• BVI ships over 500 000 doses of FMD vaccines to SAJuly 2, 2025
    … as the country grapples with the worst outbreak in years STAFF WRITER RelatedPosts BVI ships over 500 000 doses of FMD vaccines to SA Tshekedi in BPF race BTCL enjoys strong growth editors@thepatriot.co.bw Botswana Vaccine Institute (BVI) has… Read more: BVI ships over 500 000 doses of FMD vaccines to SA
  • Tshekedi in BPF raceJuly 2, 2025
    Launches campaign ahead of BPF elective congress Tshekedi is heir to BPF throne, an Ian Khama’s creation – Analyst BAKANG TIRO editors@thepatriot.co.bw RelatedPosts BVI ships over 500 000 doses of FMD vaccines to SA Tshekedi in BPF race BTCL… Read more: Tshekedi in BPF race
  • CHOPPIES – FINANCE MANAGERJune 30, 2025
    RelatedPosts CHOPPIES – FINANCE MANAGER LIQUID INTELLIGENT TECHNOLOGIES BOTSWANA – SOLUTIONS ARCHITECT LIQUID INTELLIGENT TECHNOLOGIES BOTSWANA – HEAD OF SALES
  • BTCL enjoys strong growthJune 30, 2025
    Revenue jumps 4% to P1.49 billion Strong 2024 growth attributed to strategy Profit before Tax reaches P259 million, up 30%   BAKANG TIRO RelatedPosts BVI ships over 500 000 doses of FMD vaccines to SA Tshekedi in BPF race… Read more: BTCL enjoys strong growth
  • Motsepe, Butterfly’s last laughJune 30, 2025
    Court orders Botswana govt to apologise to Bridgette Motsepe Apology to cover Ian Khama, Isaac Kgosi, Welheminah Maswabi Botswana to settle huge legal bills, costs for publishing apologies As former President Mokgweetsi Masisi’s blunder haunts Botswana STAFF WRITERS editors@thepatriot.co.bw… Read more: Motsepe, Butterfly’s last laugh
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Sunday, July 6, 2025
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Subscribe
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

BITC pursues domestic investment

patriot by patriot
November 21, 2020
in Business
242
0
491
SHARES
1.4k
VIEWS
ShareShareShare

The CEO of Botswana Investment and Trade Centre (BITC) Kelotsisitse Olebile has conceded that COVID-19 has badly affected the agency’s prospects of attracting Foreign Direct Investments (FDIs) in 2020.

Olebile said the pandemic that has ravaged economies of most countries across the globe and this will affect Botswana in terms of FDIs attraction which will decline by 40%.

RelatedPosts

BVI ships over 500 000 doses of FMD vaccines to SA

BTCL enjoys strong growth

From tenderpreneurship to true entrepreneurship

Business Botswana president Gobusamang Keebine said turning focus into domestic investment facilitation is a welcome development although saying it has not been a priority for many years.

Keebine said BITC in its endeavour of revitalising domestic investment economy must create a conducive environment for existing businesses so that foreign investment can buy into them.

“Domestic investment should have been long prioritised not just in time of crunch brought by COVID-19. To attract investments locally, it is better when we have existing businesses so that foreign investors attracted find it easy to buy instead of starting business from scratch,” he said.    

Economist Sennye Obuseng said it was imminent that FDIs will decline due to the danger posed by COVID-19 to the world stronghold economies that trades with Botswana.

He said domestic investment has always been necessary, indicating that if the country had a robust domestic industry the Citizen Economic Empowerment couldn’t be a problem.

“It is a good move by BITC to relook into the domestic investment perspective but it will be very helpful if the agency could formulate strategy on how they will do it better,” he added.

FDIs in comma

Olebile revealed that FDI reduction as forecasted by the United Nations Conference for Trade and Development (UNCTAD) anticipate minimal FDI, thus turning into domestic activity.

According to UNCTAD, FDI inflows in Botswana rose from USD 177 million in 2017 to USD 229 million in 2018 with the rise mostly attributed to immense increase on automotive sector.

The total stock of FDI in Botswana reached the USD4.82 billion in 2018, estimated at 25.4% of the country’s GDP with mining leading FDIs UNCTAD, World Investment Report of 2019 stated.

“We will conduct a survey on the local businesses during and post lockdown time to assess on how domestic investment attraction can be facilitated. The domestic investments are also very crucial and with COVID-19 disruption BITC has found potential on emerging sectors,” he added.

BITC, he said, during the transition of empowering domestic investment it will be helping local businesses across various sectors to find opportunities that they can use for expansion.

He also indicated that some local businesses were not able to attract potential investors because the majority of them are not aligned to the right investments that suit them.

Consequently, he said, surveys on local business chains could be crucial in repositioning the businesses with their relevant investment opportunities that could help expand footprints. “The survey we have done during the lockdown period on local enterprises  to find out how the period affected them shows that there is a need for stimulus package from the government to help them survive and meet economic hurdles beyond COVID-19 as 99% suggests,” Olebile said.

He elaborated that BITC will continue to lure and follow up on the foreign investment prospects by linking digitally to Botswana diplomats abroad in a bid to woo investors post Coronavirus.

Positives that emerged amidst COVID-19 include online trading paving the way for e-commerce.

Related

Tags: BITCINVESTMENT

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

13 WEEKS OF FAMILY BUILDING

Next Post

Heads to roll at Botswana Railways

Related Posts

BVI ships over 500 000 doses of FMD vaccines to SA
Business

BVI ships over 500 000 doses of FMD vaccines to SA

July 2, 2025
BTCL enjoys strong growth
Business

BTCL enjoys strong growth

June 30, 2025
From tenderpreneurship to true entrepreneurship
Business

From tenderpreneurship to true entrepreneurship

June 27, 2025
Digital Public Infrastructure as a Strategic Imperative
Business

Digital Public Infrastructure as a Strategic Imperative

June 27, 2025
Be a problem solver – Tips from tech-preneur Mothooagae
Business

Be a problem solver – Tips from tech-preneur Mothooagae

June 25, 2025
BoB warns banks
Business

BoB warns banks

June 23, 2025
Next Post
Heads to roll at Botswana Railways

Heads to roll at Botswana Railways

Please login to join discussion
  • BVI ships over 500 000 doses of FMD vaccines to SAJuly 2, 2025
    … as the country grapples with the worst outbreak in years STAFF WRITER RelatedPosts BVI ships over 500 000 doses of FMD vaccines to SA Tshekedi in BPF race BTCL enjoys strong growth editors@thepatriot.co.bw Botswana Vaccine Institute (BVI) has… Read more: BVI ships over 500 000 doses of FMD vaccines to SA
  • Tshekedi in BPF raceJuly 2, 2025
    Launches campaign ahead of BPF elective congress Tshekedi is heir to BPF throne, an Ian Khama’s creation – Analyst BAKANG TIRO editors@thepatriot.co.bw RelatedPosts BVI ships over 500 000 doses of FMD vaccines to SA Tshekedi in BPF race BTCL… Read more: Tshekedi in BPF race
  • CHOPPIES – FINANCE MANAGERJune 30, 2025
    RelatedPosts CHOPPIES – FINANCE MANAGER LIQUID INTELLIGENT TECHNOLOGIES BOTSWANA – SOLUTIONS ARCHITECT LIQUID INTELLIGENT TECHNOLOGIES BOTSWANA – HEAD OF SALES
  • BTCL enjoys strong growthJune 30, 2025
    Revenue jumps 4% to P1.49 billion Strong 2024 growth attributed to strategy Profit before Tax reaches P259 million, up 30%   BAKANG TIRO RelatedPosts BVI ships over 500 000 doses of FMD vaccines to SA Tshekedi in BPF race… Read more: BTCL enjoys strong growth
  • Motsepe, Butterfly’s last laughJune 30, 2025
    Court orders Botswana govt to apologise to Bridgette Motsepe Apology to cover Ian Khama, Isaac Kgosi, Welheminah Maswabi Botswana to settle huge legal bills, costs for publishing apologies As former President Mokgweetsi Masisi’s blunder haunts Botswana STAFF WRITERS editors@thepatriot.co.bw… Read more: Motsepe, Butterfly’s last laugh
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?