* SPEDU has attracted about P2 billion worth of investments * P1.2 billion from domestic investors, P800 million from Foreign Direct Investment
The Government has maintained that the Selibe Phikwe Economic Development Unit (SPEDU) was never intended to be designated as a Special Economic Zone (SEZ).
This decision stems from SPEDU's status as a company limited by guarantee, established in 2012 under the Companies Act (CAP 42:01). As a regional economic development entity wholly owned by the government, SPEDU's primary mandate is the economic revitalisation of the 52 settlements within its jurisdiction.
According to Beauty Manake, Assistant Minister of Trade, SPEDU's incorporation under the Companies Act precludes it from being classified as a SEZ in alignment with the Special Economic Zones Policy of 2011 and the SEZ Act No. 13 of 2015.
The SEZ Policy defines Botswana's SEZs as geographically distinct areas with their own administrative SEZ Authority, fostering an investor-friendly environment.
Manake clarified that the Ministry of Trade has already earmarked a 1 240-hectare tract of land in Selebi Phikwe for a base metals beneficiation SEZ and is actively acquiring land for the Tuli Block horticulture production and beneficiation SEZ. These designated SEZs, along with SPEDU, are envisaged as growth poles within the broader SPEDU Region, established under the National Spatial Plan.
Regarding incentives, Manake outlined approved benefits for investors in the SPEDU Region, including fiscal incentives, a 30 percent direct Government off-take on procurement, a 50-year land lease provision, and the establishment of a One Stop Service Centre.
These incentives, she asserted, have attracted approximately P2 billion in investments, with P1.2 billion from domestic investors and P800 million from Foreign Direct Investment. Out of 88 companies at various stages of development facilitated by SPEDU, 56 are operational, creating 3,197 jobs.
Manake emphasised ongoing engagement with stakeholders to refine incentives, acknowledging the need for periodic reviews. She highlighted the importance of crafting incentives tailored to industry needs and addressing challenges such as non-implementation of certain incentives by relevant stakeholders.
SPEDU, as a regional economic diversification agency, plays a pivotal role in transforming the greater SPEDU area into a dynamic economic region, with its initiatives supported by a comprehensive set of incentives aimed at attracting and sustaining businesses.
Manake was responding to a question asked by Selibe Phikwe West legislator, Dithapelo Keorapetse, who wanted to know whether SPEDU is still considered, as a matter of Policy, a special economic zone.
This decision stems from SPEDU's status as a company limited by guarantee, established in 2012 under the Companies Act (CAP 42:01). As a regional economic development entity wholly owned by the government, SPEDU's primary mandate is the economic revitalisation of the 52 settlements within its jurisdiction.
According to Beauty Manake, Assistant Minister of Trade, SPEDU's incorporation under the Companies Act precludes it from being classified as a SEZ in alignment with the Special Economic Zones Policy of 2011 and the SEZ Act No. 13 of 2015.
The SEZ Policy defines Botswana's SEZs as geographically distinct areas with their own administrative SEZ Authority, fostering an investor-friendly environment.
Manake clarified that the Ministry of Trade has already earmarked a 1 240-hectare tract of land in Selebi Phikwe for a base metals beneficiation SEZ and is actively acquiring land for the Tuli Block horticulture production and beneficiation SEZ. These designated SEZs, along with SPEDU, are envisaged as growth poles within the broader SPEDU Region, established under the National Spatial Plan.
Regarding incentives, Manake outlined approved benefits for investors in the SPEDU Region, including fiscal incentives, a 30 percent direct Government off-take on procurement, a 50-year land lease provision, and the establishment of a One Stop Service Centre.
These incentives, she asserted, have attracted approximately P2 billion in investments, with P1.2 billion from domestic investors and P800 million from Foreign Direct Investment. Out of 88 companies at various stages of development facilitated by SPEDU, 56 are operational, creating 3,197 jobs.
Manake emphasised ongoing engagement with stakeholders to refine incentives, acknowledging the need for periodic reviews. She highlighted the importance of crafting incentives tailored to industry needs and addressing challenges such as non-implementation of certain incentives by relevant stakeholders.
SPEDU, as a regional economic diversification agency, plays a pivotal role in transforming the greater SPEDU area into a dynamic economic region, with its initiatives supported by a comprehensive set of incentives aimed at attracting and sustaining businesses.
Manake was responding to a question asked by Selibe Phikwe West legislator, Dithapelo Keorapetse, who wanted to know whether SPEDU is still considered, as a matter of Policy, a special economic zone.
