CGTN Europe's Juliet Mann speaks to Botswana's President Duma Boko, and Dr. Jumoke Oduwole, Honourable Minister of Trade and Investment for Nigeria.
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00:00At this year's World Economic Forum in Davos, there are more delegates from emerging markets
00:05than ever before. We caught up with the president of Botswana, Duma Boka, who said that Africa
00:11and all it has to offer should be given more recognition. He says that the future is looking
00:16really bright.
00:17I'm not sure whether the world has been quick enough, but certainly the world is beginning
00:22to pay attention. And I think the reason the world is paying attention is that Africa has
00:27begun to take itself more seriously than it has before. We have now begun and are about
00:34to conclude, get everybody on board in relation to the Africa Free Continental Trade Area,
00:42which will open the barriers, remove all barricades to trade within Africa, amongst African countries,
00:53and increase the volume of trade amongst the African countries. And that is a population
01:01of about 1.4 billion. And so when we look – and that's a very young population whose
01:08dynamism and youthful vitality will drive the economy. And by 2050, we'll have a much
01:16larger population and we'll be the youngest continent in the whole world. So Africa has
01:23huge potential. But Africa can maximize on the benefits of this potentiality by ensuring
01:32that it has stability politically, it has institutions that are durable, that can sustain
01:40the countries outside of individuals, and that the economies grow and the GDP of each
01:48country and collectively of the African continent is increased exponentially, as it should and
01:53can be. And in the process, the world will now have no option but to pay attention to
02:01Africa. Africa is not just the next frontier. It is the now frontier. It is the future.
02:06I spoke to Nigeria's Trade Minister, Jamole Odewole, about – and she said to me that
02:11Nigeria is open for business and they're working hard to prove it.
02:15The first thing we're looking at is actually getting Africans excited about investing in
02:21Africa, or should I say businesses operating in Africa. There's a lot of money made in
02:26Africa, but it tends to go out. So we're trying to retain investment. That's one of the first
02:32things that I'm working on. And then since Mr. President assumed office, over $50 billion
02:37has been announced as investments coming into Nigeria. Since 10 weeks ago when I was appointed,
02:42I'm tracking that. I'm reaching out to those companies. What will it take to make these
02:46investment announcements concrete and have all that capital come in?
02:51What steps have you taken to make Nigeria more business-friendly?
02:55Making sure that there's good reform, that the policies are fit for purpose. You know
02:58the administration immediately worked on monetary reforms and on fiscal reforms. So this is
03:04where the trade and trade for investment for exports in particular kicks in. So it's an
03:09inflection point for the Tinumwa administration.
03:12Do you think that voice, the voice Nigeria has, and other economies of the global south
03:18perhaps, are having a louder voice now in the global economy?
03:23In the last five years, the world has changed quite a bit. And I think that as we listen
03:29more and as we actively review our relationships, we're looking out for body language, we're
03:34looking out for commitment, we're looking out for which partners, which friends are
03:37actually supporting us.
03:39Which sectors in particular might you like to see the relationship growing stronger between
03:44China and Nigeria?
03:45Our railways, our road initiatives, our airports, the Chinese government and businesses, Chinese
03:52businesses have been quite vibrant in this space, as have Nigerians as well. So we're
03:57looking forward to bridging that gap. We're also looking forward to the sectors that are
04:01important to us, our exports to China, making sure that that's more robust, making sure
04:07that there's more activity in the agriculture sector, because that is where we need a lot
04:10of jobs and lots of catalytical. In the digital space, technology, that is where in services
04:17we're competitive. So those are the areas that are important.