Botswana’s ongoing economic challenges require urgent and innovative action from all sectors of society, Acting President Mr. Ndaba Gaolathe said today during the official opening of the 29th edition of the Business Botswana Northern Trade Fair in Francistown. His remarks come at a time when the country’s economy is under significant strain, having contracted by 3 percent in the previous year and projected to shrink further by 0.4 percent in 2025.
Mr. Gaolathe painted a sobering picture of the current landscape, warning that the economic downturn is taking a toll on livelihoods, businesses, and investor confidence. “We are in difficult times,” he said. “Small businesses are struggling to survive, companies are scaling back operations, and entrepreneurs are shelving their ideas—not because they lack ambition, but because they fear the risks outweigh the rewards.”
The Acting President called for a collective response rooted in innovation, resilience, and bold thinking to reverse the downturn. He stressed that Botswana must adopt forward-looking strategies that stimulate growth, create jobs, and support inclusive development. “We must move from the woods,” he said. “This is a time that calls for all of us—government, business, civil society, and citizens—to reimagine what is possible and act decisively.”
The economic contraction has been attributed to a combination of global economic pressures, weakening mineral revenues, and domestic challenges in productivity and infrastructure. As a result, many sectors, especially manufacturing, construction, and small-scale enterprises, have reported reduced activity and profitability.
Despite these headwinds, Mr. Gaolathe remained optimistic about Botswana’s long-term potential. He pointed to the country’s young population, rich natural resources, and strategic geographic position as key assets that can be leveraged through innovation, digital transformation, and public-private partnerships.
The Business Botswana Northern Trade Fair, which draws entrepreneurs, investors, and policymakers from across the country and the region, serves as a platform for economic dialogue, networking, and showcasing innovation. Mr. Gaolathe praised the event for continuing to provide opportunities for collaboration and business growth, even during challenging times.
“We need to turn our trade fairs, our policies, and our platforms into engines of economic renewal,” he said. “By investing in entrepreneurship, supporting small businesses, and embracing technology, we can chart a new path toward sustainable prosperity.”
As the country prepares for what could be another tough financial year, the message from Botswana’s leadership is clear: recovery will require more than resilience—it will demand a national commitment to creativity, partnership, and economic reinvention.
