BITC dangles a carrot to Zimbabwean companies
Botswana Investment Trade Centre (BITC) has put out a call to Zimbabwean companies, to utilise the local economy, and raise operation funds. Speaking at the 40th anniversary of the Zimbabwean based Emeritus International Reinsurance Company, the BITC Chief Executive Officer, Keletsositse Olebile said Botswana is a good turf for capital raising. “Despite all the hardship that Zimbabwe face, companies in Zimbabwe should utilise Botswana as their capital raising platform,” said Olebile.
With physical presence in Botswana, Malawi, Mozambique, Zambia, and Zimbabwe, Emeritus has plans to expand its footprint, as one of the reinsurance player. This year, two Zimbabwean technology companies have already been lured into Botswana – Tano Digital Technologies and Dandemutande, an internet service provider (ISP). Tano Digital Solutions has moved its headquarters from Zimbabwe after acquiring Altron businesses in Botswana, Mozambique and Kenya, last year, as part of its regional expansion plans.
“We have chosen this nation as our headquarters, a testament to our belief in the country’s political stability and its promising economic trajectory,” said Tano Digital Solutions’ Group Chief Executive Officer, Wallen Mangere. Meanwhile, Olebile has emphasized the strategic importance of companies such as Emeritus Reinsurance in Botswana’s economic landscape, commending the vision and commitment to innovation.
“Emeritus Reinsurance’s journey is emblematic of what Botswana stands for as an investment destination - a nation that encourages and supports forward-thinking businesses, fostering a culture of innovation and excellence,” said Olebile. Emeritus has been operating on the local market for the past 13 years, after entering the market through assistance of the International Financial Services Centre (IFSC) in 2011, three years after the enactment of the Reinsurance Act.
Currently BITC plays a critical role in driving economic growth through the attraction of foreign direct investment (FDI), domestic investment, and facilitation of expansions and further spearheads the growth of exports by promoting locally manufactured goods to regional and international markets.