Afreximbank announces US $1.5 Billion Financing programme to Botswana

Original Story Published by: Press Release, www.afreximbank.com
Photo Source: Courtesy of Afreximbank

African Export-Import Bank (Afreximbank) has announced a historic lending arrangement to Botswana, in the form of a three-year Country Programme of up to US$1.5 billion(on a net basis), with funding for up to seven years for eligible  transactions.

The financing package has been designed to support key strategic projects underpinning Botswana’s Economic Transformation and Diversification Plan – with funding allocated to road, rail, Digital Broadcast/ Creative Industry, Manufacturing, Local Content Promotion, Mining , export agriculture  and industrial infrastructure. Afreximbank’s historic commitment to Botswana brings to conclusion a comprehensive process of consultation and analysis which saw close collaboration between Afreximbank and the President of the Republic of Botswana, His Excellency, Dr. Eric Masisi, Ministers of Finance, Trade and Industry, the Governor of Bank of Botswana, Botswana Investment and Trad Corporation( BITC)  Special Economic Zone Authority, among others.

Afreximbank’s lending commitment will support Botswana’s National Development Plan, which sets out the country’s aspiration to become an export-led and high-income economy by 2036, driven by an annual growth rate of 10%, and industrial contribution to GDP of 45%, as well as  significant innovation capacity with 4.5% of the national budget directed towards research and development.

The Bank’s contribution to this ambitious national effort was announced by Professor Benedict Oramah, President and Chairman of the Board of Afreximbank, who was warmly received by His Excellency the President of the Republic of Botswana, Dr Mokgweetsi Eric Keabetswe Masisi, at the official opening of the Global Expo Botswana 2022.

Managed by the government and attracting exhibitors and guests from across the region and the globe, the event constitutes Botswana’s foremost international multi-sectoral business-to-business exhibition.

Speaking at the Global Expo, His Excellency the President of the Republic of Botswana, Dr Mokgweetsi Eric Keabetswe Masisi, reaffirmed Botswana’s commitment to working to ensure that the country provides a conducive environment for trade and business to take place with ease in the country. He said:

“I wish at this point to assure you that the Government of Botswana remains committed to improving and creating a conducive business environment to enable the private sector to thrive. We have set up a platform through our Investment Promotion Agency, the Botswana Investment and Trade Centre (BITC), to provide those interested in investing in Botswana with in-depth information and to facilitate companies to seamlessly set up and operate in the country through the Botswana one-stop service centre (BOSC).”