US-based MCC Worldwide has signed a long-term MOU to enter into a 99-year lease agreement with the Ministry of Entrepreneurship Botswana, the Special Economic Zones Authority, Botswana (“SEZA”), and the Civil Aviation Authority of Botswana (“CAAB”). The MOU provides an area of 371 acres (150 hectares) for the development of an MCC Worldwide Free Trade Hub Zone with direct flight line access. MCC Worldwide will be the economic engine to spur development at Sir Seretse Khama International Airport’s, Airport City, stimulating trade to and from Africa.
MCC Worldwide is a US-based development and holding company with extensive experience in international real estate development, security, technology and international commodities trading. This will be the second MCC Free Trade Hub Zone that will interconnect KYC compliant member companies with the world’s trading facilities. Patterned after the successful Dubai Multi Commodities Centre (DMCC) and the Dubai International Financial Centre (DIFC) located in the United Arab Emirates (UAE), the new Free Trade Hub Zone will establish Botswana as the preeminent trading location in Africa’s southern region for international commodities, facilitating ease of trading with the world.
George Kearns, Chairman and CEO of MCC Worldwide, stated “The country’s burgeoning technology sector, and its central location provide ideal access to southern Africa. It will be the exclusive KYC compliant hub for international commodities trading – both physical and electronic – in diamonds, gold, precious metals, precious stones, copper and other commodities including beef, spices and coffee.”
MCC Worldwide will provide an ecosystem of financial, technological and regulatory infrastructure, streamlining trade and enable seamless business transactions and, in the process, establishing Botswana as the premier international gateway for southern Africa, as it is already the fastest growing economy in the world. MCC will play a decisive role in its continued economic evolution.
Botswana’s Minister of Entrepreneurship, the Hon. Karabo Gabe, said that the Letter of Intent between MCC and the Government of Botswana marks the beginning of a promising partnership between the two parties. “This will position Botswana as a premier investment destination for international commodity trading, and by so doing, position Botswana as an entry point to both the regional, African and global markets.”
Mr. Kearns said he was delighted with the firm relationships that have grown over the last two years with Botswana government officials to arrive at this agreement. “Our management team will work in unison with the Botswana agencies with a single goal in mind: that of ensuring our mutual long-term success.”
MCC Worldwide is a Free Trade Hub Zones initiative that will reduce the political and financial risk of doing business and will provide the infrastructure to facilitate physical commodities trading, as well as financial, technological, and regulatory services.
