10 Dec 2015

The Economic Stimulus Programme (ESP) will help revive the Botswana economy and deliver the desired economic transformation that ordinary citizens seek, the Vice President, Mr Mokgweetsi Masisi has said.

In his response to the State-of -the-Nation Address (SONA) in Parliament on Wednesday (December 9), Mr Masisi, who is also the Member of Parliament (MP) for Moshupa-Manyana said  the ESP would stimulate economic activity in the country.

“The ESP is a well thought out programme, quite similar to international best practice. For example, in 2008 the United States of America and India implemented stimulus programmes that assisted their economies emerge from stagnation,” he said.

Mr Masisi said Botswana, whose economy was recovering from the adverse effects of the global economic downturn, had come up with the ESP in order to revive economic activity.

“Increased government spending yields greater demand and will eventually lead to more employment and greater redistribution.   We want to put money in the pockets of Batswana legitimately; this programme is not about favouring anyone based on where they come from or their political affiliation,” he said.

Mr Masisi said that the ESP is geared at stimulating the economy, diversification through Economic Development Drive (EDD), and Special Economic Zones (SEZs) as well as job creation.

He listed the targeted sectors as agricultural production, tourism development, EDD, manufacturing, buildings and road construction and maintenance, the re-skilling of youth and the establishment of SEZs.

“The SEZs that have been identified include an international diamond and specialised manufacturing for Gaborone close to the airport; financial services for Gaborone Fairgrounds; beef, leather and biogas park for Lobatse; integrated coal value addition for greater Palapye; mineral beneficiation for Selebi Phikwe; mining supplies, services and logistics hub for Francistown,; and intergrated farming, agro business and food processing for Pandamatenga,” Mr Masisi said.

Mr Masisi said that potential bottlenecks that have been identified in project implementation, such as challenges in capacity, time, procurement and the facilitation of visa and work permit for expatriate workers as well as problems in corruption risk management had been identified and would be addressed.

He also said that developmental backlogs owing to the economic downturn in recent years would be addressed, with more clinics built or upgraded, and the better equipping of schools with modern facilities such as science laboratories and computers.

“We want to leverage on information communications technology (ICT) to improve the lives of Batswana,” Mr Masisi said.

Furthermore, Mr Masisi praised President Lt Gen. Seretse Khama Ian Khama for his stewardship of the country, stating that he has shown genuine compassion for the livelihood of ordinary citizens.

He added that Botswana has developed reputable governance structures, and committed the incumbent government to continuing with the legacy of democracy and development, values that have been the cornerstone of the country since its foundation as a nation-state. Ends