Africa-Press – Botswana. Govt Officials’ International Trips Bearing Fruit
Acting President and Minister of Finance, Ndaba Gaolathe, has offered a glimmer of hope to the business community despite an economy projected to contract by 0.4%.
Officially opening the Business Botswana Northern Trade Fair (BBNTF) this morning, Gaolathe acknowledged the economic downturn, noting its real and harsh IMPACT will result in small businesses struggling to survive, companies scaling back operations, and entrepreneurs shelving ideas due to high risk.
He highlighted the nation’s overreliance on diamonds, calling it not just a vulnerability but a strategic liability.
“In the 2024/25 financial year alone, mineral revenues fell short by a staggering P17.8 billion,” Gaolathe said. He said this pushed the budget deficit to P24.8 billion, equivalent to 9 percent of the country’s GDP. “For a country long known for its fiscal prudence, this is a sobering reality,” he said.
However, Gaolathe emphasized that the outlook isn’t entirely bleak. “When we assumed leadership, we did so with a clear-eyed understanding of the economic challenges. With a muted diamond outlook and growing fiscal constraints, we realized we couldn’t rely on business as usual.”
He explained that the government made a deliberate choice to engage the world, knocking on doors, forging partnerships, securing funding, and marketing Botswana as a destination for long-term, strategic investment.
“In recent months, we’ve done just that, engaging with local and international investors, multilateral development institutions, and key decision makers across regional and global platforms,” he said.
“We are already seeing early signs of progress. New investments being scoped, partnerships formed, and concessional funding discussions either concluded or well underway. These gains could never be secured from behind a desk in Gaborone,” Gaolathe noted.
He further revealed growing investor interest, particularly in infrastructure development, spanning energy, logistics, water, and digital connectivity.
Gaolathe reminded the business community that these partnerships don’t just materialize, but are built through engagement, trust, and shared vision. “This is why highlevel missions and face-to-face negotiations with credible investors and governments are not only justified they are essential,” he said. “They enable us to attract the technical know-how and financing we need, while keeping Botswana’s public finances on a sustainable path,” Gaolathe said.
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