Diversification, key to sustainable growth

The falling global commodity prices, including a diminishing market for Botswana’s diamonds has exposed the country’s vulnerability to external economic shocks. Heavily dependent on diamonds for fiscal and export revenue, the country’s economy suffered setbacks in economic growth as a result of weak external demand for diamonds.

This could be the reason why Moshie Ratsebe, director of investment promotion at the Botswana Investment and Trade Centre (BITC) suggested the need to diversify agricultural production and promote potential for investments.

He noted that the agricultural sector is envisioned as a source of economic growth and job creation.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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