14 Dec 2022

In pursuit of its high income status ambitions, Botswana has identified seven sectors for targeted investment.

This was revealed by President Dr Mokgweetsi Masisi when giving a public lecture at Brookings Institution’s Africa Growth Initiative in Washington DC on Tuesday. 

The sectors included manufacturing, trade, agriculture, tourism, energy, infrastructure and sports/creative, he said.

President Masisi said investors could use the sectors to capitalise on returns that would be brought about by the Africa Continental Free Trade Area which presented vast opportunities for exports across the continent.

He said Botswana was best placed to attract global talent and foreign direct investment owing to its attributes including a strong culture of peace, stable democracy and relatively good baseline infrastructure as well as being one of Africa’s strongest economies.

Dr Masisi said the country’s other attributes were successful utilisation of natural resources for the upliftment of citizens and significant strides made in social performance with improved poverty reduction and health care.

“Relatively speaking, Botswana remains one of the least corrupt countries globally, an attractive proposition for investors and talent,” he said.

The President said government was intensifying efforts to restructure the economy by ramping up industrialisation, development of value chains, diversification and beneficiation of raw materials, especially minerals.

He informed his listeners that a National Transformation Strategy providing a framework for fully coordinated, articulated and aligned sectoral and industry strategies in the public and private sectors was in place.

The President said the  strategy  also provided the needed fundamental changes in legislation, programmes, policies, practices and institutions.

 In addition, it promoted mindset change to transform Botswana from a resource-based to a knowledge-based economy driven by competitiveness, productivity and efficiency, said Dr Masisi.

Africa Growth Initiative director, Dr Aloysius Ordu said Brookings Institution was working in partnership with the Botswana Institute for Development Policy Analysis.

The institution was one of the initiative’s strongest partners on the African continent, he said revealing that it recently facilitated Botswana youth’s attendance of COP 27.

The public lecture,  on the topic, Tackling Complex Challenges in Complex Times, was aimed at sharing Botswana’s experience in navigating the pressing issues facing Africa and the country’s strategies for attaining high income status.BOPA