1. Bifm Capital Channelling International Investment Funds in Africa

2. Table of Contents Context of the Botswana Africa Mining Fund Why domicile funds in Botswana? Why manage and administer funds in Botswana? Conclusion

3. Botswana Africa Mining Fund First mining fund for Botswana Marketed to Professional Investors Only CIU and Regulated by BoB Registered in the IFSC

4. Why Domicile Funds in Botswana? Enabling Environment – Legal and Regulatory Framework Developed legal system Immigration of foreign nationals Laws are consistent Rights can be defended and disputes settled CIU legislation in place Regulation by the BoB

5. Why Domicile Funds in Botswana? (Cont..) – Tax Policies Government has set up the BIFSC Tax advantages if funds are IFSC designated – e.g. exemption from withholding tax on dividends paid to non-residents Promotion of the fund - IFSC – Governance and Anti-Corruption Accountable Transparent Efficient and Effective Responsive Rule of law

6. Why Domicile Funds in Botswana? (Cont..) – Accessible government Ready to do business Dialogue with the private sector – No Exchange Controls Improve efficiency of the economy Higher increased living standards Reduce unnecessary government intervention We need to take advantage of this competitive edge

7. Fund Management Pros – Cost advantage compared to Europe – Pan African Fund – close to markets – Information is accessible – Access to capital

8. Fund Management Cons – Lack of experienced investment professionals – Long distances to developed markets

9. Fund Administration – Back office activities – Valuations / Pricing – Fund Accounting – Reconciliations

10. Pros – High levels of education – Reasonably well developed IT Infrastructure/Telecoms – Same time zone as Europe – English speaking – High auditing standards Fund Administration

11. Cons – Lack of technical skills – Lack of experience – Limited back office activity in Botswana – Band width challenges – High labour costs

12. Conclusion Speed Government policies

13. Thank you Bifm Capital Tel: +267 395 1564 Contacts