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BDC partners with AfDB to accelerate Botswana’s economic transformation

Botswana Development Corporation (BDC) and The African Development Bank (AfDB), on the 21st of February 2020, signed a thematic Line of Credit (LoC) of P900 Million for a 10-year tenor. This is the single largest transaction of its nature to ever take place in Botswana demonstrating confidence in the BDC business and strategy.

 The LoC will support the Corporations’ long-term strategy to scale up its investments in key sectors including manufacturing, transport and service sectors with the overall objective of supporting the transformation and industrialisation of the Botswana economy. With this partnership, comes a wider socioeconomic benefit including attracting investments into the economy and employment creation.

The African Development Bank is a multilateral development finance institution with an overarching objective to spur sustainable economic development and social progress in its regional member countries (RMCs) through mobilizing and allocating resources for investment and providing policy advice and technical assistance to support development efforts.  

This transaction further supports BDC’s focus on safeguarding its balance sheet to ensure financial sustainability whilst fulfilling its mandate as the Botswana Government’s main investment arm. Over its just ended 5-year strategic period, BDC has successfully transformed and driven exceptional results as evidenced by P700Million growth in the net-worth of the business to an impressive P2 Billion, cumulative profits of P1 Billion and an asset base growth to P4.8 Billion among others.

Looking ahead, BDC has solidified a bold new direction bed rocked upon maximising long-term value for the shareholder and creating sustainable wealth for future generations by deeply integrating Botswana into the global economy, through investments and such partnerships. The Corporation is upbeat as it looks to apply the skill and future-focused thinking approach to significantly contribute to the Vision 2036 ambition for Botswana to become a high-income and export-led economy.

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Ministers key to Masisi presidency revealed

7th December 2021
President Dr Mokgweetsi Masisi

President Dr Mokgweetsi Masisi has identified at least 12 cabinet ministers who form part of his long-term plans owing to their loyalty and tenacity in delivering his vision. Masisi, who will see-off his term in 2028 — provided he wins re-election in 2024 — already knows key people who will help him govern until the end of his term, WeekendPost has learnt.

Despite negative criticism towards ministers from some quarters over a number of decisions and their somewhat cold deliberations and failure to articulate government programs, Masisi is said to be a number one cheer leader of his cabinet. He is said to have more confidence in his cabinet and believes going forward they will reach the aspired levels and silence the critics.

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Free at last: Ian Kirby Speaks Out

6th December 2021
Justice Ian Kirby

The outgoing President of the Court of Appeal, Justice Ian Kirby, shares his thoughts with us as he leaves the Bench at the end of this year.

WeekendPost: Why did you move between the Attorney General and the Bench?

Ian Kirby: I was a member of the Attorney General’s Chambers three times- first in 1969 as Assistant State Counsel, then in 1990 as Deputy Attorney General (Civil), and finally in 2004 as Attorney General. I was invited in 2000 by the late Chief Justice Julian Nganunu to join the Bench. I was persuaded by former President Festus Mogae to be his Attorney General in 2004 as, he said, it was my duty to do so to serve the nation. I returned to the Judiciary as soon as I could – in May 2006, when there was a vacancy on the High Court Bench.

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Civil society could rescue Botswana’s flawed democracy’ 

6th December 2021
Parliament

Botswana’s civil society is one of the non-state actors that could save the country’s democracy from sliding into regression, a Germany based think tank has revealed.  This is according to a discussion paper by researchers at the German Development Institute who analysed the effects of e-government usage on political attitudes In Botswana.

In the paper titled “E-government and democracy in Botswana: Observational and experimental evidence on the effects of e-government usage on political attitudes,” the researchers offer a strongly worded commentary on Botswana’s ‘flawed democracy.’  The authors noted that with Botswana’s Parliament structurally – and in practice – feeble, the potential for checks and balances on executive power rests with the judiciary.

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