GABORONE, March 25 — The Private Sector Development Strategy was launched Thursday in Gaborone, the capital of Botswana, to foster a private sector-led, export-oriented, high-income economic model. The new strategy plan will guide the private sector development for the next four years, from 2025 to 2029, by diversifying the economy, developing value chains, increasing the competitiveness of local companies, expanding export capacity, and strengthening the role of the private sector in driving economic growth, according to Business Botswana, a private sector organization in the southern African country. The launch of the strategy seeks to position the private sector as the engine of economic growth and diversification in Botswana, focusing on both current and future opportunities, said Neo Nwako, president of Business Botswana. Olebile Makhupe, managing director of Bank Gaborone, underlined the launch of the program as a call to action for the private sector to take a leading role in shaping the economic landscape, not only by implementing this strategy, but also by championing initiatives that drive national progress. “The African Development Bank (AfDB) stands ready to work with the government of Botswana and private sector investors to provide much-needed financing through both sovereign and nonsovereign lending,” said John Ng’ambi, senior analyst at the AfDB. The new program is estimated to require over 74 million Botswanan pula (about 5.42 million U.S. dollars).
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