- Notes it accounts for over a 3rd of country’s GDP and more than a 3rd of govt revenue
- Underlines sector’s robust regulatory framework for attracting investors
- States: “We are also proud of our skilled and educated workforce”
- Says not many countries can match Botswana credentials as “a peaceful, stable and democratic country”
GAZETTE REPORTER
Botswana’s mining sector is not only a creator of high-quality jobs but also a substantial contributor to the nation’s economy that accounts for over a third of the country’s GDP and more than a third of government revenue, the Minister of Trade and Industry, Mmusi Kgafela, has said.
Speaking at the closing ceremony of The Future of Mining Summit 2024 in Gaborone recently, Minister Kgafela stated: “Statistics underscore the importance of the industry and the need for continuous dialogue and collaboration among stakeholders to drive our country forward.”
He noted that one of the primary objectives of the summit was to position Botswana as a leading mining investment destination in Africa. “As a government, we recognise our role in ensuring that Botswana remains competitive and attractive to investors,” he said.
Investor-confidence
“We are committed to creating an environment that nurtures investment through the establishment of a robust regulatory framework that meets international standards.”
Kgafela underscored the importance of a strong regulatory framework to attract and retain investment in the mining sector. “We are aware that investor-confidence hinges on transparent, predictable, and fair regulations,” he said.
“Therefore, we will continuously review our laws to ensure they are investor-friendly and that they facilitate rather than hinder growth. We will also support our government agencies in delivering on their mandate effectively, ensuring that they have the resources and capabilities needed to support the industry.”
In a global race
The minister highlighted the critical role of the Botswana Investment and Trade Centre (BITC). “It is an important government agency under my ministry, with a clear mandate of ensuring that investors are well-supported, and their needs are met,” he said.
“We all recognise that the competition for attracting investors is fierce. We are in a global race, competing not just with our neighbours but with countries across continents. In such a competitive environment, Botswana’s unique advantages should stand out.
“We are a peaceful, stable and democratic country. Not many countries can match such credentials on this continent. Our transparent regulatory framework ensures that investors can operate with confidence, knowing that the rules are clear and consistently applied.”
Infrastructure
Furthermore, Minister Kgafela said Botswana offers a wealth of natural resources, particularly in the mining sector. “Botswana’s rich deposits of diamonds, copper, nickel, and coal present numerous opportunities for investment and development,” he pointed out.
“In addition to our natural resources, Botswana is strategically located in Southern Africa, providing a gateway to regional markets. Our fairly developed infrastructure, including roads and telecommunications, facilitates easy access to these markets.
“We are also proud of our skilled and educated workforce. Botswana invests heavily in education and training, ensuring that our workforce is equipped with the skills needed to support a modern, diversified economy.
Human capital development
“Our commitment to human capital development means
that investors will find a pool of talented individuals ready to contribute to the success of their enterprises.”
Kgafela iterated Botswana’s reputation as one of the premier destinations of mining investment, a status built over decades of strategic partnerships, robust policies, and a commitment to fostering an investor-friendly environment.
“One of the most compelling testimonies to our success is the longstanding relationship we share with De Beers,” he pointed out. “This partnership, now spanning over half a century, is a testament to the conducive and collaborative business environment that Botswana offers.
Botswana-De Beers partnership
“The Botswana-De Beers Group partnership is regarded as the most successful public-private partnership in the world and has not only contributed significantly to our economy but also to the social and infrastructural development of our nation.”
He highlighted Botswana’s readiness to welcome and support investors. “Our proven track record speaks volumes about what we can achieve together,” he said. “We are dedicated to building and nurturing relationships that not only thrive today but that will continue to prosper for generations to come.”
The summit, which gathered stakeholders from across the mining sector, underscored the critical role of continuous dialogue and collaboration in driving the industry forward.
With its stable political environment, robust regulatory framework, and wealth of natural resources, Botswana is well-positioned to attract and retain significant mining investments, ensuring sustained economic growth and development.