BOTSWANA is exploring the possibilities of establishing businesses in Zimbabwe, especially in the agriculture and manufacturing sectors, NewsDay Business can report
The Botswana Investment and Trade Centre (BITC) representative Itumeleng Teletso told NewsDay Business during the just-ended Zimbabwe International Trade Fair (ZITF) that they were exploring the opportunities to invest in the country.
The organisation brought in eight companies to exhibit at the trade showcase.
“We want to establish and set up in this great nation even long after the ZITF. We will be working towards vision 2030 and some of the various products we produce range from food to manufacturing such as oil, paint, tiles and cement," she said.
“So, these companies are here because we see Zimbabwe as a prospective marketing and trading partner, considering the relationship between our countries has been a good one. We are leveraging what our leaders have already started. Let’s all optimise the opportunities and work.”
She also extended a hand for Zimbabwean companies to invest in Botswana.
“We say you can also come and do business on that side because Botswana is also open for business. We live with Zimbabweans in Botswana so everything is familiar, this is our other home. Although it is my first time at the ZITF, I have been to this country before on other similar missions of work,” she said.
BITC plays a critical role in driving Botswana’s economic growth through the attraction of foreign direct investment, domestic investment and facilitation of expansions and further spearheads the growth of exports by promoting locally manufactured goods to regional and international markets. It also manages the Botswana brand.
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ZimTrade and BITC signed a memorandum of understanding in 2018 to facilitate collaboration and cooperation between the two organisations.
According to ZimTrade, Zimbabwe's exports to Botswana have recorded impressive growth, with value increasing to US$43,38 million in 2022 from US$31 million in 2020.
