The Botswana government is set to embark on an aggressive campaign to attract more investors into the country as part of efforts to revive the struggling economy. This was revealed by Vice President and Minister of Finance, Mr. Ndaba Gaolathe, during a kgotla meeting in Kang on Tuesday.
Mr. Gaolathe stated that the economic downturn, largely caused by declining diamond sales, had compelled the government to seek alternative avenues for economic recovery. He emphasized that attracting investors would not only revitalize the economy but also create much-needed job opportunities, particularly for the youth.
However, the Vice President warned that corruption posed a significant threat to these efforts. He stressed that if corruption was not tackled decisively, it would deter investors and ultimately undermine economic recovery initiatives. As such, the government is committed to building an inclusive economy within a corruption-free environment. Eliminating corruption, he said, would boost investor confidence and create a favorable business climate.
Addressing concerns about social welfare, Mr. Gaolathe acknowledged that due to prevailing economic challenges, the government was unable to increase the old-age pension allowance from P830 to P1,800 as previously promised. He urged citizens to actively participate in income-generating activities to contribute to economic growth.
Additionally, the Vice President announced plans to reform state-owned enterprises, including the Water Utilities Corporation and Botswana Meat Commission, transforming them into high-performance organizations that efficiently deliver on their mandates and serve as drivers of wealth creation.
During the meeting, Kgosi Basadi Seipone welcomed Mr. Gaolathe and highlighted the need for infrastructure development in Kang. She pointed out that the village lacked essential facilities such as a referral hospital to serve the western region and a bus terminal for improved transport services.
Residents also raised concerns about rising cases of stock theft, expressing frustration that perpetrators were rarely convicted. They called on the government to strengthen law enforcement to curb the crime, which threatens their livelihoods.
As Botswana navigates economic challenges, the government’s commitment to attracting investment, fighting corruption, and improving service delivery is expected to play a crucial role in stabilizing and growing the economy.
