�eating diamonds� will no longer anchor growth

Botswana will need to expand services and manufacturing to counter depleting diamond resources
Botswana will need to expand services and manufacturing to counter depleting diamond resources

In the past five decades, Botswana has been the beacon of an African success story registering economic growth rates only slower to South Korea and China. Largely backed by a vast endowment of diamonds and investing the proceeds wisely, the country is now an upper middle-income country. But to maintain the current status or move to become a higher income country in the next five decades, BusinessWeek Staff Writer BRIAN BENZA believes that a second transformation is required in the country where ‘eating diamonds’ will no longer be enough to sustain the current growth and income levels

Government has set itself admirable targets of not only graduating to a higher income country status, but has also pledged to weed out the problems of unemployment, poverty, inequality, dependence on government and low household incomes.

Latest available statistics from the World Bank show that Botswana is one of the most unequal countries with an estimated Gini coefficient of per capita consumption OF 0.49 in 2009/10. According to Statistics Botswana (SB), the proportion of the population living below the poverty datum line (PDL) stood at 19.3% in 2009/10.

Editor's Comment
The Boko-led administration has to tread carefully

‘When you make peace withyourself, you make peace with the world’- Maha GhosanandaThis may come at a huge cost if not handled properly. What started off on Labour Day in Letlhakane this year, where Boko was in attendance when the militant lawyer-cum-trade unionist, Robert Rabasimane rebutted the President’s address in defence of the trade union has seemingly spiralled out of control. The issue is now creating a cat-and-mouse type of a...

Have a Story? Send Us a tip
arrow up