Merges investment promotion-related institutions into a single agency

On February 6th, 2023, the Minister of Finance presented the Budget Statement for 2023-24, which included several significant changes. These changes are as follows:

• The merger of four State-owned enterprises, namely the Botswana Investment Trade Centre (the country's investment promotion agency), the Special Economic Zone Authority, the Botswana Tourism Organisation, and the Selibe-Phikwe Economic Diversification Unit, into a single investment promotion agency.
• Companies licensed by the Special Economic Zone (SEZ) are now eligible to apply for tax relief certificates, which will entitle them to a 5% corporate tax rate for ten years, and 10% thereafter.
• The Transfer Duty (Amendment) Act of 2022 now exempts SEZ license holders from paying transfer duty when acquiring immovable property for business purposes in Special Economic Zones.

• Type:

  • Promotion and facilitation (Investment facilitation , Investment incentives)

• Industry:

  • Not industry specific

• Sources:

  • Government Portal, Botswana: 2023 Budget Speech, 06 February 2023, https://www.finance.gov.bw/images/speeches/Minister/2023BudgetSpeechDocs/2023_Budget_Speech_06_February_2023.pdf, 06 Feb 2023
  • Lexology, BOTSWANA: 2023-24 Budget Statement presented, https://www.lexology.com/library/detail.aspx?g=31f9877c-03dc-4b6f-a2ff-3e3441b19827, 04 Apr 2023