NDP 12’s small missing piece

Friday, January 23, 2026 | 230 Views |

Driving growth: The private sector is taking a greater role in delivering public works PIC: MORERI SEJAKGOMO

NDP 12 and its associated BETP require the greatest injection ever of private capital in the country’s history, running into hundreds of billions of Pula. One small piece is missing and necessary to gain investors’ confidence, writes MBONGENI MGUNI

On paper, the equation appears simple. Pension funds as at October 2025 held more than P166 billion in funds while government has, since 2017-18, been running multi-billion Pula budget deficits.

One side is looking at stable returns for members and another is looking at running the public service and delivering development. There’s a nexus between these two goals, particularly as the members of the pension funds are also the same citizens government serves.

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NDP 12’s small missing piece

NDP 12 and its associated BETP require the greatest injection ever of private capital in the country’s history, running into hundreds of billions of Pula. One small piece is missing and necessary to gain investors’ confidence, writes MBONGENI MGUNI