Francistown, a city of shattered dreams
Friday, November 25, 2016
In particular, the recent abrupt closure of the Tati Nickel Mining Company (TNMC)’s Phoenix Mine, which was placed under provisional liquidation as part of the BCL Group, came as the final blow.
It’s true that the unexpected closure of the mine, which was the main anchor of the city’s economy, caught many people and businesses off guard including Muzila. The city had bigger dreams of turning things around and even diversifying the economy.
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...