Rethink development strategy, AFDB urges Botswana

In a Country Strategy Paper (CSP) for the period 2015-2019 approved by the Bank this week, the Tunis based AFDB says there is a need to accelerate the transformation from primary sector-driven economy to advanced manufacturing and services as the country is highly vulnerable to global shocks as evidenced by the 2009 financial crisis.  

In 2009, Botswana borrowed $1.5 billion from the AFDB for budgetary support after diamond revenues were adversely affected by the financial crisis.