Botswana Seeking Israeli Investment in the Country’s Future Economy
December 02, 10(IDEX Online News) - In a bid to diversify its economy away from a dependence on diamonds, a delegation from Botswana is visiting Israel seeking investments by Israeli companies in the country. This is the second official visit in the past three weeks, coming on the heels of a visit by the Foreign Minister last month.
Jacob Nkate, CEO of the Botswana Development and Investment Authority (BEDIA) said at a press conference yesterday, that Botswana wants to diversify its economy away from a dependence on diamonds and mining. He said that diamonds and other natural resources will become depleted in the future, and that the country must base its economy on other industries.
The delegation, led by Assistant Minister of Trade and Industry Maxwell Motowane, comes in the wake of the Botswana government’s decision to encourage Israeli companies to invest in the country – in the fields of water and agro-technology, infrastructure, HLS, alternative energies, health equipment and pharmaceuticals, communications and IT and diamonds.
“We would like Israeli companies to bring their know-how and technology and to set up partnerships in Botswana,” said Assistant Minister Motowane.
Nkate said that he would like to see further diversification in the diamond sector, including jewelry manufacturing.
Moti Ganz, Chairman of the Israel Diamond Institute (IDI), which organized the press conference said that the Israeli companies manufacturing plants in the country had been in Botswana for five years and that they have gained more than they expected out of the investment. Ganz ranked his experience in the country as “ten out of ten” and added that all investors would enjoy doing business in Botswana.