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P45 billion kitty for private sector

patriot by patriot
January 17, 2021
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P45 billion kitty for private sector
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The Minister of Finance and Economic Development Kenneth Matambo says the government has identified the private sector as an engine for economic growth; hence they found it necessary to boost the private sector.

Matambo was briefing the media on the 2019/20 Budget on Thursday. He said they have set P45 billion aside for the private sector to ensure that it reignites the economy and leads in job creation as well as diversification of the country’s economy.

“We have emphasised before that the private sector should be leading the pack in in transforming the country’s economy through robust ways; with one of those being through the private business sector. This money is set aside to be disbursed into the private sector for it to grow as this will lead to massive job creation as well,” he added.

He said amongst other strategies that the government will be implementing to further facilitate the private sector to flourish is providing infrastructure, putting in place good fiscal monetary policies for the ease doing of business. Matambo said his ministry will partner with the Ministry of Investment, Trade and Industry on executing the disbursement of the money.

Matambo noted that the government is doing its part as far as engaging the private sector noting that the government meets the private sector at the High Level Consultative Council, a forum where they share ideas on influencing business prospects.

“The private sector has not been robust as it should be; hence the domestic economy is still considered to be doing far below its potential on the open economy context of Botswana. There is a need for the sector to lead in export diversification driving to possible export market expansion,” Matambo charged.

Quizzed on how the private sector business entities will effectively have access to the money, Matambo revealed that the tendering process will be implemented allowing businesses to bid and get the jobs. 

“The money is available for the private sector and the government will disburse the money through procuring goods and services from the private sector. Moreover, the Public Private Partnership (PPP) framework will also be very key in ensuring the implementation or the success of spending the money in the private sector,” said minister Matambo.

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  • Skelemani mishandled Kgosi Mosadi Pan African Parliament furoreMarch 22, 2023
    Adam Phetlhe The ravaging inferno sparked by the purported resignation of Kgosi Mosadi Seboko from the Pan-African Parliament (PAP) is fuelled by the Speaker of the National Assembly, Phandu Skelemani mishandling the matter. Had he performed due diligence on […]
  • Ithuba to roll-out LottoMarch 22, 2023
    STAFF WRITERS editors@thepatriot.co.bw Ithuba Solutions Botswana is waiting with bated breath for an announcement on the issuance of a lottery license, by the Gambling Authority, following the successful conclusion of negotiations in December 2022, The Patriot on Sunday has […]
  • BDP rejects Living WageMarch 22, 2023
    BAKANG TIRO editors@thepatriot.co.bw Ruling Botswana Democratic Party (BDP) MPs on Friday defeated the motion proposed by MP for Nkange constituency Dr Never Tshabang, proposing for government to introduce a living wage, which will be adjusted according to the cost […]
  • Uganda passes a law making it a crime to identify as LGBTQMarch 22, 2023
    Report by Elias Biryabarema Reuters Uganda’s parliament passed a law on Tuesday making it a crime to identify as LGBTQ, handing authorities broad powers to target gay Ugandans who already face legal discrimination and mob violence. More than 30 […]
  • Ian Khama to receive African Icon Award  March 22, 2023
    KT Press Former Nigerian President, Dr. Goodluck Ebele Jonathan will headline other African greats who are set to be honoured at the maiden edition of The African Heritage Concert and Awards slated to hold in Kigali, Rwanda on April […]
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