14 Feb 2017

Specially Elected MP, Ms Bogolo Kenewendo, says Botswana's future is in the Information and Communications Technology (ICT).
In her presentation at the 23^rd Annual First National Bank Botswana (FNBB) Budget Seminar, Ms Kenewendo said for Botswana to be able to connect with the world and tap into new regional and international markets, there was need for government to invest more on high speed internet for good connectivity.
“We will not reform, if we will miss out on the opportunities, but the opportunities are there for everyone to grab. We need to look at where other countries are going and bench mark not only by words and by visits, but also by implementation,” she added.
The ICT, Ms Kenewendo said were powerful in extending economic opportunities to people in both urban and rural areas. She also added that new technologies could also help change people's lives in unprecedented ways in terms of bringing about innovative ways of how companies do business and delivering public service in rural areas.
The Global Competitiveness Index (GCI), she said had also shown that Botswana was not performing well in ICT usage, adding that a lot of work still needed to be done in this area in terms of public and private sector investment.
In his welcome remarks, FNBB CEO, Mr Steven Bogatsu said the budget speech played a pinnacle role in laying a foundation for the country's economic outlook that could inform both personal and business decisions.
For that reason, Mr Bogatsu cautioned that ripple effects of some of 2016 occurrences such as BCL liquidation would manifest during the course of 2017, adding that, 'against a backdrop of worldwide and local uncertainties, we have cause to remain cautiously optimistic'.
The purpose of the seminar was to stimulate and enlighten conversations around key economic issues, raised by Minister of Finance and Economic Development, Mr Kenneth Matambo, in the 2017 National Budget Speech.
This annual event had a panel of four experts in economic and development matters weighing in on the outputs of the national budget speech and presenting their views and ideas about the country's economic future.
Another panelist, founding President of Boitekanelo Group, Dr Tiro Mampane said for private sector to create jobs, equipping Small, Medium and Micro Enterprises (SMMEs) with the right knowledge and skills to manage their businesses was key as they could help contribute in job creation and economic growth.
Supporting SMMEs, Dr Mampane said was a key development issue, adding that 'there is need to address all challenges that plague SMMEs to promote inclusive economic growth in the long run and the success of the SMME sector.”
In his presentation, FNBB research manager, Mr Moatlhodi Sebabole said government needed to address certain weaknesses to realise its economic diversification aspirations. These, he said included moving away from being a mineral dependent economy and also from expecting more from Southern African Customs Union (SACU) revenues.
The forecast, as per the budget, Mr Sebabole said was for about 60 per cent to come from SACU and minerals - with SACU expected to contribute more than minerals.
This, FNBB research manager said made Botswana's economy to be more vulnerable to international markets, adding that it was crucial for government to device new ways of widening its revenue base. 
Sharing his insights on how Botswana could pull itself from the global trend of sustained economic instability, Rand Merchant Bank Currency Strategist, Mr John Cairns said although Botswana had plans in place on how to grow its economy.
However, Mr Cairns said global economic projections could still pose negative impacts on the country's export earnings. ENDS