Africa-Press – Botswana. Botswana is positioning its private sector, social entrepreneurs, and innovators as key drivers in building a new economy. Vice President and Finance Minister, Ndaba Gaolathe, emphasized that the government is committed to creating a policy environment that supports entrepreneurship and innovation.
In a keynote address at the International Finance Corporation (IFC) day, Mr Gaolathe stated that government aims to remove man-made barriers to economic growth. He highlighted plans to review legislation and simplify the tax system to encourage private sector participation.
“Botswana needs to broaden its tax base, diversify revenue sources, reduce wastage, and elevate efficiency and effectiveness,” he said. He noted that the Botswana Economic Transformation Programme has already produced investment-ready, high-impact projects, some of which are self-funding while others require partial support.
Mr Gaolathe stressed the importance of consultative engagement, saying that forums have helped identify national priorities and foster an environment of inclusive growth, trust, and accountability. “This is significant given that national resources are limited while societal needs continue to grow,” he added.
The Acting President expressed hope that the IFC would share insights on its latest offerings in sectors such as manufacturing, agri-business, infrastructure, and resources. As the largest global development institution focused on private sector growth in emerging markets, IFC’s collaboration is expected to strengthen Botswana’s economic transformation efforts.
Botswana’s strategy signals a clear commitment to leveraging private sector innovation and social entrepreneurship to diversify the economy, enhance efficiency, and create sustainable growth.
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