Botswana: Mogae Assures Investors of Safety

Washington, D.C. — President Festus Mogae had the audience captivated and applauding at his witty and humorous address at a presentation hosted by the Centre For Global Development. Mogae called on investors to consider Botswana as a destination to help diversify the economy.

He assured them that their money would be safe as Botswana was a stable democracy with an open economy and a low tax regime. He said institutions such as the World Bank, IMF and The Davos group rate Botswana highly, which makes it ideal for investment. The President also emphasised that Botswana used its diamonds for development and was keen to protect the industry. During a question-and-answer session moderated by the centres President, Nancy Birdsall, Mogae explained how the mutual beneficial relationship with De Beers materialised and why it has worked for so long. He said both De Beers and Botswana were heavily dependent on diamonds for their being, thus an agreement had to be reached that would please both parties.

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