Botswana Investment & Trade Centre
Botswana
95 employees
Established in 2014
Company description
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Botswana is stable, peaceful and transparent We have been at peace since our birth as an independent, sovereign nation in 1966; We have zero tolerance for corruption, and we boast of a sound legal system and adherence to the rule of law; We have been consistently rated as the least corrupt country in Africa by Transparency International. Botswana is committed to sound fiscal policy, economic freedom and has a steady and dramatic growth rate We have the highest sovereign credit rating in Africa according to Standard and Poor’s and Moddy’s ranking with corresponding positive outlook; Botswana ranks 2nd as the freest economy in Africa; Botswana GDP in 2016 was USD 15.6 billion with per capita GDP of USD 6.972 with a growth of 4.3% from 2015 level; We have one of the fastest economic growth rates in the world with the economy projected to grow by 4.7% and 5.3% in 2017 and 2018 respectively. Botswana opens the door to a massive market We provide investors with preferential market access to the Southern African Development Community (SADC), entire market place – over 293 million people in 14 countries, with the combined GDP of more than USD 700 billion; We open up duty – free access to South Africa, Namibia, Lesotho and Swaziland through the Southern African Union (SACU); Botswana is in the heart of economies in the region that are expected to grow by an average of 5% between 2015 and 2020. We provide duty – free and quota – free access to the European Union (EU) market through the EU – SADC EPA agreement and duty – free quota free access for more than 6800 products into the United States of America (USA) market through the Africa Growth Opportunities Act (AGOA) agreement. The quality of Botswana’s workforce is second to none in Africa The workforce is well educated-- 82% are literate-- and most speak English; There are no labor tensions; Our people are peaceful and responsible, and the different communities maintain harmonious relations. The Government of Botswana wants to make your investment work for you We have no foreign exchange controls or restrictions on business ownership; Taxes are very low – 15% for manufacturing, IFSC and Innovation Hub companies, maximum 22% corporate tax for other sectors; and maximum 25% for individual; We allow remittance and full repatriation of profits and dividends; Duty – free import of machinery and equipment for manufacturing purposes; Possible tax holidays for 5 – 10 years under the Developmental Approval Order; The workforce is well educated (82% are literate) and most speak English, government allows for 200% tax allowance for training costs; Preferential incentives in Special Economic Zones; Effective investor facilitation through the Botswana One Stop Service Centre (BOSSC).BITC's Export Development Programme (EDP) provides an opportunity for companies to achieve their market expansion objectives in Botswana. The EDP aims to increase exports, of products and services that add domestic value and contribute to the diversification of the economy. It provides a platform to ensure participating companies are given intensive support to enhance their export competitiveness establish a significant foothold in regional and international markets. The programme offers an integrated approach to training and educating potential exporters, and takes into account the needs of larger and established exporters. Targeted sectors for the EDP are textiles and garments, meat and meat processing, jewellery making, furniture, arts and crafts, services, leather and leather products, glass and glass products and chemicals. Companies outside the targeted sectors will also be considered. Qualifying Criteria To be enrolled into the programme, companies must: Have firm interest and commitment to export. Have minimum annual turnover of P500,000. Be a Botswana registered company.Botswana is committed to continued growth We are consistently investing in new and improved core infrastructure such as power plants, fiber-optic networks, roads, railways and international banking institutions; BOSSC is an investment facilitation centre within BITC which houses relevant government agencies as a single cohesive structure that provides prompt, efficient and transparent services to investors. BOSSC has made available shortened and simple 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.BOSSC is an investment facilitation centre within BITC which houses relevant government agencies as a single cohesive structure that provides prompt, efficient and transparent services to investors. BOSSC has made available shortened and simple 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. For more informationa contct
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Commercial information
Presence:
United Kingdom, India, South Africa
Main customers:
Private companies, investors and exporters
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