Pension funds back economic shift

The country's pension funds, valued at over P166 billion, have been eyed by policymakers as a possible driver of economic growth if channelled to domestic assets to support the country's economic plans. Recently, during the Botswana Pensions Society (BPS) Annual Congress, policymakers reiterated this notion, highlighting the imperative role pension funds can play in unlocking economic diversification.

Delivering remarks on behalf of the Vice President and Minister of Finance, Permanent Secretary Gape Kaboyakgosi said Botswana’s economic model is at a turning point. Whilst the diamond-led growth model has delivered stability for decades, he said diversification has slowed, with unemployment and inequality rising, making it urgent for the country's diversification drive to find alternative financing models.