IFC seeks ways to support private sector
Tuesday, November 14, 2017
IFC officials considered with business executives, government officials and regulators, development partners and civil society how they work together to better support Botswana’s national development objectives consistent with the World Bank Group’s country strategy.
Sectors covered during the presentations included financial markets, infrastructure, mining, manufacturing, agribusiness. IFC provides investment and advice to promote private investment. Saleem Karimjee, IFC Country Manager for Southern Africa, said: “The private sector is indispensable to development in emerging markets like Botswana, but requires commitment and strategic focus to take advantage of the opportunities. IFC provides financial capital, technical expertise, global experience, and innovative thinking to assist its partners overcome financial and operational challenges.”
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...