Botswana s Competitive Business Advantage. Meshack Tshekedi, Chief Operations Officer February 2016

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1 Botswana s Competitive Business Advantage Meshack Tshekedi, Chief Operations Officer February 2016

2 Contents Introduction to Botswana, Macro-economic data Botswana s Competitiveness Strengths Pertinent to Business Environment & Attractiveness Key Sector Opportunities Special Economic Zones (SEZs)

3 Botswana : at a glance Population 2.1 Million Borders S.A, Zimbabwe, Namibia, Zambia Land km² GDP (4% 2017) USD 15.8 Billion (2014) GDP per Capita USD (2014) Inflation 2.7 January 2016 Interest Rates Bank rate 6%: Prime rate 8% 3

4 Geographic location: proximity to fast-growing markets Botswana is in the heart of economies in the region that are expected to grow 5% on average between 2015 and 2020 Growing income levels Growing regional demand Expansion of intraregional growth Growing commercial opportunities Average GDP Growth f >6% 4-5.9% 2-3.9% <2% Source: WEO IMF, 2015

5 Botswana s Competitiveness

6 Botswana: a competitive African economy 5 4, Sub-Saharan Africa , ,5 2 1,5 1 0,5 0 Score Average Botswana is the 4 th most competitive economy in SADC, after Mauritius, South Africa and Rwanda Source: WEF GCR,

7 Botswana s top performing pillars in the GCR rankings Pillar 3:Macroeconomic environment Pilliar 1: Institutions Pillar 7: Labour market efficiency Pillar 8 : Financial market development Botswana stands out on a number of the 12 pillars: Ranks 9 th in the world in terms of soundness of macroeconomic environment (1 st in SSA; South Africa: 85 th in the world) Ranks 39 th in the world in terms of labour market efficiency Ranks 63 th in the world in terms of soundness of institutions Source: WEF GCR,

8 Botswana s Pertinent Strengths & Attractiveness

9 Pertinent business environment strengths Zero tolerance to corruption Transparency International Ranking Sound legal system and adherence to the rule of law Political stability, Sustained periods of economic growth, sound macro-economic discipline Labour market stability, predictable with an 82% literacy rate Highest Investment grade sovereign credit rating in Africa A- and A-2 short and long term (Standard & Poors) / A2 by Moody s No foreign exchange controls Remittances and full repatriation of profits and dividends No restrictions on business ownership

10 Competitive Tax Framework Low Tax regime Low tax environment (22% vs peer Average of 27%) 15 % for manufacturing, financial services companies & companies registered in the Innovation Hub 22% corporate tax for other sectors Low personal income tax, maximum 25% 12% Value Added Tax Possible tax holidays for 5 10 years (DAO) Duty-free import of machinery and equipment for manufacturing purposes 200% Tax Allowance for Training costs 10 Investment Opportunities in Botswana

11 Key Sector Opportunities

12 Sector opportunities premised on economic diversification Agriculture & Agribiz, Leather Cluster Transport & Logistics Manufacturing, Autos & Components Cluster Financial & Business Services Mining Energy ICT Tourism Education Health

13 Principal import commodity groups 2014 (BWP Millions) Import Bill in 2014 reached BWP 72 billion (Statistics Botswana 2015) Diamond constituted 36% of total imported products (BWP25bn) Followed by fuel 15% (BWP 10bn) Machinery & electrical equipment 11% (BWP8bn) Food beverages & tobacco 9% (BWP6bn) etc Wood & Paper Vehicles & Products Transport Equip 2% 8% Textiles & Footwear 3% Salt Ores & Related Products 1% Metals & Metal Products 4% Furniture 1% Machinery & Electrical Equip 11% Fuel 15% Other Goods 2% Food Beverages & Tobacco 9% chemicals & Rubber Products 8% Diamonds 36%

14 Principal export commodity groups 2014 (BWP millions) In 2014 Botswana exported goods worth BWP 76bn Botswana s export commodities highly concentrated in the mineral sector, diamonds, copper nickel, Gold, salt & Soda Ash Diamonds and Copper Nickel combined constituted over 90% of exported products (diamonds BWP 65bn and Copper 7 Nickel BWP 4 bn) Others e.g. Meat and Meat products, machinery and electric equipment were negligible (meat and meat products only contributed a 1% of total exported products 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0%

15 Botswana s Special Economic Zones (SEZs)

16 Relevance of SEZs to Economic Development Special Economic Zones (SEZs) are designated areas within a geographical area of a country that function with SPECIAL administrative, regulatory and fiscal regimes that are different from the domestic economy. Primary Aim of SEZs (Incentives) must overcome barriers to trade, investment & the attraction of FDI Address (ie) restrictive Policies, excessive bureaucracy and limited access to serviced land Creation of competitive, investor friendly business environment to attract both domestic & foreign investors Fast tracking of all Authorisations to start & operate a business within the zone (achieve business efficiencies):- (Company formation, licensing & permitting, incl. work & Res. Permits) Provide simplified/ streamlined regulatory compliance procedures require minimum documentation & quality SEZ infrastructure Increase and diversify our export, increase our foreign earnings Create substantial employment Effective instrument to overcome barriers to trade, investment & attraction of FDI is used internationally (India, China, Malaysia, Mauritius & Kenya)

17 Market Access Southern African Customs Union (SACU). Duty free and quota free market access to more than 50 million consumers in Botswana, South Africa, Namibia, Lesotho and Swaziland Southern African Development Community (SADC) Trade Protocol & SADC-EU EPA o Preferential market access to more than 277 million consumers in the SADC region The African Growth and Opportunity Act (AGOA) o Duty free and quota free market access to the USA The on-going discussions of the COMESA-EAC-SADC Tripartite Free Trade Area o When concluded it will offer Botswana a market of over 700 million 17 people Investment Opportunities in Botswana

18 Investor Value Added Services Investment facilitation services (One-Stop-Shop);- Company & Business Registration Opening of Bank Accounts Entry Visas, Work & Residence Permits & Exemptions Trade & Business License Applications Utility Connections Income Tax & VAT Registration Industrial & Commercial Land / Factory Shells Incentives; IFSC, Manufacturing, Tax Holidays (DAO) Aftercare Services renewals, expansions etc. 18 Environmental Impact Assessment Compliance Investment Opportunities in Botswana

19 Tel Fax Thank You

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