Africa-Press – Botswana. The private sector plays a critical role in advancing regional integration and economic development, says President Advocate Duma Boko.
President Boko was speaking at an engagement with Chief Executive Officers (CEOs) from the Southern African Development Community (SADC) during the CEO Community African Chapter business meeting hosted by the European House Ambrosetti in Gaborone on July 24.
He highlighted the importance of private sector leadership in shaping a resilient and competitive regional economy.
President Boko underscored that achieving sustainable regional growth required active participation from both government and private enterprises.
“The private sector must be regarded not merely as a stakeholder but as an equal partner in our development agenda. Redefining the relationship between public institutions and private enterprise is crucial; it should be deeply collaborative, not purely transactional,” he said.
He called on regional governments to foster an enabling environment that encouraged private sector innovation and investment, saying that government must adapt to business realities.
“We need to create spaces for the private sector to lead in driving progress,” President Boko said, reaffirming his commitment to promoting governance models that responded effectively to business needs while emphasising regional solidarity.
The President also pointed to historical disconnects between the government and private sector, which had hindered economic growth. He criticised the longstanding approach where national development plans were largely government-driven, sidelining private sector input.
“We therefore need to redefine the rules of engagement between government and the private sector,” President Boko said.
He emphasised the need to pursue private sector-led growth and to encourage them to deploy finances, capital, and resources toward development goals.
He pointed out that Botswana was facing challenges due to poorly configured institutions and operational inefficiencies, which hindered the country from progressing along its envisioned trajectory.
“Government has been its own worst enemy, largely because of a lack of agility and responsiveness,” he said. He explained that the government’s structure currently impedes swift action and prompt response, a situation that had become normalised and ingrained into the culture of governance.
President Boko further noted that there were opportunities for the private sector to contribute to transforming Botswana from a mono-sectoral economy into a more digitalised and innovative one. “We are facing economic challenges as a country, but these challenges also present immense opportunities for the private sector, especially in the innovative and digital spaces.These sectors could help us extend our capabilities,” he said.
He also highlighted Botswana’s strong credit ratings, which could position the country as a financial hub within Africa.
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