Foreign Direct Investment will generate 1067 of the jobs
TLOTLO KEBINAKGABO
The Botswana Investment and Trade Centre (BITC) has P680 million in investments that are expected to generate 2340 jobs.
“The companies are mainly waiting for allocation of land and factory shells. Most of these companies are in the manufacturing sector,” the organisation’s CEO, Kelotsositse Olebile, told journalists at a media briefing in Gaborone recently.
Olebile said the companies are 40 in total, with a combined investment value of P679 327 083.
According to BITC, a breakdown of the P680 million investment shows that P96 927 083 and 1067 jobs will come through foreign direct investment. The domestic quotient of this P181 100 000 that is expected to create 503 jobs while expansion of the companies will add P202 300 000 and create 770 jobs.
BITC was established to promote and attract investment, promote exports, manage Botswana’s national brand, improve the investment climate through policy advocacy, increase citizen participation in the economy and creation of sustainable jobs.
Meanwhile, Olebile said BITC had used 92 percent of its budget, having spent P119 300 000 from its P130 978 560 budget for 2018/19 financial year. The organisation generated P2 628 million, compared to P2 676 million that it initially set for itself.
She praised BITC’s Botswana One Stop Service Centre (BOSSC), which is the organisation’s investment facilitation service that houses relevant government agencies to provide prompt, efficient and transparent services to investors.
“It registered a steep increase in utilisation of its services and processed 602 government authorizations, compared to the 370 in the previous financial year,” Olebile said. “It also worked well in encouraging investors to retain their investment in Botswana, expand their businesses and diversify into other opportunities available within the country.”
BOSSC was also lauded for generating new investment leads and making existing investors ‘ambassadors’ of Botswana as a preferred investment location.