Botswana adds intelligence vetting for special economic zone investors
Investors seeking licences in Botswana's Special Economic Zones will now be assessed by the Directorate of Intelligence and Security before approval.
SEZA Botswana has brought the Directorate of Intelligence and Security (DIS) into its investor vetting process, adding intelligence-based security assessments to the checks that prospective investors already undergo in the country's Special Economic Zones. The two institutions signed a Memorandum of Understanding (MoU) on Wednesday.
The arrangement is designed to identify financial crime, integrity, reputational and national security risks before investors gain a foothold in the zones. SEZA Botswana Acting Chief Executive Officer Goabaone Masike said cooperation with the DIS would strengthen due diligence and uncover risks that may not be visible from information submitted by applicants.
Under the deal, the DIS will provide an added security assessment where SEZA's own verification capabilities are not sufficient. Masike said investors and entities operating within the SEZ framework may also be subjected to scrutiny during the course of their operations.