23 Jun 2026

The Vice President and Minister of Finance, Mr Ndaba Gaolathe is Vienna, Austria for the Organisation of the Petroleum Exporting Countries (OPEC) Fund’s 50th Anniversary and Development Forum 2026.

A press release from the Ministry of Finance says the forum is a premier global platform that brings together heads of state and government, ministers, international financial institutions, development partners, global business leaders and policy experts to deliberate on sustainable development, economic transformation and innovative financing solutions.

During the forum, the Vice President will participate in a high-level fireside chat on, Upgrading Local Value Chains: Driving High-Value Exports and Diversifying Growth, where he will share Botswana’s experience and perspectives on economic transformation, value addition, export competitiveness and industrial development in Africa.

“Botswana’s participation reflects the country’s growing partnership with the OPEC Fund, which was formalised through a Country Partnership Framework signed in 2025,” states the release.

Under the framework, the OPEC Fund has committed support of up to US$800 million (P10.86 billion) for priority investments in infrastructure, renewable energy, innovation, digital transformation and private sector-led growth, while also providing technical assistance and capacity building support to government.

A key outcome of the visit, the release states, will be the signing of a Technical Assistance Grant Agreement between the Government of Botswana and the OPEC Fund for International Development, to support critical reforms aimed at strengthening debt management, fiscal consolidation and sovereign credit rating capacity within the Ministry of Finance.

From Austria, Mr Gaolathe will proceed to Cape Town, South Africa, to attend the 56th Southern African Customs Union (SACU) Council of Ministers’ Meeting scheduled for June 24 to 26.

The meeting, the release says will deliberate on trade, finance and regional integration matters, as well as the implementation of the SACU Strategic Plan.

Botswana’s participation in the SACU Council, as per the release, remains of strategic importance, as SACU is one of the country’s largest sources of revenue and a key pillar of regional economic integration.

According to the release, the Council Meeting also provides an opportunity for member states to strengthen the efficiency and effectiveness of the Union, while advancing a larger regional market that supports investment, industrialisation, competitiveness and export-led growth across the region.

For Botswana, SACU market presents an important platform for building scalable and competitive industries capable of creating jobs and driving economic transformation.

In Cape Town, the Vice President will be accompanied by the Minister of Trade and Entrepreneurship, Mr Tiroeaone Ntsima, together with senior government officials.

During Mr Gaolathe’s absence, the Minister of Environment and Tourism, Mr Winter Mmolotsi, will serve as there Acting Minister of Finance, states the press release. ENDS