Wednesday, July 24, 2024

Private sector wages stagnant while public sector’s grow

It should be good news that post-Covid, Botswana’s economy performed the strongest in the SADC region but four years later, the windfall has yet to reach the private sector.

“The economy rebounded strongly in 2021, driven by a rebound in mining and increases in trade while access to services improved. Yet, private sector wages remained flat while public sector wages grew, widening the gap,” says the World Bank in its most recent Poverty and Equity Brief edition for Southern and East Africa.

Continentally, Southern Africa economies were the hardest hit by the pandemic, contracting by 6.0 percent. Naturally, that contraction had a detrimental effect on Botswana’s economy. Analysis by the African Development Bank (AfDB) shows that Southern Africa would experience the largest recovery at an estimated growth of 4.2 percent in 2021. At 12.5 percent, Botswana’s recovery was the strongest in the region.

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