Botswana is a prime investment destination due to various factors, according to Keletsositse Olebile, CEO of the Botswana Investment and Trade Centre (BITC).
While speaking at a roundtable discussion on business opportunities between Botswana and the Los Angeles County Economic Development Corporation, which brought together industry leaders in Los Angeles last week, he stressed that Botswana's foreign exchange rate controls are highly competitive on a global scale.
He stated that international investors are also shielded from exchange rate fluctuations that could result in significant losses.
In addition, he highlighted other advantages that make Botswana an attractive investment destination, such as its strategic position as a central hub for international investors seeking opportunities throughout Africa, Botswana Daily News reports.
Furthermore, he said that through provisions like the export of services, such as the International Financial Services Centre, investors could move their capital out of Botswana without facing tax restrictions.
Consequently, Olebile added that Botswana is an appealing destination for multinational corporations and financial service companies.
“We extend ourselves to you as your capital investment in Africa. Botswana is a stable country and credible for effective investment landing for other countries,” he said.
Moreover, Olebile stated that Botswana’s industrial development model focuses on cluster development, where investors are seamlessly supported through ongoing interaction between the private sector, training institutions, and the government, resulting in the production of relevant skills for the market.
Another advantage for investors based in Botswana, he noted, is the access to global markets through preferential arrangements made possible by the ratification of the African Continental Free Trade Area.
He said that this has introduced favourable trading terms across numerous African countries that are members of the agreement.
In addition, one of the key priorities, he mentioned, is to industrialise through manufacturing to reduce the reliance on imported products by substituting them locally.
Olebile added that Botswana's natural resources, including valuable minerals like copper, those from the Kalahari copper belt, salt, and soda ash, remain largely untapped and present significant investment opportunities.
“We are the largest producer of diamonds by value, hosting one of richest diamond mines in Jwaneng,” he stated.
He also highlighted other opportunities in global value chains within selective manufacturing, emphasising that these should be explored further.