Economy grew 11.4% in 2021, fastest since 1989
Friday, May 13, 2022 | 2320 Views |
High hopes: Finance minister, Peggy Serame expects the economy to expand by 4.3 percent this year PIC: PHATSIMO KAPENG
Figures provided by Statistics Botswana recently indicate that diamonds anchored growth last year, as both resurgent demand for the precious stones and relaxed border movements helped the sector’s performance.
“Diamond Traders recorded a massive growth of 78% as opposed to a decline of 36.7% recorded in the previous year,” Statistics Botswana researchers said in an update.
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...