28 Jul 2021

Botswana Investment and Trade Centre (BITC) has reportedly facilitated Foreign Direct Investment(FDI) to the tune of P1.5 billion, during the year 2020/2021 while Domestic Investment (DI) stood at a cumulative P1.6 billion. 

Updating the media on BITC 2020/2021 performance highlights on Tuesday, Chief Executive Officer, Mr Keletsositse Olebile said during the year under review, the organisation recorded a slight performance decline, despite an impressive performance of slightly over their 80 per cent target in the past two years.’

 He said the year under review was characterised by slow growth across most world economies, which affected investor confidence, adding that the performance reflected some level of resilience to the COVID-19 situation, as the notable achievements realised over the year were a result of investment decisions made before the pandemic. 

He said the total value of export earnings stood as P2.7 billion, while two new products were exported and two citizen owned enterprises entered the export market. 

Mr Olebile highlighted that some of the 2020/2021 high level achievements that BITC facilitated to establish included the Selebi Phikwe citrus project, which has a job creation expectation of 1 000 vacancies as well as the expansion of Kromberg and Shubert through allocation of land for construction of 7 000sqm factory to manufacture wire harness for Mercedes Benz, with over 800 jobs expected in 2021. 

He noted that BITC also facilitated the establishment of Exilligent (Pty) Ltd feed mill in Boatle and Irvine Botswana (Pty) Ltd, a poultry feed manufacturer in Mmamashia, adding that the companies had job expectations of 100 each. 

In order to further facilitate the expansions of existing investment companies in Botswana, Mr Olebile highlighted that a total investment of P732.6 million was realised for business expansions with a corresponding 933 new jobs recorded in the economy in the reporting period. 

This, he said was an increase of 41 per cent from the previous financial year, where P517.42 million was recorded. 

Mr Olebile reiterated that BITC remained committed to creating permanent and sustainable employment for Batswana, adding that it assisted companies create 4 288 jobs against a target of 3 380 jobs, with the majority created from agriculture and agro-processing and the manufacturing sectors. 

Notwithstanding the tough international environment, which saw market conditions deteriorate due to the knock-on effects of COVID-19, Mr Olebile said the agricultural space offers a niche with untapped opportunities.

 He said BITC had thus intensified engagement with local and international investors to promote investment in the sector, consistent with government policy aimed at paradigm shift from mineral-led economy to a diversified market in which the agricultural sector played a key role. 

He further said BITC continued to deliver improved investor facilitation services to both local and foreign investors, through the Botswana 

One Stop Service Centre (BOSSC), which housed relevant government departments under one roof to provide prompt, efficient and transparent services to investors. 

He said its services had grown from slightly above 130 applications for government authorisations in 2013, to 752 in the year under review.

Mr Olebile stated that BITC will adopt a new strategic focus, which will shift to domestic investment promotion and creation of active value chains. 

The development of the domestic investment strategy, he said will encompass a robust business retention and expansion plan and digitalize key business processes, adding that BITC also aims to revamp business models through assisting community co-operatives with profitable business models and optimal, profitable operating models. 

He said the implementation of the Africa Free Continental Free Trade Area (AfCFTA) was also expected to significantly shape foreign investment into African special economic zones (SEZs). ends