03 Nov 2026

Vice President Ndaba Gaolathe says government is undertaking transformation in one of the most complex and uncertain global economic environments.

Delivering a keynote address at the Budget Pitso for Local Authorities in Maun on November 2, Mr Gaolathe, who is also the Minister of Finance, said wars and geopolitical tensions were disrupting energy markets, trade routes and supply chains.

Mr Gaolathe said volatile oil prices were increasing the cost of transportation and production of essential goods while trade fragmentation, changing financial conditions and technological disruption were reshaping the foundations of global competitiveness.

“For a small, open economy such as Botswana, such developments are not distant international events as they affect the price of fuel, the cost of food, the competitiveness of the businesses and the purchasing power of the households,” he said.

Therefore, he urged local authorities to be engines of local economic development, investment facilitation and sustainable livelihood creation.

He said local authorities must not merely act as centres of administration and service delivery, noting that government ambition was not simply to help people survive poverty, but to create pathways through which they could sustainably overcome it.

“This is why local authorities are central to Botswana’s transformation agenda. You understand the economic potential of your communities, the barriers confronting local enterprises and the practical conditions necessary for investment to flourish,” he said.

Mr Gaolathe emphasised that the journey to high-income status will demand difficult choices, institutional courage and sustained collective efforts. ENDS