*Gaolathe declares war on bureaucracy in economic overhaul
For decades, diamond revenues have underpinned Botswana’s economic success bringing stability and prosperity.
While this has paved a successful journey for Botswana, it has also exposed cracks, overdependence on diamonds, sluggish diversification, high unemployment and widening inequality.
As a result, the Botswana Economic Transformation Programme (BETP) is expected to reshape the foundation of local economy with a cumulative investment of P514 billion mobilised over a ten year period to unlock new industries and revitalise existing ones.
Through its full execution, the programme is expected to create over 512,000 jobs, bring opportunities and dignity to households and lift Botswana’s Gross National Income per capita to USD 15,730 by 2036. This is anchored on 186 verified projects with defined baselines, milestones, and accountability measures.
Giving an update on the programme, Vice President and Finance Minister, Ndaba Gaolathe said this will place Botswana firmly within the ranks of high-income economies with the cumulative investment and the jobs forecasts solely linked to the BETP projects.
“Botswana has never lacked sound policies or well-crafted programmes. Our real challenge lies in execution. Too often, good ideas stall at implementation, hindered by weak coordination, delayed decisions, and limited accountability,” he said.
Ndaba said government and private investors had previously planned to launch some of the BET projects but progress stalled due to poor coordination, red tape or limited capacity.
“Some projects are already operational and now seek to scale up their reach and deepen their impact,” he said, emphasising that the BETP has also launched a new wave of bold initiatives to open new industries, attract investment, and position Botswana for lasting competitiveness in a fast-changing world.
BETP received 6,925 submissions from Batswana and the international community with focus on six economic sectors being tourism, agriculture, manufacturing, financial services and digitalisation, energy and mining, and infrastructure.
With the aim to build an agricultural sector that can feed the nation, sustain rural incomes and drive exports, 26 priority projects have been identified which include; Botswana’s National Chilli Export Value Chain, Mushroom production, Botswana’s Cotton Production, Moringa Agriculture -Based Clusters and Large-Scale Hemp Production.
“We invite Botswana’s financiers, institutional investors, bankers, cooperatives, and entrepreneurs to join hands with government in injecting capital into projects that are ready to move but require additional co-financing. This is the time for Botswana’s financial system to play a defining role to back projects that will create jobs, unlock value chains, and deliver measurable returns for the nation. The government’s role focuses on facilitation and creating an environment where investment can happen efficiently. This facilitation includes resolving issues of land allocation, change of land use, business permits, market access, and inter-ministerial coordination that often dampens progress,” said Gaolathe adding that sixty percent of BETP projects are privately led and financed.
With regards to the manufacturing, the sector will be anchored by light manufacturing, resource based and heavy Industry, high-tech and sophisticated industry.
As it stands, 22 priority projects and initiatives have been developed which include amongst others the Green Battery Metals Refinery, IV fluids manufacturing, and Clean Mobility Vehicle Assembly that will position Botswana as a regional manufacturing hub.
