Botswana: Types of Company
This page was last updated on 26 Apr 2019.
The Companies Act 2003, brought into force on 3 July 2007, requires all entities to be classified as a private company, exempt private company, public company or close company (see the relevant entries). In addition, it imposes stricter obligations on corporate governance.
The Companies Act (Amendment of Schedules) Order 2006 allows IFSC-accredited companies to denominate their capital in major convertible currencies, namely the US dollar, the euro and the pound sterling.
The registrar of companies and intellectual property (ROCIP), part of the Ministry of Trade and Industry, is responsible for company incorporation, the registration of business names and the protection of intellectual property. The Department has four functions: companies, business names, industrial property administration and copyright.
The Licensing and Protection Division of the Ministry issues manufacturing licences in accordance with the provision of the Industrial Development Act and its regulations. The division acts as secretariat to the National Industrial Licensing Authority (NILA), which is appointed by the Minister of Commerce and Industry. NILA comprises of both private sector and government representatives.
The Licensing and Protection Division is also responsible for monitoring and inspections of factories, assisting the division to determine if licences are used for their intended purpose and also undertaking collection of data for development and update of company profiles.
In the following sections are brief descriptions of the company forms and their requirements under the Companies Act 2003.