24 Aug 2016

The mining sector has created the base and foundation for the physical and economic development of the nation.

This was said by the former Mayor of Francistown City Mr Iqbal Ebrahim at the ongoing BOT50 lectures at the University of Botswana recently.

Mr Ebrahim said, “there is no doubt that Botswana has achieved many milestones and has done well in terms of development and growth since independence. We have also achieved many top international ratings in many areas of development,” he said.

However, Mr Ebrahim noted that Batswana needed to take this opportunity of 50 years of independence to evaluate the success, failures and gaps in development agenda. 

He said the country had been fortunate to have had the mining sector as the major driving force together with the beef sector.

“The message is that we need to diversify our economic base so that we are not reliant on a single commodity base,” he said.

Mr Ebrahim stated that expanding the market for beef sector could help rather than depending solely on the EU market.

“That market is good but is very selective, particularly that we always have to comply with their set standards and requirements,” he said.

He also called for the introduction of savings bonds for small and medium investors so that after they had accumulated they could be used to buy shares and bring profits.

In her remarks, Professor Imogen Mogotsi said for Botswana to move towards the next engines of growth, agriculture sector should be assisted with modern techniques such as tunnels, shade net farming and drip irrigation to produce more.

The country, she added should give priority to the manufacturing industry as it had been realised that there was a positive correlation between manufacturing and economic growth, as evidenced in the more advanced countries.

Prof Mogotsi indicated that tourism as well could be improved, particularly that between 2005 and 2014, the contribution of hotels and restaurants doubled in GDP from 2.8 to 5.6 per cent. 

She noted that informal sector should be given special assistance not only to address issues of poverty but also of economic diversification.

The lecture, themed ‘Towards the next engines of growth’ was the second of the seven lectures series organised by the University of Botswana. Lectures will continue until September 22 to pave way for BOT50 celebrations. Ends