Botswana President Mokgweetsi Masisi has attacked the toxic business climate in Zimbabwe, urging investors not to throw their money down a pithole where it can be lost forever.
Speaking at a town hall meeting with young entrepreneurs alongside Econet founder, Masiyiwa, Masisi said unlike an unnamed African country(Zimbabwe) where payment to creditors and repatriation of profits to foreign countries in the currencies of their choice was impossible, Botswana had a stable economy and enjoyed ease of doing business.
“We are run, not just conveniently, but very well and we work. We are open and this stability along with our addiction to the rule of law makes us attractive for spring boarding from Botswana,” Masisi said.
“I will not name the other country, would you rather have your business headquarters in country X somewhere else in Africa or in Botswana? In terms of assuring yourself that what you put in the bank is yours and will be there. In terms of assuring yourself and your creditors that you will be able to pay them in whatever currency they need to be paid in, so these advantages should be utilised to the fullest.”
Although the Botswana leader did not mention any country by name, the advantages, he said his country had over this unnamed country are challenges Zimbabwe has been battling under President Mnangagwa, with such as investors failing to repatriate their profits due to a chronic shortage of foreign currency.
President Mnangagwa’s government is desperate for investments but his Zimbabwe is open for business gospel appears to be an annoying scam to authorities in Gaborone.
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