More Indian companies to invest in Botswana

Efforts by the Botswana High Commission in India to lure more Indian companies to invest in Botswana are bearing fruits.

Foreign Affairs and International Cooperation Minister Phandu Skelemani said more Indian companies are now expressing interest in investing in the country.  

He told parliament Thursday that these include companies in pharmaceutical, health service providers and mining.

“India has become a priority country in trade and business for Botswana as its economy is seeing a tremendous growth hence its companies expanding globally,” he said. 

Jindal Power and Steel Company has already invested about US$2 billion (about P14 billion) to buy CIC Energy coal mine. The deal was concluded last year. “The intention of the company is not only to mine coal but to produce power as well,” Skelemani said.

He observed that the impact of this investment would go a long way in addressing the power shortage in Botswana as well as to create employment and skills development.

Other companies eyeing Botswana as an investment destination according the minister include PPN Power Ltd- a company interested in investing in energy and iron ore smelting. The company is currently in negotiations with local potential partners.

Apollo Hospitals Group is also reported to be in talks with the Botswana mission on possibilities of investing here.