Botswana is a landlocked country in southern Africa, which gained freedom from the Commonwealth in 1966. It is surrounded by Zimbabwe, South Africa, Namibia and Zambia. Botswana is one of the politically stable African countries that is going through a fast pace of economic growth. Rated as one of the most successful economies, its principal industries are diamonds, manufacturing and tourism.
China has been consistently investing in African nations, spurring their growth and development, providing aid and employment with no strings attached. Botswana is also one of the beneficiary countries. China now ascertains the economic and political stability of a country before investing in it, and has recently been seen to withdraw from nations considered risky. Botswana, however, meets the Chinese prerequisites, and has therefore been selected by two Chinese firms for building a textile industrial park. They have invested $52 million in this venture. Once completed the project should bring in foreign revenue worth $280 million. The two companies are Daheng Holdings Group and Touch International Holdings Group.
The media claims that the groundbreaking ceremony has already been completed and the first phase of the project has begun, namely the Phakalane Industrial Park. The focus here will be clothing and textile products. The first step for this project had been taken in 2006 at the China-Africa Summit held in Beijing. The companies started their first investments in Botswana in 1998 and had been receiving enthusiastic support from the local government.
The Textile Park is likely to see participation from 66 companies from all over the world and generate employment for at least 8000 people. The pace of the project would be maintained despite the worldwide economic downturn. The Daheng Group also launched its charity foundation at the same time, which would help fund a more dignified life to the disadvantaged in the country. The group has started the charity with an initial donation of P500000 and in the next ten years would receive P10 million. This move reinforces the corporate social responsibility of the group. A major agricultural project for tapping river waters for irrigation is under consideration in Pandamatenga, expansion of the Morupule Colliery as well as the Mmamabale power project.
Source : China Africa
