The Cape Town-headquartered IFA firm, which launched in South Africa in October 2014, said it chose the country due to its political stability and “flourishing” high net worth market.
“Although the size of the population in Botswana, in comparison with South Africa, is small, the economy is very well-managed and there is a long history of political stability.
“The Pula is competitive relative to the inflation differential and investors will be pleased to know that the country has signed up to various world financial agreements which ensure financial security, and that the high net-worth market is flourishing,” said Carrick in statement.
The new office, located in the capital city of Gaborone, is the company’s third international base after it opened up an office on the island of Mauritius earlier this year, as well as a venture in Zimbabwe.
Carrick also has offices in Durban and Johannesburg.
In June, group managing director, Craig Featherby told International Adviser that Carrick was planning to expand into Nigeria and Kenya, although it was still waiting for the go-ahead from Kenya’s Capital Markets Authority (CMA).