07 Sep 2023

Botswana’s attractive incentives of a liberal, open low tax environment and absence of exchange controls provide investment opportunities that Australian companies can take advantage of.

President Dr Mokgweetsi Masisi said during the Botswana - Australia Business Forum in Perth on Thursday. 

He further noted that Botswana was ideal because of her centrality in Southern Africa, good labour relations, political and macroeconomic stability, high literacy rate, stable workforce, adherence to the rule of law and sanctity of contracts.

He, therefore, encouraged companies to take advantage of opportunities brought about by the African Continental Free Trade Agreement (AfCFTA) and the potential market it had created by considering using Botswana as a hub to service the 1.3 billion African population.

“These are just some of the attractive incentives that we offer in our quest to attract Foreign Direct Investment. And we are ready to do business with Australian companies anytime,” he said.

He also called on Australian tourists and adventure seekers to visit Botswana to experience the country’s tourism, which includes the highest concentration of African elephants in the world, other wildlife species, Okavango Delta - the largest inland delta in the world and a designated World Heritage Site as well as Kgalagadi desert.

Minister of Trade and Industry, Mr Mmusi Kgafela said the ministry was committed to implementing the Doing Business reforms to further enhance investment offering and standing on the African continent.

He said the Botswana-Australia Business Forum would further enhance trade and investment linkages between the two countries as facilitated by BITC and the Australia Africa Chamber of Commerce.

Botswana High Commissioner to Australia, Ms Dorcas Makgato said the forum sought to, among others, provide information on Botswana’s investment and trade opportunities in the mining, tourism, agriculture and financial services sectors.

She said it also promoted FDI to Botswana and projected Botswana as an investment destination. It also facilitates business to business exchanges for collaboration, partnerships and investment, she said

For his part, Minister of Minerals and Energy, Mr Lefoko Moagi said Botswana hosted 13 Australian companies, doing exploration and one company which started mining this year.

Mr Moagi said Botswana used an online system, the Mining Cadastre, to process applications for mining concessions.

“Payment and submission of quarterly reports is also done through the system, and this has greatly improved the turn-around time,” he said.

Furthermore, to wean Botswana from over-reliance on one mineral, particularly diamonds, he said investors could be redirected to consider investing in prospecting of non-diamond minerals through availing good quality, readily accessible, geoscience information on other minerals such as base metals, Rare Earth Elements, energy minerals, industrial minerals and others.

BITC CEO, Mr Keletsositse Olebile said the forum brought seven Botswana companies from different sectors and that it was overly subscribed with registered 63 companies that attended.

He said there was a lot of interest in the sectors of mining, value chain of financial services, agriculture and that the forum further included business to business engagements where leads and contacts were created.

“We do believe that something will definitely come out, owing to the level of interest and attendance,” he said. ENDS