some of the AU’s 36 members that signed up to the MOU establishing the APRM are Ghana, Kenya, Mozambique, Senegal, Ethiopia, Algeria, Rwanda, Uganda, Burkina Faso, Egypt, Malawi, Mauritius, Sierra Leone and Tanzania among others.
The upbeat Manake said the development has potential to lure investors to the country’s shores. “I cannot speak with authority on the country’s efforts to attract FDI, however it is a notable step that indicates to investors that we are working on being the best,” said Manake. Manake added that Botswana has signed and made a lot of commitments recently towards Africa to Africa co-operations and trade.“We are a real participant in global conversations as one would have seen with the World Economic Forum this year in Davos. This is a clear indication that we are serious about FDI, development, our intention to being a high income country and these are definitely steps in the right direction,” said Manake.