02 Sep 2014

A leading South African economist who is also chief executive officer of Frontier Advisory, Dr Martyn Davies has challenged Botswana to diversify its economy and not overly rely on a single commodity; diamonds.

Speaking during University of Botswana Foundation Dinner Dance held at GICC, Dr Davies warned that while most African countries were moving away from reliance on a single commodity, Botswana was moving slowly in diversifying the economy.


Dr Davies said should the markets become saturated or become unstable; the economy was bound to shake as it would not be supported by other marketable and exploitable products in the industry.

He noted that through innovation and creativity, the country could also lead in the quest for a transformed and sound economy without hurting many but ensuring sustainable job and wealth creation,

Dr Davies, who is overseeing a leading research, strategy and advisory firm that advises a number of multinational companies on their strategies in Africa and other emerging markets, said there was no need for Botswana to fail to effectively exploit what it have to make secondary goods and create wealth, which will definitely ensure diversified economy.

According to Dr Davies, many entrepreneurs fail to grow in Africa as they do not want to exploit talent and replace capitalism to some extent.

A quick glance at Dr Davies’ background shows that he has served as an industry expect to the World Economic Forum’s Mining and Metals Industry Group, and was an advisor to the Organisation for Economic Corporation (OECD) for its global Development Outlook Project.

He has also lectured at Wits Business School, the Henley Business School and Peking University in China.


In his welcome remarks, UB Vice Chancellor, Professor Thabo Fako noted that Africa is a continent with many opportunities and resources which are yet to be natured and economically exploited for the good course of its people.

He said currently the African economy was growing impressively, noting that people should not focus on bad publicity or bad stories said by about Africa because there is no way you can ignore or shut it out as it forms part of the global village and it can never be ignored when it comes to economic transactions and development at higher level.

He however noted this dinner dance was very important to them as UB because of its good course where funds are raised to the upliftment of those who are trying to pursue further studies.

He also told different stakeholders at the event that UB is where it is now because of wise men and woman including different stakeholders in the society.

Speaking at the same event, Chairman of UB Foundation Board of Trustees, Mr Satar Dada noted that this 14th fundraising event marked yet another milestone in the quest to advance, promote and support the mission and vision of the UB as a Leading Academic Centre of Excellence in Africa and the World.

Mr Dada said they have the responsibility to address and help solve the many social challenges facing the nation, region and world through research, teaching and community development

“We prepare our graduates to assume leadership roles to meet the nation’s manpower development needs and to contribute to the well-being of the community in which they live,” he said.

Through its history and vision, thousands of students graduated from this institution, and today the university is fortunate and proud of its growing network of students and alumni across the world.

Many of our past and present high ranking captains of commerce and industry, including government ministers, are proud products of UB, he said. 


The UB Foundation was funded on the spirit of self-reliance which had earlier seen the establishment of the University College of Botswana in 1980 through the university campus appeal; otherwise known as One Man, One Beast or Motho le Motho Kgomo.

The foundation builds partnerships with alumni, the general public and private sector to grow an endowment fund which provides scholarships to citizen graduate students.

To date the UB has awarded over 180 graduate scholarships across all university faculties. Ends