03 Feb 2025

There is an urgent need to re-engineer a strategic focus for revitalisation in order for Botswana to attain the aspirations to become a high income economy and eradicate poverty by 2036. 

United Nation Economic Commission for Africa (UNECA), Executive Secretary, Mr Claver Gatete said this during an engagement with senior government officials recently.

He pointed that Botswana should leverage its competitive advantages stating that it was commendable that the country had an above-average educated population on the continent.  

He said Botswana’s strengths, governance, educated human capital and emerging sectors, including the service sectors offered a foundation for new pathways to inclusive, sustainable growth and job creation.

“The energy and innovation of young people are key to unlock new industries, promote entrepreneurship and drive technological transformation, therefore investing in skills development, digital literacy and youth-led enterprises will create the jobs and industries of the future,” he said. 

Mr Gatete said beyond diamonds, the country possessed untapped potential in agriculture particularly beef and leather value chains as well as digital innovation and renewable energy. 

He said the economic landscape was shifting and new strategies were required to sustain growth, ensure resilience and secure a prosperous future for all. He said enhancing governance efficiency and accountability was paramount. 

To that effect, Mr Gatete said streamlined public sector processes, improved regulatory frameworks and strengthened institutions would enhance investor confidence and accelerate economic progress. 

He thus proposed reforms on areas like Botswana Integrated Sustainable Financing Strategy (BSFS) as it was a critical step in bridging the financing gap for sustainable development and its effective implementation would be crucial in this endeavour. 

To turn reforms into action, Mr Gatete proposed key policy interventions, citing the need to reassess Botswana’s development model for greater impact and create a good environment for private sector investment. 

He said it was important that Botswana invest in high-return sectors that create jobs for the youth and strengthen policy coherence and coordination. 

This, he said would enhance policy effectiveness and ensure that growth was inclusive and sustainable.

“We believe that with the right strategies and decisive action, Botswana can build a diversified, knowledge-driven and globally competitive economy,” he said. ENDS