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News Archives
23 November, 2006
Botswana gets a high credit rating
GABORONE - Botswana has yet again received a favorable sovereign credit rating from Standard and Poor’s (S & P) with A/A-1 foreign currency A+/ aA-1 local currency ratings. [more...]
09 October 2006
African Banking Corporation (ABC) has secured a capital injection of US$20 million to boost its already expanding regional business
Soon after releasing strong half year results, African Banking Corporation (ABC) has secured a capital injection of US$20 million to boost its already expanding regional business. [more...]
14 September 2006
IMF hails economic growth in Botswana
Botswana has avoided the curse of most resource-abundant economies and maintained growth consistent with its resources, the International Monetary Fund (IMF) said on Tuesday. [more...]
12 September 2006
Hub to help attract FDI
GABORONE - Botswana continues to invest in engineering, science and technology education towards becoming an innovation hub. [more...]
27 July 2006
Moody’s Investors Service Releases Botswana’s 2006 Credit Rating Report
Moody’s Investors Service have released their 2006 credit rating report on Botswana. The sovereign credit ratings that Moody’s assigned to Botswana since 2001 for government debt (A2 for long term foreign currency debt, Prime-1 (P-1) for short term foreign currency debt, and A1 for domestic currency debt) remain unchanged, as does the “stable” outlook. [more...]
05 July , 2006
Amendments To The Income Tax And Vat Acts
The Bills to amend the Income Tax and Value Added Tax Acts were published in the Government Gazette on 27th May 2006. The Bills have been passed by Parliament and are to take effect from 1st July 2006. [more...]
21 June , 2006
Further Liberalisation of the Telecommunications Sector
The Government, through this statement, wishes to announce its decision to further liberalise the telecommunications industry in Botswana. [more...]
10 May , 2006
Forum Discusses Final Plans to Establish Pan African Commodities Exchange in Botswana
The Africa Union, United Nations Conference on Trade and Development, Pan African Commodities Platform and Botswana International Financial Services Centre with the support from the Ministry of Finance and Development Planning, have just concluded discussions on the formation of an African-owned commodities exchange to stimulate the economies of African countries. [more...]
06 April , 2006
Taking the Letshego micro-lending model to Africa through Botswana IFSC
Micro Provident Botswana Limited has been converted into a Botswana IFSC accredited company in order to enable it to expand its business enterprise to other African countries. The accredited holding company under the Botswana IFSC will roll out the Micro Provident Botswana business model in other parts of Africa. [more...]
29 March, 2006
Botswana IFSC Internship Programme Continues to Open Doors of Opportunity For Batswana Graduates.
A DOZEN young graduates have been given a head start in their careers thanks to an initiative by Botswana International Financial Services Centre (BIFSC)... [more...]
13 March, 2006
Imara Deals Creates Direct Presence in Zimbabwe
Imara Holdings, the Botswana-registered financial services group, announced today 16 February that it has taken an effective 32% equity stake in its Zimbabwe franchise operation, Imara Capital Zimbabwe (Private) Limited... [more...]
08 March, 2006
Imara Shares take OTC Route to Market
SHARES in Imara Holdings Ltd (IHL), the regional financial services Group incorporated in Botswana, were this week (last week in February) introduced to Gaborone’s over-the-counter (OTC) share market. Some 4.73 million shares are in issue. The OTC introduction is sponsored by Stockbrokers Botswana Ltd... [more...]
04 February, 2006
Botswana ranked as Africa’s “most globalised nation”
The Carnegie Endowment for International Peace, through its publication Foreign Policy magazine, has released its fourth annual “Globalisation Index” at a ceremony in Washington D.C. This year Botswana was once more ranked number one (1) in Africa, while moving up three spots to achieve a world ranking of thirty (30), just below Japan (29)... [more...]
11 January, 2006
Botswana joins global top thirty in Economic Freedom
THE latest, 2006, "Index of Economic Freedom" has listed Botswana among the world's top thirty economies. With an improved overall score of 2.29, Botswana is now ranked alongside Norway and Portugal and ahead of 131 other countries [including 20 European states] that were examined in the report... [more...]
14 December, 2005
Botswana Could be an Ideal Location for Offshore Investors Looking for New Opportunities
A new report by independent market analyst Datamonitor says Botswana is making the right move to develop a strong contact center offshoring sector... [more...]
01 December, 2005
Botswana is emerging as an attractive location
The latest offshoring hot spot offers a stable, democratic government; a highly educated and content populace; English as its official language; and generous subsidies for investor companies... [more...]
25 November, 2005
Botswanas credit ratings remain unchanged
GABORONE - Moodys investor credit rating report on Botswana since 2001 remains unchanged for 2005 and predicts stable out look... [more...]
22 November, 2005
Moody’s Investors Service Releases Botswana’s 2005 Credit Rating Report
Moody’s Investors Service has today released its 2005 credit rating report on Botswana. The sovereign credit ratings that Moody’s assigned to Botswana since 2001 - A2 for long term foreign currency debt, Prime-1 (P-1) for short term foreign currency debt, and A1 for domestic currency debt-remain unchanged for 2005, as does the “stable” outlook... [more...]
24 November, 2005
Company moves to promote safety in Botswana
Virtual Wave has unveiled its campaign to promote personal safety and security in Botswana... [more...]
10 November, 2005
Botswana IFSC Short-listed for the 2005 Africa Investor Awards
Botswana IFSC has been short-listed in the Smart Regulation category of the 2005 Africa Investor Awards... [more...]
20 October, 2005
Botswana least corrupt in the Africa
GABORONE - Transparency International has once more rated Botswana as among the worlds least corrupt countries, with an overall score and ranking... [more...]
17 October, 2005
Standard and Poor’s Releases Botswana’s 2005 Sovereign Credit Rating
Standard & Poor’s (S & P) have released Botswana’s 2005 sovereign credit rating; they have again affirmed the A/A-1 foreign currency and A+/A-1 local currency sovereign credit ratings for Botswana. [more..]
12 October, 2005
EASSy to link Africa with rest of the world
The eastern Africa submarine system (EASSy) will improve the lives of people in the East African region, as it will give them access to a lot of information and resources much easier than in the past... [more...]
September 14, 2005
Millennium Goals
NEW YORK, Sept. 14 (BOPA): President Festus Mogae has called on the international community to continue to assist countries such as Botswana, which are deemed to have attained middle income status... [more...]
14 September, 2005
Botswana once again ranked as Africa’s leader in Economic Freedom
The 2005 Economic Freedom of the World report and index was released last week, once more ranking Botswana No.1 in Africa. It tied with Japan and Spain in the overall global ranking of 127 nations. [more...]
September 13, 2005
Mogae at NYSE
NEW YORK, Sept. 13 (BOPA): Curious New Yorkers saw something different outside the New York Stock Exchange (NYSE) building on Tuesday... [more...]
June 21, 2005
Botswana Graduating from Aid
Botswana is a unique case study of aid dependence in Africa. It has gone from being one of the poorest, most aid dependent countries to a middle-income country no longer in need of significant amounts of external assistance... [more...]
June 8, 2005
Prince Invests in Letshego
GABORONE - Saudi Arabia's Prince Alwaleed Abdulaziz Alsaud says he intends to strengthen diplomatic ties between his country and Botswana by investing more in the latter. [more..]
April 18, 2005
House passes bill to regulate offshore insurance
PARLIAMENT - Parliament has passed the International Insurance Bill that seeks to regulate offshore insurance and related services, to be offered in the Botswana International Financial Services Centre (IFSC). [more..]
April 18, 2005
Protocols to remove trade obstacles
PARLIAMENT - Double Taxation Avoidance Agreements are an established feature of the international fiscal scene and their primary function is to remove fiscal obstacles to bilateral trade and investment. [more..]
February 28, 2005
Investment prospects bright
Fortune has been smiling on Botswana lately. And the country’s leading ‘Three Musketeers’ in investment promotion, President Festus Mogae, Alan Boshwaen and Mmasekgoa Masire- Mwamba would be excused if they are found wearing broad smiles. [more..]
February 8, 2005
Gaolathe calls for income tax review
PARLIAMENT - The Minister of Finance and Development Planning, Baledzi Gaolathe, says it has become necessary to consolidate all previous minor amendments to the Income Tax law lest they create uncertainties and inconsistencies. [more..]
February 8, 2005
Economy registers strong positive growth
GABORONE - The national economy registered a strong positive growth rate of 5.7 per cent during the 2003/2004 year, although at a slower pace than during the previous year. [more..]
February 7, 2005
IFSC to make Botswana regional financial hub
KASANE - Trade and Industry minister Neo Moroka says the government established the International Financial Services Centre (IFSC) in 2001 with the aim of making Botswana a regional financial hub. [more..]
January 28, 2005
Botswana still "Africa's freest economy"
2005 Global "Index of Economic Freedom" praises local transparency and
investment climate. [more..]
January 27, 2005
Enterprise Banking Group is Looking to Invest US$25m to Help SMEs in Africa
Enterprise Banking Group (Pty) Limited (“EBG”), a regional banking group focused on banks that service small and medium sized enterprises (SMEs), is pleased to announce that it has opened its holding company office in Gaborone, under the Botswana International Financial Services Centre (IFSC). [more..]
December 6, 2004
Virtual Wave Acceleration Team Arrives in Botswana This Week
Grayling Wireless USA Inc. ("GRYW") is taking this opportunity to provide a status report on the activities of its subsidiary, Virtual Wave Botswana Pty (“VWB”). As reported previously, the VWB business was officially launched at ceremonies that were held in Gaborone, Botswana on Thursday, October 7, 2004. [more..]
December 2004
Moodys Investors Service Releases Botswana’s 2004 Credit Rating Report
Moody’s Investors Service has released their 2004 credit rating report on Botswana. The sovereign credit ratings that Moody’s assigned to Botswana in 2001, A2 for long term foreign currency debt, Prime-1 (P-1) for short term foreign currency debt, and A1 for domestic currency debt, remain unchanged, as does the “stable” outlook. [more..]
December 2004
Standard and Poor’s Releases Botswana’s 2004 Sovereign Credit Rating
Standard and Poor’s (S & P) have released Botswana’s 2004 sovereign credit rating; they have again affirmed its A/A-1 foreign currency and A+/A-1 local currency sovereign credit ratings for Botswana. [more..]
October 28, 2004
IFSC companies could assist in BSE expansion
Chief executive officer (CEO) of International Financial Services Centre (IFSC), Alan Boshwaen said his organisation is well positioned to play a critical role in assisting the Botswana Stock Exchange (BSE) to grow. He said a number of IFSC accredited companies are increasingly showing interest in listing in the local bourse. Already an IFSC accredited company, African Banking Corporation (ABC) has listed. [more..]
October 25, 2004
10 young Batswana get internships
Botswana International Financial Services Centre (IFSC) has embarked on a scheme to groom young Batswana in the financial and Information Communication Technology fields. [more..]
October 19, 2004
Announcement of the Botswana IFSC Internship Programme Recipients
Following the inaugural Botswana IFSC Career Fair, which was held on 18th September 2004 at Gaborone International Convention Centre, 10 successful recipients of the internship programme will be introduced to their host companies at a ceremony on Thursday 21st October 2004 at Falcon Crest Suites commencing 1600 hours. [more..]
September 22, 2004
Government working on regulating financial service providers
Finance and Development Planning Minister Baledzi Gaolathe told delegates at the country’s first Retirement Funds Conference yesterday that the government is working on the process of revamping the regulation of financial service providers. Gaolathe said that the ‘project’ to regulate, entails devising a way of establishing a financial service authority, which will be responsible for regulating financial providers in the country in order to provide and foster consumer protection by ensuring honesty amongst them. [more..]
September 21, 2004
IFSC’s outsourcing concept could create employment
Botswana International Financial Services Centre (IFSC) chief executive officer Alan Boshwaen, has said that the Centre’s concept of global outsourcing has the capability of creating more than 15,000 jobs within five years for Batswana holding Form Five to post graduate level qualifications. [more..]
September 20, 2004
IFSC "chips in" to sharpen financial skills
A recent report by Accenture has confirmed that by capfinturing one percent of the global market for outsourced jobs in the financial services sector, fifteen-thousand jobs could be created in the next five years in Botswana, says Alan Boshwaen. [more..]
September 08, 2004
Andisa to step beyond Botswana into Africa
DEBT and capital markets group Andisa Capital said this week it was intensifying efforts to expand into other African countries. [more..]
July 28, 2004
Guiding a fragile undertaking
"At first there was scepticism in some quarters about whether the International Financial Services Centre would be viable,” says Alan Boshwaen. “Those voices are now significantly in the minority and we have almost drowned them". [more..]
July 22, 2004
Botswana Still Important Finance Centre Despite Competition
Although various countries are emerging as offshore centres and are as a result crowding the industry, Botswana, with all its incentives is still uniquely placed as a financial centre, particularly from the African point of view. [more..]
July 22, 2004
Botswana’s tax carrot
Botswana aims to diversify its economy with tax advantages to international companies but stresses that it is not a tax haven in the traditional sense of the word. [more..]
July 22, 2004
Botswana Courts SA Firms
Botswana is keen to cash in on an agreement, which determines that SA companies are not taxed on earnings of subsidiaries in Botswana, even though the tax rate of Botswana is lower. [more..]
June 25, 2004
Front Runners
Just two countries stand out of their consistently strong long- run economic performance. Botswana and Mauritius succeeded in achieving real per capital GDP growth of 5.3 % and 3.7% respectively between 1960 and 2000 compared with an average of 0.8% a year in sub-Sahara Africa, 2.3% for all developing countries over the same period. [more..]
June 02, 2004
The Banker
Botswana and Mauritius have bucked the African trend and achieved long-term strong economic performance. Institution building plays a part. [more..]
November 25, 2003
Invitation for Expressions of Interest
Expressions of Interest are invited from suitably qualified consultants for the above mentioned assignment which is sponsored by Botswana International Financial Services Centre (IFSC).The scope of the services to be provided include: a) a diagnostic study of the Business Process Outsourcing Industry inclusive of back office process outsourcing and call centres etc. [more..]
November 19, 2003
Botswana Gains Top Rating From Agencies
MOODY's Investor Services and Standard & Poor's have awarded Botswana the highest sovereign credit rating in Africa, but warned that the fight against HIV/AIDS needs more money. [more..]
September 11, 2003
Botswana Attracts SA Companies
A host of SA companies are moving administration functions of their African operations to Botswana's International Financial Services Centre (IFSC). [more..]
August 18, 2003
SA, Botswana sign tax treaty
SA and Botswana have signed a double taxation treaty big banks and insurance companies to Botswana. [more..]
August 14, 2003
New tax pact to avoid double taxation
Botswana-based companies doing part of their businesses in South Africa and vice versa have cause to celebrate following the signing of the double taxation avoidance agreement by the two countries. [more..]
June 03, 2003
Botswana IFSC Board of Directors
Botswana IFSC is pleased to announce its recently appointed Board of Directors to its valued stakeholders [more..]
November 14, 2002
SRTMS to Open Affiliate in Gaborone Financial Centre
[Johannesburg, 14 November 2002] - Standard Risk and Treasury Management Services (SRTMS), the treasury services firm that is a wholly-owned subsidiary of the Standard Bank Group, is to set up an affiliate in Botswana to service corporates in the SADC region and elsewhere in Africa [more..]
September 13, 2002
Botswana Sustains SP Ratings
BOTSWANA's sovereign credit rating has remained constant since last year, according to the current report from Standard and Poor's (SP) Ratings Services. The credit rating experts indicate that Botswana has maintained the same standards for long term foreign currency debt, long and short-term local currency debt and short term foreign currency debt [more..]
July 31, 2002
Visit by Lord Mayor to Botswana
"...If you can provide value, alongside a benign tax regime, coupled with safety, probity and trust, you will be able to develop such a centre."
Follow the link Speeches to download the full speech by Rt. Hon. The Lord Mayor Alderman Michael Oliver
June 12, 2002
LATEST APPROVED PROJECTS
KINGDOM FINANCIAL HOLDINGS (BOTSWANA) LIMITED
Kingdom Financial Holdings is a Zimbabwean based diversified financial services group listed on the Zimbabwean Stock Exchange. It has established a representative office in the IFSC, which provides non-banking services to its clients in the region.
RPC DATA INTERNATIONAL (PTY) LTD
RPC Data International is a subsidiary of RPC Data Limited, an IT services company listed on the Botswana Stock Exchange. They provide from the IFSC premium software related products and consulting services to international customers in the financial services sector.
The IFSC is also at an advanced stage of negotiation with a large South African bank that is very keen on setting up two operations in the Botswana IFSC to service it's markets in the Southern African region.