Botswana’s Minister of Investment, Trade and Industry Bogolo Kenewendo.
Botswana’s Minister of Investment, Trade and Industry Bogolo Kenewendo.

Botswana records positive FDI inflows in past year: minister

By Andrew Maramwidze Time of article published Aug 25, 2019

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INTERNATIONAL – Botswana recorded positive foreign direct investment inflows in the past fiscal year, minister of investment, trade and industry Bogolo Kenewendo said.

Kenewendo told the press that a total of about 290 million US dollars' worth of foreign direct investment was realized in the 2018/19 financial year against a target of $210 million.

"The positive FDI inflows were as a result of a number of companies investing a significant amount of money under the International Financial Service Centre (IFSC) and the mining sector," said Kenewendo.

The minister said a total of about $310 million worth of domestic and expansions investment was achieved in the same period against a target of 250 million US dollars.

Kenewendo said the investments are contributing towards fulfillment of National Development Plan 11's ultimate goal of addressing the country's main development challenge of unemployment.

Statistics indicate that the Ministry of Investment, Trade and Industry facilitated and funded the creation of 7,756 jobs from April 2018 to March 2019. 


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