Botswana poised fore USD 10 billion FDI before end of year

 

Botswana is set to receive a USD 10 billion investment from various investors during the first year of the ruling UDC government.

While this may seem like a fairy tale, it is a reality, according to renowned businessman Michael Keakopa. A well-traveled and highly respected entrepreneur, Keakopa has dedicated himself to leading a campaign urging investors to make Botswana their top investment destination.

Keakopa, renowned for spearheading Madibelathopho—a UDC-affiliated group credited with playing a crucial role in the party’s rise to power—has now shifted his focus to a new phase of political leadership.

This involves extensive global travel to attract investors and create much-needed employment opportunities. A former banker with the central bank, Keakopa was initially hesitant to accept a government position, choosing instead to concentrate on private business.

Recognising his relentless efforts in attracting Foreign Direct Investment (FDI)—often using his own resources—President Advocate Duma Boko ultimately supported his decision to remain in the private sector.

In an exclusive interview with Botswana Guardian, Keakopa revealed, “President Boko decided to deploy me within the private sector, which aligns with what I have always been doing, despite my temporary shift during the UDC election campaign.

“After careful consideration, he told me, ‘I believe the status quo should remain—you are making a significant impact in business, and I want you to continue in that space.’

'He assured me that he never doubted or undermined my request to remain in private business. While he initially wanted my services in government, he ultimately respected my decision. However, he emphasised that as President, he would fully support me in my endeavours whenever needed,' Keakopa shared.

A seasoned banker, transport operator, and former Wildlife Officer, Keakopa told this publication that he and Boko had mutually agreed that he should continue operating in the private sector.

'If you recall from our initial discussions, I have always run my own businesses. Essentially, I am returning to my roots—reviving some enterprises that had become stagnant while also exploring new business opportunities.'

Since the UDC assumed power, Keakopa has launched an initiative to travel across the globe, attracting foreign investors to Botswana.

'So far, the efforts have been successful. I am pleased to report that some investments have already materialised as a direct result of this initiative.'

He said this aligns with one of the UDC’s key campaign promises—to attract investors and create jobs.

'The reality is that we cannot effectively address our country’s high unemployment rate unless we aggressively pursue foreign investment.

“I take pride in knowing that my work directly contributes to fulfilling the UDC’s mandate in this regard.'

To date, Keakopa has visited neighbouring countries, including Namibia twice, Zambia, Zimbabwe, and South Africa—ten times—recognising its economic strength.

He has also travelled to China, where most of the anticipated investments are expected to originate. His next stops include a return trip to China next week, followed by a visit to Britain.

Following the UDC’s victory, many of Keakopa’s global business associates reached out to him for meetings. They expressed frustration over the bureaucratic red tape that had previously discouraged them from investing in Botswana, despite their longstanding interest in doing so.

'As the UDC, we have set a target of securing USD 10 billion annually to elevate this great nation, particularly in job creation. I am confident that we will reach this investment goal before the end of our first year in government,' he stated.

While acknowledging that the government has yet to fulfil certain promises outlined in the party's manifesto—such as providing a P2,500 student allowance and P1,800 for the elderly—Keakopa remains optimistic.

'We will honour these commitments within the first year, especially given the positive response from investors I have engaged with.'

Keakopa disclosed that some investors have already begun establishing operations, with some entering into partnerships with him. He said that Boko is well-informed about his investment efforts, closely monitoring his travel schedule and even facilitating ministerial support when necessary.

'He fully endorses my trips and has, on occasion, released relevant ministers to accompany me to ensure we achieve maximum results.'

The Future of Madibelathopho

Asked about the next steps for Madibelathopho, Keakopa explained that the group has shifted its focus from ushering the UDC into power to ensuring the government remains on track with service delivery.

'We are still in a transition period, and some political appointees from the previous administration remain in key positions.

“While this continuity has its benefits, it also poses risks, as their loyalties may still lie with the past government. Madibelathopho has taken note of this and actively alerts ministers about these concerns, particularly regarding corruption.'

Keakopa pointed out that under the previous administration, law enforcement agencies had been deliberately weakened to enable corruption to flourish.

As a result, despite the existence of anti-corruption bodies, public trust in them has eroded. 'This is why many people now prefer to report corruption directly to us,' he noted.

So far, Madibelathopho has been approached by numerous individuals and civic organisations proposing partnerships to expand its scope and enhance its role in serving the nation.

Keakopa welcomed the idea, stating, 'This aligns perfectly with our vision. While we remain closely tied to the UDC, our mission is ultimately to serve the people.

'We have engaged with the Diplomatic Corps based in Botswana, and they have expressed strong interest in the Madibelathopho initiative.

“They recognise its potential to strengthen democracy in our country and have offered their support,' Keakopa revealed.

'We have already met twice with the U.S. Ambassador, Howard Van Vranken, who is pleased with our work and has indicated a willingness to offer support.'

Keakopa added that Madibelathopho will soon call a press conference to publicly announce how the U.S. Embassy intends to assist. 'This is a clear sign that our initiative is expanding in the best interests of the nation.'

Resuming Public Education

Keakopa also highlighted Madibelathopho’s plan to resume its public education efforts, which had paused after the elections.

'Our initial phase was focused on achieving a historic change in government after 58 years of independence. Now, we shift our focus to civic engagement and constitutional awareness.'

He pointed out that while the previous government attempted constitutional reforms, many critical issues remain unaddressed.

'As the UDC, we believe that before any review takes place, citizens must first understand the constitution—its strengths, weaknesses, and areas that need improvement.

“Public awareness is essential so that when the UDC undertakes constitutional reforms, people can contribute meaningfully.'

Another key focus is electoral reform.

'The UDC has long advocated for changes to the electoral law, particularly ensuring that ballots are counted at respective polling stations.

“This has been a longstanding demand from opposition parties. Madibelathopho sees this as a civic duty, and we will continue working alongside experts and other organisations to ensure public understanding and support for these reforms.'

Keakopa revealed that President Boko emphasized the need for dedicated individuals within the private sector to support the UDC’s governance efforts.

'He pointed out that while the government focuses on running the country, the party also needs people to drive economic empowerment in the private business space. A closer look at the landscape shows that very few Batswana own high-value, well-established businesses.'

He attributed this to the previous government’s failure to meaningfully empower citizens to become key players in the economy.

'This needs to be a deliberate and intentional process to ensure that Batswana gradually gain full economic benefits, rather than simply receiving leftovers.'

Addressing Madibelathopho Concerns

Responding to concerns raised by some Madibelathopho members who felt side-lined after UDC’s rise to power, Keakopa acknowledged social media reports suggesting discontent among the group.

'Some members feel that after playing a crucial role in bringing the UDC into government, they are now being overlooked.'

He assured them that their contributions have not been forgotten.

'One of my key priorities is engaging with them to reaffirm their importance. However, change is never immediate. Just as I am working to attract investors, once these businesses are established, jobs will be created, and many Batswana—including Madibelathopho members—will have employment opportunities.'

Keakopa stressed that both he and President Boko fully understand and appreciate their concerns. However, challenges remain.

'Things are not moving as smoothly as planned because we inherited a severely strained national budget. Our economy is heavily reliant on diamonds, and right now, sales are underperforming.'

Despite these challenges, Keakopa remains optimistic about the future. 'With patience and strategic planning, we will create the opportunities that our people deserve.'

When asked how potential investors will be protected from conflicts of interest given his role as a lead campaigner, Keakopa emphasised that he approaches them strictly as a businessperson.

'I understand the challenges our country faces in attracting investors. In the past, some individuals in similar positions prioritised their personal interests over national development. My approach is different.'

Keakopa also clarified that he does not receive any financial reward or assistance from the government, except in cases where policy decisions need to be made.

'For example, when an investor expresses interest in a sector reserved for citizens, I assess the situation and consult with the relevant minister. If the policy is unclear, I ask whether we should let the investor take their business elsewhere. If I don’t get a resolution, I escalate the matter to the President, who makes the final decision.' He highlighted the beef industry as an example of a sector currently attracting investor interest.

'Right now, many investors want to enter the beef industry. The question is—do we allow them, and what does this mean for the Botswana Meat Commission (BMC)?

“These are the policy clarifications I need, as investment remains on hold until such matters are resolved.'