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Afreximbank proposes P20bn economic support package

High level: Masisi and Oramah at the Global Expo official opening on Wednesday PIC: BW PRESIDENCY FACEBOOK
High level: Masisi and Oramah at the Global Expo official opening on Wednesday PIC: BW PRESIDENCY FACEBOOK

The African Export-Import Bank (Afreximbank) has proposed an economic support package of $1.5 billion (P20 billion) to the Botswana government and its private sector entities, for rolling out over the next three years, BusinessWeek has learnt.

Afreximbank president and chair, Benedict Oramah made the announcement on Wednesday while sharing the stage with President Mokgweetsi Masisi during the launch of the Global Expo Botswana.

The offer marks the first time the pan-African trade bank could potentially partner directly with government, as its previous deals in the country have been limited to private sector support.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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