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Promoting Development Through Investment in Botswana

14 June 2005

"We are looking for development partners with the necessary financial and technical capabilities to work with us under our progressive and investor friendly laws, policies and fiscal regimes."

The Government of Botswana is keen to work with foreign investors to promote development and ensure sustainable exploitation of the country's natural resources.

Charles Tibone, Botswana's Minister of Minerals, Energy and Water Resources, said: "We are looking for development partners with the necessary financial and technical capabilities to work with us under our progressive and investor friendly laws, policies and fiscal regimes."

Mr Tibone was addressing an investment forum held at the Commonwealth Secretariat in London, UK, on 14 June 2005. He stated that Botswana has a lot to offer to minerals investors. "We have excellent geological prospects, world-class mining laws, and a good and stable social, economic and political environment. We have free access to crucial geological information as well as a fiscal environment that allows for repatriation of investors' profits."

While Botswana is known predominantly as a diamond mining country, producing 31 million carats in 2004, Mr Tibone said it is also rich in other minerals such as gold, copper, nickel, as well as coal, with an estimated 200 million tonnes' worth of deposits in the country. He stated that Botswana, which imports two-thirds of its power needs from South Africa, is expected to face a power shortage in 2007. This opens up opportunities for investments in coal mining and power generation.

Peter Siele, Botswana's Assistant Minister of Agriculture, said the country's agricultural sector, which is largely untapped, offers investment opportunities in animal husbandry, game farming and agro-processing of animal products, fruits, vegetables and grains such as sorghum, maize and millet. Botswana is currently exporting beef and ostrich products to neighbouring countries and to the European Union.

The lack of competition in the food production business in Botswana, coupled with a stable workforce and growing economy, are factors that have made the country a good place to do business, according to Peter van Wyk, Chief Executive Officer of Bokomo Botswana. Mr van Wyk, who shared his views at the investment forum, said his company has a successful range of businesses in Botswana, which includes the processing of agricultural foodstuff such as maize and wheat, and the distribution of dried food products.

Botswana handicrafts made from hyphaene palm.

Dr Philip Bacon, Director of UK-based NatureBureau, stated there are profits to be made in the exploration of minor crops such as the hyphaene palm that is commonly found in Botswana. He said this palm is used to make baskets, which is good for the handicrafts industry that supports tourism and the export sector. Dr Bacon, a forestry expert, added that there are other plant species in Botswana which can be used in the production of cosmetics, soap and flavouring. For Dr Bacon, the forests of Botswana hold a wealth of opportunities.