A dip into the BCP’s proposed high-wage economy
Spira Tlhankane | Tuesday October 8, 2024 12:01
The BCP says what is concerning is the growth rates of investment, productivity, external competitiveness, and the economy in general, have fallen drastically short of the levels required. As a result, the BCP says it aims to address unemployment, stagnating wages, poverty, and economic exclusion if it wins the elections at the end of this month. Furthermore, in the manifesto, the BCP has said that it will initiate reforms towards building a high-performance economy that creates an average of 60, 000 good jobs a year and expands opportunities. The party says that it proposes a climate-sensitive high-wage economy that works for all generations. Among its key promises ahead of the General Election on October 30, the BCP has indicated that it offers an economy that sustains a living wage of P4, 000 per month by 2029; 300, 000 new jobs by 2029, and a job in every household by 2029 to eradicate abject poverty. Moreover, the BCP says that it will make available an expanded modern and efficient infrastructure network across sectors, with universal access to high-speed internet connectivity as a fundamental human right.
Further, key pledges for the BCP include reclaiming exported jobs through movement up value chains, and a redefinition of the tourism product to maximise and domesticate value. “We will build an economy that works for all - a competitive, diversified, and resilient economy whose growth is rapid, inclusive, and sustainable. Botswana deserves, and should have, an economy that grows at a sustained and broad based 6-8% per annum in real per capita GDP terms and creates secure good paying employment at an average annual rate of 60, 000 between 2025 and 2029,” reads part of the manifesto. The BCP says the economy it wants will be driven by enterprise, in both the private and public sectors; investment and trade; globally competitive human capital; quality infrastructure, including high-speed internet connectivity and efficiency-enhancing technology and productivity growth. “We want an economy that creates enough decent jobs for citizens to afford three nutritionally adequate meals a day, decent housing, clothing, health, education, and savings for investment and to manage life-cycle risks. We are far from this ideal. The economy is not working for Batswana. The situation of the youth, poor people, workers, women, children, the elderly, people living with disabilities and rural dwellers tells a sad tale of economic exclusion and poverty amidst plenty,” the BCP further states in the manifesto.
The party, led by Dumelang Saleshando, highlighted that its most urgent task is to build a dynamic, competitive, and future-compliant economy that works for all within and across generations, in harmony with the natural environment. “We will abandon Botswana’s resource-dependent and government-driven development model in favour of one that leverages the transformational powers of enterprise, creativity, innovation, technology, and a capable state to build a diversified private sector-led high-performance economy,” says the party. The party added that an inclusive economy is not only about shared prosperity but also a matter of national security. The BCP pointed out that joblessness and poverty are threats to peace and stability no wonder it wants an economy that is a job machine. The BCP said they will invest more in education because a country that educates its people well and accumulates quality human capital should be made up of a diverse pool of artisans and professionals with competitive industry, relevant knowledge, skills, competencies, behaviours, and experience.
The BCP added that education raises economy-wide productivity and competitiveness, which in turn drive investment, growth, employment, and wealth creation.