Botswana has signed a MOU with Arton Capital, looking to establish a citizenship by investment scheme in the country.
According to Arton Capital, with this program Botswana aims to attract foreign capital and international talent to sectors such as tourism, renewable energy, mining, and financial services, as part of efforts to diversify the economy.
The initiative also comes a measure to safeguard the country’s economy and shift its dependence on mining.
Botswana has a thriving, albeit smaller tourism sector. This includes safari and nature-based tourism.
Much of the country’s tourism offerings are geared toward high spend international tourists.
BOTSWANA CITIZENSHIP BY INVESTMENT
Botswana’s government and Arton Capital have allegedly already started working on the citizenship program. However, no launch date has been announced.
The announcement of the programme follows a private investor event that took place at New York’s Baccarat Hotel during the recent UN General Assembly.
Botswana’s president, Duma Boko, believes the initiative will secure the country’s long-term financial future by unlocking opportunities for business owners and local people.
According to BotswanaCitizenship.com, which Arton Capital lists as the new hub for registering interest for Botswana citizenship, individuals can qualify for the scheme by contributing between US$ 75,000 and US$ 90,000.
That said, details on processing timelines, dependent qualification criteria, or residency requirements have yet to be finalised.
AN ATTRACTIVE INVESTMENT
The Southern African country could indeed become the third country in Africa with a citizenship by investment program to debut this year.
Other countries offering this include Sierra Leone and São Tomé and Príncipe.
Botswana’s passport ranks fourth strongest on the continent but 61st globally, with visa-free access to 84 destinations.
The country currently holds Africa’s strongest credit rating according to rating agencies, Moody’s and Standard & Poor.
Arton Capital’s founder, Armand Arton, said that “Botswana is standing at the edge of a bold new dawn” and expects the program to help establish the country as “a new regional hub for cross-industry innovation.”
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