Wednesday, September 23, 2020

Stanbic Bank sells Botswana

Stanbic Bank recently invited a group of investors from Russia, USA, UK and South Africa to market and promote Botswana and its investment opportunities. This group comprised of senior fund managers and mining magnates. This conference was preceding the Group sponsored event held in Cape Town for Emerging Markets.

Stanbic Bank Botswana seized the opportunity presented by this visit by further impressing upon the investors to visit Botswana and see first hand available opportunities.

The Managing Director of Stanbic Bank, Dennis Kennedy, made a well-rounded summary of latest developments and challenges facing Botswana. Invited guests included the Minister of Finance and Development Planning, Honourable Baledzi Gaolathe, who highlighted the competence and willingness of Botswana in welcoming foreign direct investment. The visitors had concerns from the visiting investors on tax issues, especially where double taxation agreements are not in place. They said this could lead to reduced earnings potential when they receive the funds in their respective countries.

The representatives from Bank of Botswana Messrs Andrew Motsomi and Samuel McConnell, the Director of Research Department and Senior Monetary Operations Advisor respectively gave an overview of the fiscal and legislative policy guidelines. They also touched on the aspects of the Monetary Policy, which were to the delight, and appreciation of the investors.

BEDIA was represented by its CEO, Mrs Mmasekgoa Masire-Mwamba who reiterated the opportunities and challenges facing Botswana as an investment destination. She also briefed the investors about the just to be launched “Brand Botswana Project “, a process of appreciating Botswana’s home grown features that sets it apart from other countries whilst encouraging innovation. Rob Walker and Boikanyo Kgosidintsi represented Stanbic Bank Botswana Investment Banking and gave a presentation on the capabilities of Stanbic Bank as an investment partner of choice. They also discussed available products and their successes and the level of participation in the local market by foreign investors.

Stanbic Bank Executive Director, Tasha Ferreira closed the session by thanking the investors for bending their original time schedules to visit Botswana. He urged the investors to consider setting up offices and doing business in Botswana. He also highlighted the importance of continuous communication with strategic partners and not to paint the region with one big bad brush.
The proceedings were hosted and directed by the Treasurer of Stanbic Bank Sentsho Tselayakgosi.

RELATED STORIES

Read this week's paper

The Telegraph September 23

Digital edition of The Telegraph, September 23, 2020.