Industry and Commerce Minister Mangaliso Ndlovu, told Business Weekly this week that Government is negotiating with Botswana for a US$600 million facility.
Ndlovu said the money will be used to boost the local manufacturing sector. Said Ndlovu:
We are still negotiating an economic cooperation with Botswana. It has not reached a stage where we, as the Ministry of Industry, can sign the MoU (Memorandum of Understanding). But we are working on it; there is good progress. We will also discuss it as well (during the BNC meetings). We are not included in the signing (that took place yesterday) but we (were) part of the ministers’ meetings and it’s an exciting mission really because the agreements that are on board include one of financing so, we expect also to unlock some funding for our local industrial retooling programme. It’s in the range of US$600 million.