Botswana’s Vice President and Minister of Finance, Ndaba Gaolathe, has announced that the country is being transformed into a logistics and production centre for the beneficiation of base metals. The statement was made at the opening of the Northern Trade Fair in Francistown, Botswana’s second-largest city.
Gaolathe said that the Government is responding to fiscal constraints and a weakened outlook in the diamond sector. “We are taking the lead with a sober understanding of the new economic reality before us,” he stated in his keynote address.
To confront this new context, the Vice President argued for action beyond national borders. “We needed to go out into the world, knock on doors, build partnerships, and secure funding,” he said, highlighting the efforts made in recent months. He noted some early results, such as new investments, partnerships, and successful concessional financing negotiations. “These gains could never have been secured from behind a desk in Gaborone,” Gaolathe remarked.
Regarding the implementation of priority infrastructure projects outlined in the 2025 budget, the Vice President clarified that many will be funded directly from the Government’s balance sheet. “This is a deliberate policy choice,” he explained, noting that the traditional model of public spending is no longer sufficient.
He proposed alternative financing models, such as public-private partnerships, build-operate-transfer schemes, and blended finance. “We’re already seeing encouraging signs of investor interest,” he noted, referring to sectors like energy, logistics, water, and digital connectivity.
Gaolathe also addressed public criticism over official travel, acknowledging the need for greater oversight. “Not every trip is essential,” he admitted, promising stricter scrutiny and alignment with national interests.
Finally, he revealed that the Ministry of Finance is leading a new Economic Transformation Strategy, which will serve as “a clear national manual—shared in vision, collectively owned, and relentless in execution”, underpinned by rigorous research and economic science.
Source: The Botswana Gazette
