Wednesday, June 12, 2024

Khama espouses economic strategies

Government says that the emerging opportunities in mining and beneficiation in other minerals has resulted in the establishment of the Mineral Development Company.

Furthermore, the government is hopeful that these two initiatives will enable and create further opportunities for the private sector.

Addressing the 37th meeting of the High Level Consultative Council (HLCC) on Thursday, President Ian Khama admitted that the government power station, Morupule B, which for quite some time has been struggling to operate at full capacity and has of recent experienced breakdowns, had prompted the government to source power from the SADC power pool.
“This is a sensitive area that supports the daily industrial and business operations in the economy,” said Khama.

He believes that in that context, to curb energy deficits and to enhance national energy security, government continues to find ways of diversifying the resources of clean energy production of quality and at a lower cost. He added that government shall therefore continue to explore renewable energy sources.

Regarding the challenges with the provision of water, he said it has had abated largely because of the replacement of the damaged pipes on the North – South Carrier (NSC).Khama stated that to further improve the water situation, Government is constructing the second pipeline from Moralane to Mmamashia water treatment plant which is intended to supply water to other areas.
“On energy, government recently established the Botswana Oil Company to ensure a continual and secure supply of petroleum products,” he said.

He further stated that the strategic storage facility at Rasesa will be used to store both strategic and commercial stocks as well as serve as a future cross border fuel supply terminal.

He also believes that to this end it is the commitment of the government to continue embarking on reforms to improve service delivery to the nation. Khama stated that in the last meeting he indicated that cluster development has been adopted as a pragmatic strategy to achieve economic diversification. He further believes that this strategy will promote and enhance non-diamond sectors to be reliable sources of export-led economic growth and employment creation for this country.

He said as government, they have endeavored to diversify the economy by promoting growth of the non-diamond sectors. He added that there is significant scope for Botswana to enhance export oriented value chains within sectors such as beef, financial services, tourism and other minerals to address the existing socio-economic challenges and improve the competitiveness.

“The need to improve integrity and transparency in business is a key element towards improving citizens’ and investors’ perception of the Botswana business climate,” he said.


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