BOTSWANA
Botswana has long been known for its rich natural resources and well-managed economy. The nation is pursuing long-term goals outlined in the Vision 2016 program, diversifying the economy away from its traditional dependence on mining towards broader industrial activities and financial services.
Area: 234,144 square miles Capital: Gaborone Population: 1,561,973 Language: English, Setswana GDP per capita: USD 8,800 Monetary unit: Pula Exports: diamonds, copper, nickel, soda ash, meat, textiles Imports: foodstuffs, machinery, electrical goods, transport equipment, textiles, fuel & petroleum products, wood & paper products, metal & metal products.
Growing economy in the heart of southern Africa
Baledzi Gaolathe, Minister of Finance and Development Planning
Minister of Finance and Development Planning Gaolathe Baledzi comments that natural resources are still the focus point at present. The government has opened a new gold mine and plans two more copper mines. It is also developing tourism activities, and has created the International Financial Services Center (IFSC) in Botswana.
“We would like to see the economy growing even more,” he says. “We want to see further development, especially in the financial private sector. The major function of the government is to promote investment. The government is being very cooperative with investors, by finding property and issuing work and resident permits very quickly.”
Botswana has a small domestic market so it has always been internationally focused, according to Gaolathe. As a member of the Southern African Customs Union (SACU) and the Southern African Development Community (SADC) it offers investors a platform to a huge regional market.
With attractive incentives including low corporate taxes and no foreign exchange controls, Botswana has much to offer investors. “We are working on new call centers in Botswana, glass manufacturing, and a power station that will be open to international investment,” says Gaolathe. “We need to do more to attract United States investors.”
BEDIA
“I strongly encourage partnerships between Botswana and the United States.”
Mmasekgoa Masire-Mwamba, CEO BEDIA
The Botswana Export Development and Investment Authority – known as BEDIA – is the first point of contact for any potential international investor. With vast experience, extensive knowledge and professional services, BEDIA takes a hands-on approach to identify opportunities and help make them a reality.
Formed through an Act of Parliament in 1997, BEDIA is an autonomous body drawing on synergies from both the public and private sectors. It is chaired by and represents the private sector, with full backing from the government. This gives it a unique strength and flexibility. BEDIA identifies investment opportunities and joint venture partners for enterprises in Botswana, provides investment advice, and organizes fact-finding missions for potential investors. It takes investors step-by-step through the investment process, helping to arrange permits, licenses and industrial space.
BEDIA also organizes numerous fairs, exhibitions and trade missions promoting Botswana abroad, and maintains offices in both South Africa and London. Its mission is to create export-oriented businesses that help grow the economy, create jobs and diversify the economy. It also advises the government on developing a conducive investment climate.
Chief Executive Officer Mmasekgoa Masire-Mwamba believes that Botswana is rich not just in minerals, but in human capital. “Our people are highly educated and skilled, and they are open to any business idea,” she explains. “Since they already have the necessary education levels, they are easily trainable for different ventures.”
This makes Botswana an ideal location for joint ventures. Mrs Masire-Mwamba stresses that the environment in Botswana is right to locate business partners to move forward with, realizing meaningful returns on investment.
BEDIA takes an industry and sector approach to the United States market. Among its events this year, BEDIA was represented at the June Corporate Council of Africa in Baltimore, and is negotiating with Disney to showcase Botswana during its September and October food and wine festival.
Mrs Masire-Mwamba believes there are multiple opportunities for mutually successful joint ventures between the two countries. “I strongly encourage partnerships between Botswana and the United States,” she says.
