Africa-Press – Botswana. The Vice President and Minister of Finance of Finance, Ndaba Gaolathe, just told his audience at the Northern Trade Fair in Francistown: “We are transforming Botswana into a logistics hub and a manufacturing hub for base metals beneficiation”
Vice President Ndaba Gaolathe used the opening of the Northern Trade Fair to lay out Botswana’s new economic direction, underlining a decisive shift from business-as-usual in response to fiscal constraints and a muted diamond outlook.
“We assumed leadership with a sober understanding of the new economic reality before us,” Gaolathe said in his keynote address. “If we are to steer this country through uncertainty… we could not rely on business as usual.”
To navigate Botswana’s evolving economic landscape, the Vice President stressed the need to look beyond domestic borders. “We needed to go out into the world, to knock on doors, to forge partnerships, to secure funding,” he said. “Over the past few months, we have done just that.”
Global partnerships
He pointed to new investments and partnership formations, as well as successful concessional funding negotiations. “These gains could never be secured from behind a desk in Gaborone,” Gaolathe noted.
In addressing the delivery of critical infrastructure, the Vice President said many of these projects, as outlined in the 2025 Budget Speech, will be financed off the government’s balance sheet.
“This is a deliberate move,” he stated. “Given the current fiscal pressures, it would be irresponsible to attempt to fund everything through traditional public expenditure.”
Blended finance
He outlined alternative models such as Public-Private Partnerships (PPPs), Build-Operate-Transfer (BOT) schemes, and blended finance approaches, which he said should allow the country to implement key initiatives without deepening debt.
“There are already encouraging signs of investor appetite,” he said. “Several infrastructure players have expressed strong interest in developing projects across sectors – from energy to logistics, water infrastructure to digital connectivity.”
While defending travel undertaken to secure such partnerships, Gaolathe acknowledged public concerns. “Not all trips are indispensable,” he admitted. “Moving forward, we will exercise greater scrutiny to ensure that every mission delivers tangible value to the country.”
Clear benefits for Botswana
However, he warned against missing strategic opportunities, especially when travel is fully funded and “so long as it aligns with national priorities and offers clear benefits to Botswana”.
The Vice President revealed that the Ministry of Finance is spearheading a new Economic Transformation Strategy to address the limitations of past approaches. “This strategy will not be just a document but a national playbook clear in vision, collective in ownership, and relentless in execution,” he said.
The strategy will align ministries and institutions towards a unified goal. Gaolathe described it promised it as “grounded in rigorous research and sound economic science”.
Fulcrum of regional trade
“We will go beyond assumptions, beyond reasonable doubt, to scientifically uncover Botswana’s true sources of competitive strength,” he said.
Turning attention to the host city, Gaolathe emphasised Francistown’s potential to regain its status as a logistics powerhouse.
“This sleeping giant needs to now reawaken decisively (and) unapologetically to reclaim its role as the fulcrum of regional trade and connectivity,” he said.
Zambezi water transfer
Mega infrastructure projects such as rail and fuel pipelines, along with Zambezi water transfer plans, will pivot around Francistown. “We are transforming Botswana into a logistics hub and a manufacturing hub for base metals beneficiation,” Gaolathe sated.
He commended Business Botswana and its president, Neo Nwako, for giving substance to this year’s fair and anticipated productive dialogue with local businesses later in the course of the day.
“I expect that a framework will be developed to track these issues and follow through with solutions,” Gaolathe said.
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