{"id":10267,"date":"2022-07-13T13:39:48","date_gmt":"2022-07-13T13:39:48","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation"},"modified":"2022-07-13T14:55:39","modified_gmt":"2022-07-13T14:55:39","slug":"resilient-recovery-hinges-on-increased-private-sector-participation","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation","title":{"rendered":"‘Resilient recovery hinges on increased private sector participation’"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Botswana can transform its economy, create jobs, reduce inequality, and achieve a resilient recovery from COVID-19 by increasing private sector participation and investment in its energy, water and sanitation, tourism, and other sectors.<\/b><\/p>\n

This is according to a new report published by the International Finance Corporation and the World Bank.<\/p>\n

The Botswana Country Private Sector Diagnostic (CPSD) highlights opportunities for investment and growth in Botswana and ways the country can achieve a more resilient, green, and sustainable economic future, including through regulatory improvements and diversification.<\/p>\n

The CPSD outlines regulatory gaps that hamper competition and productivity and suggests boosting access to finance for smaller businesses and increasing investment in skills development suited to the job market’s needs.<\/p>\n

The CPSD also suggests increasing investments in transport and digital infrastructure, which lag behind other countries in the region. The CPSD notes the impact of Botswana\u2019s state footprint on competition in key sectors and its diamond-reliant growth model as challenges to growth.<\/p>\n

Botswana is the world\u2019s second-largest diamond producer, but the COVID-19 pandemic slashed revenues from the diamond and tourism sectors, which combined account for 30% of GDP.<\/p>\n

Diamonds alone comprise about 90% of Botswana\u2019s exports. \u201cThe COVID-19 pandemic disrupted economic activity in Botswana and sharply reduced revenues from the diamond and tourism sectors,\u201d said World Bank country director for Botswana, Eswatini, Lesotho, Namibia, and South Africa, Marie Francoise Marie-Nelly. \u201cThe World Bank is committed to supporting the government to enact reforms aimed at attracting private investment to diversify the economy and create jobs.<\/p>\n

\u201cBotswana\u2019s economy recorded rapid growth in the decades after independence, largely driven by diamond and mineral wealth, but the country experienced limited gains in employment and income equality,\u201d said Carlos Katsuya, IFC\u2019s senior country manager for Botswana. \u201cIncreasing private sector participation can help to unlock the investment needed to support the country\u2019s economic diversification agenda, create jobs, reduce income inequality, and bolster economic growth.\u201d Botswana stands out among countries in Africa for its successful development policy, economic performance, and long track record of macro-economic stability. The country has implemented many favourable investment policy measures that have contributed to significant investments in infrastructure, education, health, and social protection. However, there is still room for improvement to boost human capital indicators, create jobs, and reduce inequality, which remains among the highest globally.<\/p>\n

The CPSD suggests specific interventions that Botswana can take to accelerate economic diversification and private sector participation, including developing a dedicated investment policy and investment law, strengthening formal mechanisms to address investor grievances, addressing corruption, and enhancing government effectiveness.<\/p>\n

The report aligns with commitments made under Botswana\u2019s Economic Recovery and Transformation Plan (ERTP) and Vision 2036 to expand the domestic economy by diversifying away from diamonds and refocusing on an export-oriented, labour-intensive, and private sector-driven model.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Botswana can transform its economy, create jobs, reduce inequality, and achieve a resilient recovery from COVID-19 by increasing private sector participation and investment in its energy, water and sanitation, tourism, and other sectors. This is according to a new report published by the International Finance Corporation and the World Bank. The Botswana […]<\/p>\n","protected":false},"author":84,"featured_media":10266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,237,234],"class_list":["post-10267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\n'Resilient recovery hinges on increased private sector participation' - Botswana<\/title>\n<meta name=\"description\" content=\"Botswana can transform its economy, create jobs, reduce inequality, and achieve a resilient recovery from COVID-19 by ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"'Resilient recovery hinges on increased private sector participation'\" \/>\n<meta property=\"og:description\" content=\"Botswana can transform its economy, create jobs, reduce inequality, and achieve a resilient recovery from COVID-19 by ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-13T13:39:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-13T14:55:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/07\/postQueueImg_4-62cedcd84bd2d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"‘Resilient recovery hinges on increased private sector participation’\",\"datePublished\":\"2022-07-13T13:39:48+00:00\",\"dateModified\":\"2022-07-13T14:55:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation\"},\"wordCount\":481,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/07\/postQueueImg_4-62cedcd84bd2d.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/resilient-recovery-hinges-on-increased-private-sector-participation\",\"name\":\"'Resilient recovery hinges on increased private sector participation' - 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