Global headwinds weigh on economy

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Botswana is feeling the brunt of a weak global economy, which has been characterised by soft commodity prices, an economist has said.

Speaking at an economic dialogue hosted by Business Botswana and BIHL in Gaborone recently, research manager at First National Bank of Botswana (FNBB), Moatlhodi Sebabole said Botswana is facing not only lower growth but also a budget deficit driven mainly by the downturn in global diamond market. “High rough diamond prices, difficulty in access for financing for sightholders and lower demand for diamonds has affected diamond sales and revenue, thus resulting in increased likelihood of budget deficit,” said Sebabole.

According to the researcher, another headwind comes from the drought, which he said has resulted in weak performance of the agriculture sector.

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This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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