15 Feb 2024

Member of Parliament for Molepolole South, Mr Oabile Regoeng has hailed as  people-centered, the 2024/2025 budget proposal.

Debating the budget proposal in Parliament on Tuesday, Mr Regoeng noted that the proposed budget considered issues such as inflation, high unemployment, climate change, slow economic growth locally and globally and recovery from the COVID-19 pandemic.

The MP also said the budget considered the high youth unemployment, and that significant funds allocated to sport development, the arts and creations and the Youth Development Fund (YDF) to alleviate the youth unemployment challenge.

He said he hoped that young people in Molepolole South would utilise and benefit from the fund due to its increasing scope of funding.

He also said the introduction of the Chema Chema Fund added to the budget’s people centricity. The fund, he said, would widen government funding of small and medium enterprises which had difficulty accessing mainstream funding institutions.

However, he said the fund’s P200 million was insufficient and proposed that the figure be doubled. The MP also said the introduction of the Temo Letlotlo programme added to the budget being people centered.

He said through proposed interventions, lives would be uplifted and that the budget provided a fertile ground for industrialisation.

He added that increased funding for research and development was aligned with transforming the country into a knowledge-based economy.

Maun West Member of Parliament, Mr Dumelang Saleshando said the ruling Botswana Democratic Party had failed to deliver an inclusive economy it promised.

He said youth unemployment had grown to 34 per cent, and that the number of youth not in employment, training or school had also increased as well as the unemployment rate at 26 per cent.

Furthermore, he said government had failed to hold high level consultative council meetings with the private sector although it had promised a private sector led economy.

Mr Saleshando also said the country’s investor confidence and global competitiveness had declined, adding that the failure to adopt and use technology was among the issues affecting competitiveness.

He said the country was also facing a shortage of medical drugs which affected people’s well-being.

Regarding the Chema Chema Fund and increased funding for YDF, Mr Saleshando criticised the funding model, especially under YDF, saying beneficiaries were failing to repay loans.

He said the lending practices were irresponsible. ENDS