VICE PRESIDENT AND MINISTER OF FINANCE NDABA GAOLATHE LOOKS TO AFRICAN DEVELOPMENT BANK FOR SUPPORT

Article By: Gilbert Manenye

The Vice President and Minister of Finance Ndaba Gaolathe is reported to be holding talks with the African Development Bank (AfDB) to secure support for the acceleration of the Botswana Economic Transformation Programme (BETP).

Gabz FM Reporter Phenyo Babusi with more details…

According to a statement from the Ministry of Finance, Gaolathe is currently in Abidjan, Côte d’Ivoire, where he will be holding bilateral talks with the African Development Bank president Dr Sidi Ould Tah.

The discussions are focused on expanding technical support, capacity building and innovative financing solutions to drive Botswana’s diversification and export led growth agenda under the BETP.

The economic transformation programme, which includes a portfolio of about 200 mostly private sector-led investment projects, aims to reduce Botswana’s reliance on diamonds by promoting investment across sectors such as services, manufacturing, tourism and agriculture under the National Development Plan 12.

Gaolathe and Dr Sidi Ould Tah are also expected to explore collaboration on a proposed Southern African Customs Union (SACU) Industrialisation Fund, following a mandate for Botswana and South Africa’s finance ministers to engage the AfDB on the initiative.