According to the US Department of State, Botswana has the best credit rating in mainland Sub-Saharan Africa. The Government of Botswana offers a cutting-edge package of fiscal and non-fiscal incentives to attract foreign investments to its tourism industry in the context of the structural reforms it has undertaken to enhance the industry’s value chain and its multiplier effect on other sectors of the economy.

This strategy falls under the ‘Reset Agenda’ rolled out by the authorities of Botswana to transform the country into a high income economy by 2036.

Sustaining the 5% average annual growth Botswana has achieved during the last decade will require developing new sources of durable growth other than the mining sector and tourism stands out as one of the new pillars of the bubbling economy.

To encourage investment in Botswana, additional tax relief on revenue generated or capital accounts is granted to specific business development projects that will be beneficial to Botswana.

Furthermore, there are also incentives for tourism operators but also, for agriculture and manufacturing industries, based on the geographical region where a company operates.

For instance, the Selibe Phikwe Economic Development Unit(SPEDU) region incentive provides a preferential company tax rate of 5% for the first five years of the business operation and afterwards, a special rate of 10% to qualifying businesses will be applied after approval by the Ministry of Finance and Economic Development.

The SPEDU region covers the following areas:

• Selebi-Phikwe
• Bobonong
• Mmadinare – Sefhophe
• Lerala – Maunatlala
• Neighbouring villages

In addition, the Government of Botswana may, when satisfied that a proposed project would be beneficial to the development of the country’s economy or to the economic advancement of its citizens, issue a development approval order to the business so that it reaps the benefits of the above tax regimes.

The low tax rates aim at not only giving a competitive edge to foreign investors as compared to other destinations but also, to encourage re-investments.

Furthermore, interest, commercial royalty or management consultancy fees and dividend by an International Financial Services Centre or Collective Investment Undertakings to a non-resident, are exempt from withholding tax.

Tourism is a service and customer-centred industry and to encourage companies to train their employees, they can claim a deduction of 200% of their training expenditures when determining their taxable income.

Botswana is one of the few countries in Africa with no foreign exchange control and it has created the conducive environment for the increasing flow of foreign direct investments.

To assist investors, the Government of Botswana has created the Botswana Investment and Trade Centre (BITC) which spares no effort in streamlining business-related procedures and eliminating bureaucratic impediments to facilitate the ease of doing business recommendations of the World Bank.

Last but not least, the country has already implemented Online Business Registration System (OBRS) reducing the time frame for the business registration process.

In order to discover tourism investment opportunities in Botswana, you can attend the first-ever Botswana Tourism Investment Summit jointly organized by the Botswana Tourism Organisation (BTO) and International Tourism Investment Corporation Ltd (ITIC) and in collaboration with the International Finance Corporation (IFC) , a member of the World Bank Group will take place on 22 to 24 November 2023 at the Gaborone International Convention Centre (GICC), Botswana.

The Summit will be instrumental in raising awareness of the Botswana potentials and investment opportunities to the world by leveraging on the country’s sound corporate governance, rule of law and structural reforms already initiated and largely implemented.

In addition, Botswana is the second safest country to live in Africa and has created the conducive environment that enhances the ease of doing business leading to the right business climate to attract foreign direct investments.

To attend Botswana Tourism Investment Summit on 22 – 24 November 2023, Please register here www.investbotswana.uk

To attend Botswana Tourism Investment Summit on 22 – 24 November 2023, Please register here www.investbotswana.uk

Botswana stands out as a reference in sustainable tourism in Africa. 37% of its land are protected as national parks or wildlife management areas to preserve the country’s wildlife and rich natural treasures.

In parallel, local communities are supported especially in the rural areas to reap the benefits of ecotourism initiatives and infrastructure, thus, contributing to support social inclusion and economic development country-wide.

In addition, part of the revenues generated by tourism-related activities are re-invested in conservation programmes.

Botswana is hailed as one of the pioneer countries of sustainable tourism policies and practices in Africa. It established a National Ecotourism Strategy as early as in 2002, making it one of the globally acknowledged sustainable tourism destinations.

Wildlife sanctuaries have been created to save several endangered species such as rhinos and protect free-roaming elephant herds from poachers.

In the Okavango Delta, a UNESCO Heritage World Site and its surroundings, for instance, the safari camps and lodges preserve the environment so that the future generations and the local communities can continue to enjoy and benefit from sustainable commercial operations.

A carefully planned approach to tourism which has led this industry to become over the years the second pillar of the economy of Botswana and the destination to be for the discerning international travellers!

The country is now home to one of the largest populations of elephants in an African state, with more than 200,000.

Moreover, as part of the Botswana National Ecotourism Strategy (2002), an Ecotourism Certification System has been rolled out to encourage but also, to support responsible environmental, social and cultural behaviour by businesses operating in the country’s tourism industry and to ensure that they provide quality eco-friendly products to consumers.

Key environmentally responsible standards have been set for businesses to comply with or even exceed them.

The approach of the Government of Botswana has since then been aiming at attracting high-income, low volume tourism so as to minimise the impact on the natural landscape and heritage of the country.

Discover tourism investment opportunities at the first-ever Botswana Tourism Investment Summit jointly organized by the Botswana Tourism Organisation (BTO) and International Tourism Investment Corporation Ltd (ITIC) and in collaboration with the International Finance Corporation (IFC) , a member of the World Bank Group will take place on 22 to 24 November 2023 at the Gaborone International Convention Centre (GICC), Botswana.

The Summit will consist of sessions focusing on key challenges and trends and will act as a catalyst to have a transformational change in the tourism landscape of Botswana.

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To attend Botswana Tourism Investment Summit on 22 – 24 November 2023, Please register here www.investbotswana.uk

The place to be to seize the country’s untapped investment opportunities

The first-ever Botswana Tourism Investment Summit will be held in the capital city, Gaborone, from 22 to 24 November 2023

Organised jointly by UK-based International Tourism Investment Corporation (ITIC) and Botswana Tourism Organisation (BTO) in collaboration with World Bank Group’s International Finance Corporation, the Botswana Tourism Investment Summit will offer a unique platform to international investors and tourism forward-looking professionals to explore the country’s untapped investment opportunities.

They will not only be able to capitalise on the sustained economic growth of Botswana averaging 5% over the last decade, but also, on the expected rise in demand for tourism ancillary products and services following this event and/ or use Botswana as a hub to extend their commercial and investment activities in the Southern African region.

The most sought-after global hospitality leaders as well as the investors from private equity firms, investment banks… have already expressed their firm interest in attending the Botswana Tourism Investment Summit.

The Botswana Tourism Investment Summit will offer a professional one-window interface, the first-of-its-kind and wholeheartedly supported by the Government of Botswana for potential investors to connect directly with tourism project developers or with existing operators wishing to expand their infrastructure and seize bankable investment opportunities.

Last but not least, Africa’s Diamond Exchange, the Southern African Development Community (SADC) headquarters and several multinationals are located in Botswana due to the country’s stable political and social environment, vibrant democracy, strong adherence to world-class good corporate governance rules, conducive environment for doing business, robust and independent legal system as well as investment protection treaties.

The expected flow of new investments in the tourism industry of Botswana will have a multiplier effect on other sectors of the country’s economy and contribute to impart another momentum to the growing trade exchange between Botswana and its commercial partners.

For instance, a 90.3% rise in the total trade in goods and services between the United Kingdom and Botswana has been recorded by GOV.UK web site during the four quarters up to the end of the first quarter of 2023 compared to the corresponding period in 2022.

Furthermore, the organisers of the Summit have already selected several sustainable projects which will be showcased so that investors and tourism professionals accrue high returns under different partnership arrangements.

In addition, ITIC will act as an enabler and a single point of contact to fast-track the investment process in Botswana and get projects off the ground or obtain clearances within the shortest possible time frame.

The Summit will be instrumental in raising awareness of the Botswana potentials and investment opportunities to the world by leveraging on the country’s sound corporate governance, rule of law and structural reforms already initiated and largely implemented. In addition, Botswana is the second safest country to live in Africa and has created the conducive environment that enhances the ease of doing business leading to the right business climate to attract foreign direct investments.