Africa-Press – Botswana. Botswana Economic Transformation Programme (BETP) offers an opportune moment for the country to practically diversify its economy, President Advocate Duma Boko has said.
Addressing the Strategic Cabinet Workshop for the development of the BETP at the Pavilion, Fairgrounds, Gaborone on July 23, he said the country was entering the next chapter of its development journey, having relied on a single commodity, diamonds for long.
“While this has brought us far, the limitations of this reliance are becoming increasingly unbearable, as evidenced by rising unemployment.
The need for a paradigm shift is not optional, but inevitable and urgent,” said Advocate Boko. He said the two-day workshop, which sees the cabinet engage with technical partners, Malaysian private consultancy firm PEMANDU over the BETP, would deliberate on the future of the national economy.
“This is our moment to identify and align the sectors that hold a competitive edge for our country, and the greatest potential to unlock transformative value. Whether it is agriculture, financial services, manufacturing, tourism or the digital economy our task is to pinpoint where our natural strength, market demand, and strategic ambition intersect,” said President Boko.
He added that such sectors would drive inclusive growth, attract investment, create sustainable quality jobs and ‘position Botswana as a hub of economic dynamism in the region and beyond.’
The President further said economic diversification would require structural transformation, and thus national institutions and policies needed to be aligned to change.
“The key is now to translate this energy into action and deliverables. We have set our sights on a bold, but achievable goal to become a high-income nation. We have engaged PEMANDU Associates because of their global record of accomplishment in delivering results across Asia, the Middle East and Africa. Their Big Fast Results methodology is outcome-driven and implementation focused,” President Boko said.
Setting the tone for the workshop, Vice President and Minister of Finance, Mr Ndaba Gaolathe said it was important to work on good policy decisions that could be translated into real outcomes that practically transform the Botswana economy and people’s livelihoods.
He said having diagnosed the structural challenges facing the national economy, the government, PEMANDU and other stakeholders were now onto the second phase of the BETP, of Strategic Alignment, identifying the solutions and direction of the nation’s development path.
Mr Gaolathe said they would prioritise sectors that offered practical delivery and work on executing the ideas convened from ordinary citizens, cooperatives, the private sector and other stakeholders.
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