• CHOPPIES VACANCY – ASIAN CHEFAugust 20, 2025
    ASIAN CHEF Description: RelatedPosts CHOPPIES VACANCY – ASIAN CHEF BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR Bank of Baroda- Recruitment We are seeking an experienced Asian Chef with expertise in Chinese, Indian, and fusion cuisine. The ideal candidate will… Read more: CHOPPIES VACANCY – ASIAN CHEF
  • BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISORAugust 20, 2025
    Botswana Development Corporation is looking for dynamic, zealous, and qualified individuals to submit application for the following positions. FACILITIES OFFICER RelatedPosts CHOPPIES VACANCY – ASIAN CHEF BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR Bank of Baroda- Recruitment Reporting to… Read more: BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR
  • Joint news conference by the President of Russia and the President of the United StatesAugust 20, 2025
    RelatedPosts Joint news conference by the President of Russia and the President of the United States Gaborone poised for economic transformation 5+1 Cooperating Trade Unions boycott DPSM Meeting because of BLLAHWU Presence
  • Gaborone poised for economic transformationAugust 20, 2025
    GCC, BSE signMOU for issuance of municipal bonds Municipal bonds expected to ease financial burden on Govt GORATAONE KGOSIMORE editors@thepatriot.co.bw RelatedPosts Joint news conference by the President of Russia and the President of the United States Gaborone poised for economic transformation Botswana Mining Show coming   … Read more: Gaborone poised for economic transformation
  • Botswana Mining Show coming August 20, 2025
    KITSO RAMONO editors@thepatriot.co.bw RelatedPosts Gaborone poised for economic transformation Botswana Mining Show coming  5+1 Cooperating Trade Unions boycott DPSM Meeting because of BLLAHWU Presence   Progressive Institute, a diversified enterprise with interests in mining, human resources, leadership development, transport,… Read more: Botswana Mining Show coming 
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Saturday, August 23, 2025
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Inequality, unemployment impede growth – BoB

patriot by patriot
January 25, 2021
in Business
240
0
491
SHARES
1.4k
VIEWS
ShareShareShare

Governor of Bank of Botswana (BOB) Moses Pelaelo has decried high unemployment and income inequality levels in Botswana, saying they were impeding economic growth and denying the country the chance to attain high income status.

Pelaelo called for robust structural transformation of the economy to curb factors hindering economic growth. He said this Tuesday when unveiling the 2018 BoB Annual Report.  

RelatedPosts

Botswana Mining Show coming 

StanChart upbeat on CIB transition

BOSETU disburses P2 million bursaries

He said growing the private sector and expanding non-mining sector – especially agriculture – remained a key measure of growth prospects.

In addition, Pelaelo said a study by International Monetary Fund (IMF) on “Growth in Southern Africa: Issues and Reform Options” singled out three factors that continue to detract from growth prospects and transition to high-income status.

He said the first factor is lacklustre relative export performance and tradable sector. In contrast to countries that attained middle income status rapidly in Latin America and South East Asia for example, for Botswana, he said, the private sector’s performance declined as a share of the country’s GDP over recent years.

“The second factor relates to the low or declining total factor productivity, encompassing land, capital and labour. The third impediment factor is relatively large public sector including state-owned enterprises, with the resulting sub-optimal delivery of services, compared to middle-income peers,” he added.

According to Pelaelo, in order to sustain medium to long term prospects for the economy, diversified, inclusive growth, and transition to high–income status, policy should focus on raising potential growth through fiscal reforms.

“Inclusive economic growth is necessary by investing on infrastructural development; enhancing strong financial sector for funding businesses will assist in upgrading current volatile source of revenue being mining and SACU. There is a potential for economic growth which yield more employment opportunities going forward,” Pelaelo said.

No stolen funds

BOB Governor said there is no misappropriation of funds at the central bank as per some recent media reports. He said BOB is not audited by the Auditor General but is currently audited by KPMG in five years contract term.

Director of Research and Stability at BOB, Dr Tshokologo Alex Kganetsano urged the country to consider new financing strategies for industrialisation so as to fully attain high income status.

New financing strategies

Presenting the 2018 BOB annual report theme chapter titled “Financing Strategies for Industrialisation and Transition to High Income Status’’, he said the main sources  of revenue being minerals and Southern Africa Customs Union (SACU) need to be diversified.

Dr Kganetsano said Botswana should look into other financing options such as regional banks such African Development Bank (AfDB) as well as international financiers like the International Monetary Fund (IMF).

“Liberalisation of domestic markets for deliberate attraction of FDI in high technology driven sectors by using tax incentives and subsidised direct government funding model is common in countries such as Brazil and Singapore; hence Botswana can also adopt this model of funding to grow the business sector,” he charged.

He said the financing gap in Botswana remains high with weak funding capacity by the Development Finance Institutions (DFIs) such as commercial banks and state-owned enterprises such as CEDA amongst others.

As a result, he said Botswana becomes less competitive in the global economy due to limited access to funding by the possible drivers of economy such as the Small Medium and Micro Enterprises (SMMEs).

Giving financial results and operations of the bank in 2018, Chief Financial Officer Daniel Loeto said global economic activity was modest at 3.7 per cent growth in 2018 compared to 3.8 per cent in 2017, reflecting a slower pace of increase in global market.

He said the bank reached the net income of P2.9 billion in the previous year; reflecting a growth from the P739.5 million in 2017.

Related

Tags: BoB

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

BNF, BCP unite in North West

Next Post

‘There’s no weaker gender’

Related Posts

Botswana Mining Show coming 
Business

Botswana Mining Show coming 

August 20, 2025
StanChart upbeat on CIB transition
Business

StanChart upbeat on CIB transition

August 19, 2025
BOSETU disburses P2 million bursaries
Business

BOSETU disburses P2 million bursaries

August 15, 2025
Letshego’snet advances hit P14 billion
Business

Letshego’snet advances hit P14 billion

August 13, 2025
Sefalana rakes in P11.2 billion
Business

Sefalana rakes in P11.2 billion

August 4, 2025
REVITALISING OODI WEAVERS
Business

REVITALISING OODI WEAVERS

July 29, 2025
Next Post
‘There’s no weaker gender’

‘There’s no weaker gender’

Please login to join discussion
  • CHOPPIES VACANCY – ASIAN CHEFAugust 20, 2025
    ASIAN CHEF Description: RelatedPosts CHOPPIES VACANCY – ASIAN CHEF BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR Bank of Baroda- Recruitment We are seeking an experienced Asian Chef with expertise in Chinese, Indian, and fusion cuisine. The ideal candidate will… Read more: CHOPPIES VACANCY – ASIAN CHEF
  • BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISORAugust 20, 2025
    Botswana Development Corporation is looking for dynamic, zealous, and qualified individuals to submit application for the following positions. FACILITIES OFFICER RelatedPosts CHOPPIES VACANCY – ASIAN CHEF BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR Bank of Baroda- Recruitment Reporting to… Read more: BDC VACANCY- FACILITY OFFICER & BUILDING SUPERVISOR
  • Joint news conference by the President of Russia and the President of the United StatesAugust 20, 2025
    RelatedPosts Joint news conference by the President of Russia and the President of the United States Gaborone poised for economic transformation 5+1 Cooperating Trade Unions boycott DPSM Meeting because of BLLAHWU Presence
  • Gaborone poised for economic transformationAugust 20, 2025
    GCC, BSE signMOU for issuance of municipal bonds Municipal bonds expected to ease financial burden on Govt GORATAONE KGOSIMORE editors@thepatriot.co.bw RelatedPosts Joint news conference by the President of Russia and the President of the United States Gaborone poised for economic transformation Botswana Mining Show coming   … Read more: Gaborone poised for economic transformation
  • Botswana Mining Show coming August 20, 2025
    KITSO RAMONO editors@thepatriot.co.bw RelatedPosts Gaborone poised for economic transformation Botswana Mining Show coming  5+1 Cooperating Trade Unions boycott DPSM Meeting because of BLLAHWU Presence   Progressive Institute, a diversified enterprise with interests in mining, human resources, leadership development, transport,… Read more: Botswana Mining Show coming 
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?