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Home » News » General » Botswana committed to ease of doing business – Masisi

Botswana committed to ease of doing business – Masisi

Publishing Date : 13 November, 2017

Author : REARABILWE RAMAPHANE

Vice President Mokgweetsi Masisi has assured potential international investors and entrepreneurs that his government is committed to making the environment for business in Botswana conducive for business and significant investment.


When officially opening the 12th edition of BITC Global Expo Botswana in Gaborone on Tuesday Masisi said the expo which attracted  over 220 Exhibitors and Delegates from Europe, Asia and the rest of Africa presented an opportunity for all exhibitors, visitors and delegates to meet and discuss business prospects.


He highlighted that Botswana’s key priority as a nation is to achieve an export-led economy that will create sustainable jobs. “As espoused in our national Vision - Vision 2036 and the eleventh National Development Plan (NDP 11), this can only be achieved through development of sectors and industries that will drive sustainable growth and diversification,” he said.


Masisi observed that the vision calls for coordinated efforts and contributions from sectors of the economy, including agriculture, manufacturing, services, resource beneficiation, energy, tourism and the creative industries. “To this end, continuous review of potential growth sectors and improvement of the investment climate has remained a high priority for Botswana,” he noted.


He further observed that Botswana enjoys a distinct and central geographical positioning within Southern Africa, which placed the country as a gateway to regional and global markets and value chains. “Therefore, Botswana as an investment hub for Southern Africa provides the greatest opportunity for companies that wish to re-establish their presence in Africa.”


The Vice president added that regarding sustainable market opportunities, Botswana had entered into bilateral and multilateral trade agreements aimed at opening markets for Botswana manufactured products regionally and globally. Botswana is a member of the Southern African Customs Union (SACU) which gives access to sixty two (62) million consumers in South Africa, Namibia, Lesotho and Swaziland.


“We continue to enjoy unfettered market access in the fifteen (15) Southern African Development Community (SADC) Member States, who are signatories to the SADC Trade Protocol.” SADC provides access to a market of around two hundred and eighty (280) million people. Additionally, Botswana along with other African countries enjoys access to the US market for over 6500 product lines. Furthermore, Botswana has duty free and quota free access into the EU. “I therefore wish to encourage all of you to invest in Botswana in order to take advantage of this market access,” added Masisi.


Beside the market opportunities that Botswana poses, according to Masisi, the country has positive policy and regulatory environment for doing business in place. The Ease of Doing Business Report of 2017 ranks Botswana at number 71 out of 190 Countries, above countries such as South Africa and China, amongst others.


Doing Business provides quantitative measures of business regulation in eleven (11) regulatory areas that are critical to the functioning of the private sector. Africa Investment Index 2016 ranked Botswana as the most attractive destination for investments flowing into the African continent. The 2017-2018 Global Competitiveness Report ranks Botswana at number 63 out of 137 countries. Botswana’s competitiveness has slightly improved in the last 3 years from 71 in 2015-2016, to 64 in 2016-2017 and further improved to 63 in 2017-2018 as I already indicated.


The VP further added that Botswana found it in her best interest to carry out initiatives that would continuously improve the business environment through implementation of the Doing Business Reforms Roadmap. “In this regard, we are fast-tracking some of the reforms, including, inter alia, to further streamline business laws and regulations, improve service delivery, reduce paper work, as well as leverage on ICT applications. This will lead to reduction in the cost and time of doing business, thereby improving overall competitiveness.”


Some of the completed reforms include the amendment of the Companies Act which allows applicants to register companies without the facilitation of Company Secretaries; electronic filing and payment for taxes; as well as the online customs management system, which has paved way for the development of the single electronic window to facilitate cross border trade.


Government recently established the Botswana One Stop Service Centre (BOSSC) based at the BITC Head Office in Gaborone at the Central Business District. BOSSC serves as an investment facilitation mechanism where relevant Government agencies have been brought to a single cohesive structure that coordinates and streamlines processes to provide prompt, efficient and transparent services to investors.


The One Stop Service Centre will shorten and simplify administrative procedures and guidelines for issuance of business approvals, permits and licenses, thereby removing bottlenecks faced by investors in establishing and running businesses in Botswana. Amongst the services provided through the Centre are company registration, acquisition of work and residence permits, application for land, opening of bank accounts, and connection to utilities


Masisi also brought to light the fact that his Government had confirmed eight (8) Special Economic Zone sites across the country. Government has however, prioritized the mixed use SEZ at Sir Seretse Khama International Airport (SSKIA), Corporate Headquarters and Financial Services in Gaborone. A Master Plan will be completed in December 2017 for the mixed use SEZ at SSKIA which will be followed by the development of detailed designs for the development of SEZ infrastructure. The Gaborone SEZ offers opportunities in diamond beneficiation, logistics, aircraft maintenance, repair and operation, electronics and pharmaceuticals.


He said the Botswana International Financial Services Centre provides another avenue for investment into Botswana. “We are at the end of the process to refine and revitalize the IFSC framework. This will reposition Botswana as a reputable, regional gateway for financial and capital flows into SADC and the rest of sub-Saharan African. The reforms include streamlining, shortening and simplifying the IFSC certification process by infusing it into regular licensing processing; developing a framework for utilization of Professional Advisory Firms; recognition of Fund structures such as Limited Liability Partnerships and Trusts; as well as amendment of the Income Tax Act to eliminate Framework Ring Fencing Provisions.”


Masisi also encouraged investors to look with keen interest in the Selebi - Phikwe region in North Eastern Botswana, where he said there were tangible opportunities in information technology, agro-processing and horticulture. “Government has put in place a framework of incentives including fiscal and direct Government off take on procurement. I therefore wish to implore you to explore and take advantage of these investment opportunities,” he said.

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