Botswana President views UAE as a gateway to boosting trade with Middle East

Botswana Investment and Trade Centre states that the country offers a range of general and sector-specific investment incentives and no foreign exchange controls.

Botswana as a base for investments

According to Dr. Mokgweetsi Masisi, President of the Republic of Botswana, Expo 2020 Dubai has provided his country with the perfect place to showcase its potential to investors and help drive business and economic growth. “Botswana has an established base for multilateral investments into several industries, especially, mining, tourism and food,” Dr. Masisi said.

He went on to state that Botswana has regional trade agreements which can benefit businesses, saying “We want foreign investors to succeed with our strong ecosystem for them to thrive.”

Dr. Mokgweetsi was speaking in front of investors from private sector companies and government officials from both Botswana and the UAE at the Botswana Investment and Trade Conference held at the Ritz Carlton – DIFC, Dubai. Those present included Dr. Thani bin Ahmed Al Zeyoudi, the UAE’s Minister of State for Foreign Trade, Hon. Mmusi Kgafela, Botswana’s Minister of Investment Trade and Industry, Hon. Peggy Serame, Botswana’s Minister of Finance and Economic Development, and figures from Bostwana’s business community.

Dr. Mokgweetsi went on to say that, “Our ministries and companies are here [in the UAE] and finding new roadways of connecting with investors.”

Access to foreign markets

According to Dr. Mokgweetsi, the government has worked to create a legal framework which protects investments, adding that Botswana is a signatory to several regional and international conventions, while highlighting the country’s political stability.

The Botswana Investment and Trade Centre states that the country offers offers a range of general and sector-specific investment incentives and no foreign exchange controls. The United States-Africa Growth & Opportunity Act allows for duty-free and quota-free access to U.S. markets, corporate tax is only 15 percent for manufacturing, and IFSC companies, duty-free and quota-free access to the EU market, and duty-free access to South Africa, Namibia, Lesotho and Swaziland.

Legislation also offers preferential access to the markets of 14 Southern African countries, low personal income tax rates, and zero corporate tax under a Development Approval Order.

Speaking on Botswana, Dr. Al Zeyoudi said, “The UAE and Botswana share a longstanding friendship and partnership, underscored by deep trade and investment ties. In 2021, for example, the total value of non-oil trade between the two nations reached USD 2.5 billion, reflecting 85 percent growth compared to 2020 and 80 percent growth compared to 2019.”