The earmarked partnership between government of Botswana and potential BCL mine investor - Emirates Investment House (EIH) is beginning to bring dividends even before the two could sign the final agreement that will enable the transaction to be made.
The latest from United Arab Emirates (UAE) is that EIH together with UAE Chamber of Commerce in cooperation with the Ambassador of Botswana to UAE, Lesetedi Manyapedza are planning to sell the country to potential investors who have not been aware of what this country offers, by hosting a Botswana Week in Abu Dhabi during the second week of April.
The Sheiks have always made it crystal clear that their intention is not just to buy the BCL assets, but to also use Botswana as an African base to invest in several multibillion dollar-spinning projects. Speaking to BG News in an exclusive telephone interview, EIH chairman, Dr Abdulla Mangoosh reiterated his organisation’s famous tagline that dealing with UAE rulers and their businesses directly will help Botswana to transform from a mineral-backed to trade-backed economy.
He said EIH sees Botswana as central to the region and an opportunity to turn it into place of unique competence for industry, trade and agriculture. “That is why we signed MoU with government of Botswana to flow investment from UAE to Africa, through Botswana”.
He said EIH has shown its commitment to the MoU with Botswana by progressing discussions with the Minister of Mineral Resources, Green Technology and Energy Security, Advocate Sadique Kebonang to a signed agreement. Dr Mangoosh confirmed that due diligence is ongoing at BCL Group operations and will be completed over the next six weeks. “This due diligence is necessary to meet EIH internal requirements, but is just confirmatory; EIH will proceed with the investment,” he promised.
He said that in line with the MoU signed between EIH and government of Botswana, EIH is collaborating with the UAE Chamber of Commerce to organise a "Botswana Week in Abu Dhabi". This is being organised with cooperation of the Ambassador of Botswana to the UAE, Lesetedi Manyapedza. He said the opportunity is a “major shot in the arm for Botswana's investment attraction strategy”
Mangoosh revealed that the invite list will include but is not limited to all the key ministries for industries that are targeted and parastatals under their control as well as local business people. Dr Mangoosh said, “We will ensure that the event is big as the plan is to sell Botswana like never before in all key sectors such as mineral marketing - diamonds, food, tourism, beef industry and manufacturing. "
The idea, he said, is to cooperate with Botswana to link the country with UAE. The UAE is central to the world, and Botswana will be directly linked to the trade Hub. "We are hopeful, that we can contribute to the development of Botswana, to make a difference!"