Sunday, November 28, 2021

Botswana economy 50 years down the line

Considered one of the poorest countries in the continent at independence, Botswana discovered unparalleled prosperity and economic success after the discovery of diamonds. The unearthing of the precious stone and the enduring partnership with De Beers laid the foundation for Botswana’s story of “rags to riches.”

The rest of Africa paused to watch and learn as through prudent management of the economy and equitable sharing of resources, Botswana attained economic success and uplifted the lives of its people, in the process earning the enviable accolade of “gem of Africa”. 

A few years later, Botswana was declared one of the fastest economies in the world and it was not long before the country was ranked as an upper middle income country. 

As part of Botswana’s 50th anniversary of independence celebrations, a local company called 50 Years of Economics and Business says it will launch a publication titled: 50 Years of Economics and Business. 

Speaking at the Bots50 of Economics & Business media launch recently, publishing partner Kagiso Habangana noted “Flagged as the main headliner of 50 years economics and business reviews in 2016 the publication will provide a unique platform and an opportunity to premier local & international businesses, enterprises and corporate to celebrate with Botswana by sharing their stories their founders & leaders to celebrate their stories on growth and contribution to Botswana and from doing business with Botswana,” he said. 

The company said it is at present time working on putting together a compilation of businesses in one book, to be released on the 1st of September. This book will highlight the success stories of companies in Botswana. 

“The opportunity further provides these businesses to showcase themselves to the World as ideal business partners for incoming investors based on their experience and growth with the country. It is a chance to nurture our country’s economy and business culture. We have put together a timeless celebration in which we will embrace Botswana’s achievements since its sovereignty gain. It is a way of saying; this is how Botswana got to where it is now,” Habangana said.

Most importantly, the publication will also sell Botswana as the best destination for doing business as narrated by Chief Executive Officers CEOs, Industry Executives, Entrepreneurs and Corporate Executives.

On his part, Assistant Minister of Trade and Industry Sadique Kebonang said “The publication comes as a way of selling Botswana as a country. It is a way of enhancing our business literature, also a way of employing the public sector. We promise improvement with years to come,” Kebonang commented.  

Botswana had very little economic and industrial resources when it attained its independence. However, through prudent management of its national economy and natural resources, the country has managed to realise massive economic development, industrialisation and citizen economic empowerment that have over the years earned it the tribute of a shining example of democracy in Africa.  

RELATED STORIES

Read this week's paper