Investment
Investment

Botswana’s second-largest city Francistown attracted 9.3 million U.S. dollars in foreign direct investment between April 2019 and Dec. 2019 mainly from Chinese investors, Botswana’s trade minister said Saturday.

Peggy Serame, the southern African country’s investment, trade and industry minister, made this announcement when delivering a keynote address at the official launch of the Botswana Investment Trade Centre (BITC) office in Francistown.

“A total of 9.3 million U.S. dollars (an estimated 93.25 million pula) has been invested in Francistown between April 2019 and Dec. 2019 mainly from the Chinese investors flocking into this city,” announced Serame.

According to Serame, some of these Chinese company owners have been operating in Gaborone, Botswana’s capital city before realizing how imperative it was to expand their businesses to Francistown.

Serame said the investment done in Francistown was recorded across the various sectors such as manufacturing, agriculture and hospitality.

She emphasized that job creation is one of the key priorities for the President Mokgweetsi Masisi administration saying the government of Botswana relies heavily “on the business community in the form these set up by the Chinese to create jobs for our people.”

On the other hand, Serame said the government will do everything within its power to create a conducive environment to facilitate the business community to create the much-needed jobs in a country whose unemployment is estimated at 20.7 percent. Enditem

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