Botswana seeks investments from India

Botswana has sought investments from India in key sectors like diamond, agriculture, mining, energy, information and communications technology (ICT), which is appropriate for the priority sectors of its economy.
"Our goal is to attract as diversified a number of Indian investors and entrepreneurs as is appropriate for our priority sectors of the economy as possible so as to meet the economic impetus by investors in India," Republic of Botswana Vice President Mokgweetsi E Masisi told PTI on the sidelines of CII's 'Invest in Botswana' event here.
He said Botswana Investment and Trade Centre (BITC) offers a sustainable low-tax environment for financial services companies.

"Financial services companies get a discounted corporate tax rate of 15 per cent of profits and are exempted from withholding tax on interest, dividends, management fees and royalties paid to a non-resident.
"They are further exempted from value added tax. Capital gains tax and disposal of shares are also tax exempt for these companies," he said.
The vice president said there is also huge opportunity in the diamond sector in Botswana.

"We are particularly focused on the diamond sector that provides trading cutting and polishing. We want to finalise developing a diamond institute in Botswana with India's support," Masisi said.

The diamond sector also has investment opportunities in ancillary support services like banking, security, insurance, certification and brokerage services.
The vice president, who is on a four-day visit to India leading a 25-member business delegation, said Botswana is also keen on investment in the ICT sector.
"ICT is a key sector and provides huge investment opportunities in our country and will help every other sector, including infrastructure, energy, among others," he added.
Agriculture is another sector in which Botswana is seeking Indian investments, especially technology, for better agricultural practises.
"Except beef, we import most agricultural produce to meet the needs of the country. As we are mostly dependent on rains, which is mostly erratic, we are dependent on imports.

"We import tea, coffee, live trees, cut flowers, roots, spices, bulbs, among others, from India. We would like to partner with India for irrigation and good agricultural practices for better yield in order to become self sufficient," he said.
The vice president said during his four-day visit to India, he will also promote Southern African Development Community (SADC) as a strategic investment destination for Indian investors.