01 Apr 2013

Botswana High Commission in India undertakes investment promotion targeting priority sectors identified by the country that includes energy, diamond beneficiation, ICT, agriculture health and pharmaceuticals.

Answering a question in Parliament on behalf of Minister of Foreign Affairs and International Cooperation Mr Phandu Skelemani, Mr Mokgweetsi Masisi said the High Commission in New Delhi continued to undertake trade and investment promotion as part of its mandate.

He said investment was a long process and some of the companies that have been courted and targeted by the High Commission in India have only been able to make concrete commitments to invest in Botswana over the last years.

Mr Masisi noted that Indian economy was experiencing tremendous growth and expanding globally leaving Botswana with excitement as there was a lot of business and trade that could be done with India.

During 2011/12, he said, the High Commission initiated a visit to Botswana by the National Small Industries Corporation, an organisation which promotes and develop small scale industries and enterprises in India.

The corporation has since signed a memorandum of understanding with Local Enterprise Authority (LEA) to avail their technologies and machineries to develop small, medium industries and entrepreneurs in Botswana, he said.

Mr Masisi highlighted that through the High Commission’s efforts, Jindal Power and Steel Company has invested about US$2 billion to buy a coal mine in Botswana and the deal was sealed last year.

He said the impact of this investment would be nationwide as it aimed at addressing power shortage in Botswana as well as job creation and skills development.

In other sectors like health and pharmaceuticals, Apollo Hospital Group was currently being pursued by the mission and “this investment would address the shortage of health practitioners, drugs and a number of specialties.”

Mr Masisi said in the area of diamond beneficiation, a number of companies have shown interest in procuring rough diamond from Botswana through the newly established Okavango Diamond Company (ODC).

He was responding to a question from MP for Shoshong Mr Phillip Makgalemele who had wanted the Minister to state the overall top three business opportunities identified in India by Botswana’s Diplomatic Mission in India with potential high yield on both inward and outward investment during the 2011/12 Financial year in all the countries of accreditation.

He had also wanted to know whether in terms of opportunities identified there were any with high potential for agriculture, tourism and manufacturing and also to provide the top three business opportunities from both inward and outward investment with high potential for rural investments in each country of accreditation. ENDS