18 Dec 2023

Facilitation of both domestic and foreign direct investment is done to increase levels of investment inflows into Botswana to diversify the economy and create employment, says Minister of Trade and Industry, Mr Mmusi Kgafela.

 Mr Kgafela said this was done through parastatal organisations such as Botswana Investment and Trade Centre (BITC), Special Economic Zone (SEZ) and Botswana Development Corporation (BDC).

He was answering a question in Parliament from Francistown South Member of Parliament, Mr Wynter Mmolotsi, who wanted to know the number of new businesses lured to Francistown in the last three years, their location in Francistown and how already existing businesses in Francistown were assisted to expand and employ more people.

In that regard, the minister said during the past three years, BITC had facilitated the establishment of five companies with a total investment of P32.9 million expected to create 129 jobs in Francistown and its surrounding villages.

Mr Kgafela said the companies included Smart Paper Botswana, Cherin Blanc and Francistown Academic Hospital.

In addition, the minister said they facilitated old businesses that had been operating in Francistown with finance to expand their operations and create more employment. 

He said assistance was extended to Cresta Marang, Anbo Farms, F&G Botswana, Zila Investments and Litious Ginger.

He said the aftercare also included investor match-making, value chain linkages, facilitation for merger and acquisition, facilitation for work and residence permits for technical staff as well as construction workers, where companies were expanding their workshops as well as facilitation to access to the export market.

Mr Kgafela said the facilitation was also extended to interventions relating to land and BURS.

Through BDC, Mr Kgafela said his ministry had launched a Social Corporate Investment, the BDC Business Den, which was designed for budding, ambitious and driven youth entrepreneurs to allow them secure funding of P500 000 on a grant basis accompanied by mentorship opportunities.

He said the first beneficiary of the BDC Business Den was Alosa Group of Companies based in Francistown, a 100 per cent citizen youth-owned company manufacturing animal feeds, which commenced operation in February 2022.

Minister Kgafela said BITC opened an office in Francistown in March 2019 to serve the Northern part of Botswana as well as facilitate equitable distribution of investments across the country. ENDS