Home BOTSWANA Botswana ready to roll out red carpet for investors

Botswana ready to roll out red carpet for investors

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Investors are more than welcome in Botswana, with the government urging them no to be discouraged by its small population.

The Southern African country has promised to roll out the red carpet for investors, saying that decent returns are part of the package for investors who plan to do business in the country.

President Mokgweetsi Masisi said his country was making conditions conducive for investors. The president was speaking at the official opening of the 14th Global Expo Botswana in the capital city Gaborone this week.

“The World Bank’s Doing Business Report of this year has placed Botswana at number five in the Ease of Doing Business rankings in sub-Saharan Africa. We continue to review and make strategic reforms to improve the ease of doing business and the competitive environment to facilitate the growth of local business as well as to attract foreign direct investment,” Masisi said.

“These reforms include, among others, the continued streamlining and automation of our processes in areas of company registration, construction permits and cross border trade,” he said.

“We have eased entry into Botswana through the introduction of visas on arrival as well as instituting changes on acquisition of permanent residence,” the president added.

The welcoming of investors into the country was echoed by many agencies including government agency The Botswana Investment and Trade Centre (BITC), promising to make life as easy as possible for investors

The agency said that, among the range of services it offers, it would help investors with tax clearance, company registration and even the opening of bank accounts, saying all these were “facilitated from our one-stop services centre”.

Head of the BITC Keletsositse Olebile described the agency as a “premier agency for the government of Botswana” in terms of rolling out the red carpet for investors. “We’re a country of 2.26 million people.”

“Sometimes Botswana is judged in terms of its small population but if you look at every policy that this government has put in place, it’s really to enable you to utilise our long-standing desirable factors such as prudent microeconomic stability, low corruption and the central location in the Southern African Development Community (SADC) to really be able to use the country as a launch pad into the whole of the region,” Olebile said.

According to Olebile, Botswana doesn’t have exchange controls, “you don’t have to apply for externalisation of your funds”.

“We’re also putting together a list of compelling incentives; our tax rate is already 22% but we found strategic sectors that we have further incentivised to 15% – that is in the manufacturing space, international financial services space as well as in the innovation hub space,” he said.

Former Botswana president Festus Mogae said there were hindrances to integration in the SADC region.  Speaking at a discussion session Mogae said African heads of states, including those in the SADC region, were signing agreements with good intentions but these were never implemented or even followed up on.

Former Cabinet minister in Botswana David Magang echoed Mogae’s sentiments saying that the dream for an integrated SADC region with relaxed immigration laws so citizens could easily move from one country to the next was never realised.

 

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