Transitional National Development Plan News Today

Finance Minister, Peggy Serame, walks to Parliament on Monday carrying what is likely a significantly higher request for development funding. The Transitional National Development Plan which ends in the coming financial year, requires more than P40 billion but poor implementation continues to haunt the fiscus. Staff Writers, TIMOTHY LEWANIKA, PAULINE DIKUELO & MBONGENI MGUNI report

The business sector in Botswana is optimistic about the year 2024, according to a recent survey conducted by the Bank of Botswana (BoB). The survey collected information from businesses in various sectors, including agriculture, mining, manufacturing, construction, and finance, among others. The results of the survey indicate that businesses expect trading conditions to improve in the first quarter of 2024 and remain favorable throughout the year.

The Banker magazine, a Financial Times publication based in London, has named Peggy Serame Africa’s Finance Minister of the Year, noting her guidance of the economy in a year of turmoil across the continent.

The national budget recorded a P5.2 billion surplus in the first quarter of the financial year, a performance expected to unravel later as the Finance Ministry still expects an overall P5.7bn deficit in the fiscal year.

GABORONE, Dec. 7 (Xinhua) -- Botswana reduced the country's monetary policy rate by 25 basis points from 2.65 percent to 2.4 percent, the country's central bank announced Thursday.

GABORONE, Nov. 23 (Xinhua) -- Botswana aims to support initiatives promoting the growth of non-mining industries, Finance Minister Peggy Serame said Wednesday.

Government plans to build three more flyover intersections in Gaborone – at Molapo Crossing, Airport Junction, and the Block 8 roundabout – as part of a countrywide infrastructure push, President Mokgweetsi Masisi has said.

Botswana’s economic model continues to be excessively reliant on minerals revenue, specifically that from diamond mining. This, combined with the rising

The International Monetary Fund (IMF) has indicated that Botswana’s economic growth is expected to increase by 3.8 percent this year, lower than 5.8 percent recorded in 2022.

A projected decline in diamond production and weaker global environment will weigh on the performance of the economy this year, an update released by the International Monetary Fund (IMF) says.