22 Sep 2019

Botswana embassy in Germany has thrown its weight behind continuing efforts to attract foreign direct investment expected to contribute immensely to both economic growth and diversification of Botswana’s economy. 

The embassy will, starting September 23 host a five-day high level engagement forum with industry leaders in various sectors within the Botswana economy and also to foster trade and investment cooperation between Botswana and German businesses.

Dubbed the Botswana Investment Promotion Drive 2019 (BID 2019), the forum will provide a platform for drivers of the German economy in the innovation, Information Communication Technology (ICT), energy, agricultural and automotive sectors to engage with their Botswana counterparts. 

The ambassador, Ms Mmasekgoa Masire-Mwamba, said in a statement that BID 2019 was designed to facilitate joint venture possibilities, identify match-making opportunities with German companies, raise awareness of the investment opportunities available in Botswana and also to promote the country as a gateway to the SADC region. 

In addition, she said it would serve as a follow-up to the inward bound investment mission from Germany that Botswana hosted in November 2018 during the state visit of the German president Mr Frank-Walter Steinmeier.

Ms Masire-Mwamba said the forum would specifically target businesses intending to expand into Africa. 

In the 2018 State-Of-The-Nation-Address, President Dr Mokgweetsi Masisi had said government recognised investment promotion as key to economic growth and job creation as it led to expansion of existing businesses and establishment of new ones. 

He had noted that government had since embarked on a transformation agenda to lure investors to the country through a revamped investment promotion drive with missions instructed to guarantee Botswana’s visibility as well as to position the country as an investment destination of choice. 

Dr Masisi had pointed out that in the 2017/18 financial year, Botswana had, through Botswana Investment and Trade Centre (BITC), generated about P1.1 billion worth of FDI, out of which 2 008 jobs were created. 

He had also assured the nation of government’s commitment to continuously improve the doing business environment and the economy’s competitiveness. 

Business Botswana, one of several entities that would participate in the upcoming forum, said it was a timely opportunity to assist the organisation and those with similar mandates such as the Botswana Development Corporation (BDC) and BITC to intensify efforts to attract foreign investors to Botswana.

In a recent interview, Business Botswana president Mr Gobusamang Keebine reflected on the strides Botswana was making with the ease of doing business. 

Mr Keebine said while previously implementation of the ease of doing business was slow, and was in some instances negated by laws and policies, of late, there was evidence of government’s commitment towards removing bureaucratic hurdles that hindered efforts to make doing business seamless. 

“Lately, Business Botswana has witnessed an opening up and an upsurge in enactment of laws and policies that are pro-The Ease of Doing Business. This has also been noted by those who, over the past six months, have indicated a clear wish to come and set up businesses in this country,” he said. 

He said BID 2019 would add fresh impetus to Business Botswana’s efforts to help its members to penetrate foreign markets. 

Whenever possible, he said, the organisation undertook outward-bound trade visits to engage with private sector representatives in other countries and often entered into Memoranda of Understanding (MOUs) with like-minded businesses. 

“While out there, Business Botswana enters into MOUs with the chambers of commerce of these countries to set up bilateral agreements to enable our mutual members to transact business with ease. 

Business Botswana also assists its members to establish relations with identical entities in countries where its members have an interest,” he noted. 

He explained that some members had shown interest in doing business in Estonia in the ICT sector as well as in Kenya in the areas of cooperatives and tourism. Ends