Business Profile
Economy
As a key foreign exchange earner, livestock farming is the most important part of Botswana’s agricultural sector. In addition, there is substantial subsistence agriculture, cultivating maize, sorghum and millet. The country’s other main export industry is mining, extracting diamonds (of which Botswana is the world’s largest producer by value), nickel, gold, cobalt, copper, salt and coal (the principal source of energy) and soda ash. The small manufacturing sector is largely devoted to the production of food products and textiles. Botswana is economically closely connected to South Africa and is a member of the Southern African Customs Union (SACU). It also hosts the Southern African Development Conference, which is the principal mechanism for economic co-operation.
The bulk of the country’s imports come from within SACU, other African countries and Korea. Europe is the key export market. Prudent management and the successful development of new mineral resources have afforded Botswana healthy economic growth of around 5 per cent since the late 1990s. But the vulnerability of the agricultural sector to bad weather and commodity price fluctuations has led the government to seek to develop a service sector, with tourism and financial services being the best prospects. However, the HIV/AIDS epidemic, which is extremely serious in Botswana and mainly afflicts the productive, young and middle-aged population, is starting to have a negative effect on the country’s economy.
Business
Lightweight or tropical suits should be worn. Office hours: Mon-Fri 0800-1700 April-October; 0730-1630 October-April. Government office hours: 0730-1630 all year round.
Commercial Information
The following organisation can also offer advice: Botswana Export Development & Investment Authority (BEDIA), Plot 28, Matsitama Road, The Main Mall, Gaborone (tel: 318 1931; fax: 318 1941; e-mail: bedia@bedia.bw; website: www.bedia.co.bw).
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