Botswana Explores Investment Opportunities in Zimbabwe's Agriculture and Manufacturing Sectors

On April 30, 2024, Itumeleng Teletso, a representative of the Botswana Investment and Trade Centre (BITC), announced at the Zimbabwe International Trade Fair (ZITF) that Botswana is exploring opportunities to invest in Zimbabwe's agriculture and manufacturing sectors. BITC brought eight Botswanan companies to exhibit at the trade event, with the goal of establishing businesses in Zimbabwe and working towards the country's Vision 2030.

Teletso stated that Botswana sees Zimbabwe as a prospective marketing and trading partner, given the good relationship between the two countries. "We want to establish and set up businesses in Zimbabwe, particularly in industries such as food production, oil, paint, tiles, and cement," said Teletso. She also extended an invitation for Zimbabwean companies to invest in Botswana, as the country is also open for business.

The Botswana Buyers Forum, organized by BITC and the Botswana Embassy in Harare, served as a platform for business interactions and connections between the two countries. Botswana Ambassador to Zimbabwe, Sarah Sethabile Molosiwa, highlighted the positive impact of Zimbabwe's industrialization policies and innovative business approaches, noting that such collaboration and mutual appreciation contribute to the growth and prosperity of both countries.

Why this matters: The potential investment from Botswana in Zimbabwe's agriculture and manufacturing sectors could provide a significant boost to Zimbabwe's economy and contribute to the country's Vision 2030 goals. This collaboration also strengthens the bilateral ties between the two neighboring countries, fostering economic growth and cooperation in the region.

BITC plays a critical role in driving Botswana's economic growth through foreign direct investment, domestic investment, and export promotion. In 2018, ZimTrade and BITC signed a memorandum of understanding to facilitate collaboration and cooperation between the two organizations. Zimbabwe's exports to Botswana have recorded impressive growth, with the value increasing from US$31 million in 2020 to US$43.38 million in 2022. In 2023, Botswana exported goods worth US$81.06 million to Zimbabwe, including commodities like salt, bricks, batteries, vaccines, footwear, and stationery.

Key Takeaways

• Botswana exploring investment opportunities in Zimbabwe's agriculture and manufacturing
• Botswana companies exhibited at Zimbabwe's trade fair to establish businesses
• Botswana sees Zimbabwe as a prospective marketing and trading partner
• Botswana Buyers Forum facilitated business interactions between the two countries
• Botswana's investment could boost Zimbabwe's economy and Vision 2030 goals