Only innovation can save Botswana
Mmegi Editor | Thursday February 2, 2017 11:01
No matter how deep De Beers and other mineral explorers look, the minerals will at some point become depleted and during their lifespan, they are exposed to global price fluctuations that have in the past rocked our fragile economy.
It is to government’s credit that the revenues from the mining miracle have been spent in supporting the pillars of a diversified economy, namely the development of primary and secondary infrastructure, investment in education and skills development, as well as the support of critical alternative sectors such as financial services and manufacturing.
The challenge going forward is not only oft-stated, but also self-evident. Chiefly, it is how to leverage on the structures already built into the economy, to propel and sustain growth beyond the minerals sector. In this regard, key lessons – at a smaller scale – can be drawn from the example of India, which diversified its economy away from a near total reliance on agriculture through liberalisation and the prioritisation of Information Technology.
It is not in doubt that going forward, the economy of Botswana will have to be led by knowledge and information, a fact recognised by government’s establishment of various entities, including the Innovation Hub, and supporting investment in IT infrastructure. However, it is critical that more be done in terms of innovation, as a transformative tool to unlock the existing investments in education and IT, and as an anchor of future growth. As stated by one Indian minister, education and innovation do not spoil or run out and they can be uniquely geared to reflect a country’s culture, heritage and aspirations. Innovation may seem unimportant in the face of tangible challenges, but it is desperately needed when one considers the billions of pula spent on poverty eradication and similar interventions. Just yesterday, state owned media reported how the community projects funded from these interventions were struggling, due to “over-competition”. A beneficiary is funded to open a tuck shop or tyre-repair shop, and the whole village turns to the same business! Other economies that have prioritised innovation are now global leaders in process solutions, products, services and have spawned global brands such as Google and Toyota.
Innovation, encouraged early through academic curriculum, and fostered through public and private agencies, funding for research and development, favourable policies and laws, can transform Botswana into a globally-recognised producer of certain goods, services and information. Minerals laid the foundation, the service sector is in place, institutions such as CIPA and BIDPA are ready, infrastructure exists and is expanding, the young population is eager and the opportunities are plenty. There’s no excuse.
Today’s thought
“Innovation distinguishes between a leader and a follower”
– Steve Jobs