Botswana eyes $17bn US fund
Friday, May 17, 2024 | 630 Views |
Reaching out: The Finance Ministry is finalising a medium term debt strategy, which will outline the country’s plans for loans and similar products
Speaking to BusinessWeek during the recently ended US-Africa Business Summit held in Dallas, Texas, a highly placed MCC insider said Botswana has applied to be a beneficiary of the MCC, as part of efforts to revive barren sectors and state-owned entities.
Botswana’s application comes as the country doubles down on selling its story as an investment hub for international financiers and corporations.
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...