Archive for January 25th, 2010
25 January, 2010
LETLHAKANE – Minister of Local Government, Mr Lebonaamang Mokalake has informed residents of Letlhakane that government has come up with initiatives to boost economic growth.
Mr Mokalake, who is also Boteti South MP said this during a kgotla meeting in Letlhakane recently.
He explained that one of the initiatives that government has come with is the creation of hubs to create employment.
These include one that intends to turn Botswana into a medical hub. It will attract specialists to Botswana to reduce many cases of referrals to South Africa, adding that Princess Marina Hospital was a step ahead having performed the first heart surgery in the country.
The MP also stated that the technology hub which has also started operating would manufacture electronic equipment such as cell phones, computers and laptops to create employment opportunities for the youth.
He said they also intend to promote foreign direct investment, focusing on mining, tourism, agriculture and [continue reading]
They may have transformed Botswana from one of the poorest countries in the world at independence to a middle income economy, but many would be shocked at the revelations that the returns Botswana derived from the diamonds under the De Beers arrangement of 40 years were just a drop in the ocean, less than one percent of the total world diamond returns.
Until they entered into a new and revolutionary agreement with De Beers diamond company around 2006, Botswana’s diamond returns were equivalent to just one percent of the world diamond trade valued at US 67 billion.
The founding coordinator of Botswana Diamond Hub, Dr Akolang Tombale, reflecting on his legacy as both the founding coordinator of the diamond hub, and the Permanent Secretaryin the Ministry of Minerals, Energy and Water Affairs, told Mmegi in a wide ranging interview yesterday that Botswana used to get only $3bn from the world diamond industry.
” It was in fact less than one percent. That is why there was that feeling that [continue reading]