Healy Consultants on Botswana's economic diversification

GABORONE, Botswana - March 28, 2016 - PRLog -- Botswana is working towards diversifying its economy with the assistance of the Botswana International University of Science and Technology (BIUST). The institution will help diversify the economy and create sustainable employment. BIUST intends to transform the economy from one heavily reliant on mineral resources to a knowledge-intensive system through the competent individuals.

Dr. Racious Moatshe, acting head of the centre for business management and entrepreneurship at BIUST said the institution understands that it has a role to play in the country's economic diversification through the provision of highly skilled scientists that the economy needs to grow entrepreneurship and research.

An economic stimulus package released in December 2015, along with a recovery in the global economy and diversification of the Botswana economy will help lift the world's biggest producer of diamonds, grow in 2016. The role of entrepreneurship in the economy is to produce high quality goods and services through improved innovation and technology so as to promote economic growth.

Currently, diamonds account for around 75% of Botswana's foreign exchange earnings and 30% of GDP, but gem demand has slowed since 2015 as middlemen who buy rough stones struggle with a stronger dollar and liquidity problems. The International Monetary Fund (IMF) recently said Botswana's economy is projected to grow by 3.7% this year after an estimated contraction of 0.3% in 2015.GDP growth is estimated to have turned slightly negative in 2015 owing to a decline in the global demand for diamonds and copper. By diversifying the economy, Botswana intends to attract more foreign investment in various sectors to promote growth.

About Healy Consultants

For over a decade, the incorporation experts at Healy Consultants Pte Ltd., with their branch in Botswana, have been assisting investors worldwide to set up the optimum corporate structure for doing business in the country. The services offered include company registration, banking solutions, accounting and tax and legal services and corporate support services.

Contact us

To inquire more about Botswana company setup options and schedule a conference call, email us at email@healyconsultants or call us on +65 6735 0120.