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Why Has The Economic Crisis In Sub Sahara Africa Countries Persisted For Decades After Their Independences? How Can They Solve The Crisis? What Le

1182 words - 5 pages

Botswana is a landlocked country with a population of 1.8 million. In 1966 after its independent, the former colonialists of Bostwana, the British predicted that the country is politically weak and that it would for many decades to follow be dependent on International Aid (porter report). However, after few decades, Bostwana is considered a successful African story with one of the highest per-capita growth in the world, a good infrastructure, an increasingly educated population and a functioning institution. Some may be quick to dismiss small successful stories such as Botswana, but the reality is that most African countries face similar challenges since their co-parallel independence in ...view middle of the document...

This project created more 13000 jobs since its creation in 2000. They are keen to increase the Agricultural sector in order to decrease the high cost of food import from South Africa
Botswana has a young workforce with 68% of population under 30 ( Council). Thus the government has doubled its public expenditure on social programs especially education since 1997. In 2008, 20% of government Budget was allocated to the ministry of education, making it biggest expenditure for the government. The finance minister Gaolathe emphasis ‘the importance of education to improving the country’s competitiveness’. 15% of graduates are in science and technology fields, as a result they are building their first medical school and university of science and technology.

Botswana even with its many successes still has faces problems. First, their biggest revenue and FDI is from mining. Issues have been raised as the revenue from mining in the country is expected to start decreasing in 2017. The country needs to diversify its exportation.

Botswana Struggles with fleeding refugees from neighboring countries. Zimbabwe immigrants alone are counted between 2-3 hundred thousand. This added to a still high unemployment of 17.5% will soon be a bigger issue if not addressed now. Also, with South Africa, a very competitively advantageous neighbor, it is doubtable if Botswana can keep its legacy as a successful African story for long. Botswana can be a role model to other SSAC because its success is fundamentally based on a solid and consistent government. It shows how essential good governance is to economic growth.

‘Peace is the first condition of successful development. We support Africa’s efforts to build a peaceful and stable Africa. We will help Africa’s fragile states to emerge successfully from crisis and conflict. We support African initiatives to prevent, mediate and resolve conflicts and consolidate peace, in the spirit of the UN Charter’ G8 Gleneagles communiqué 2005. Good governance enhances democracy and efficiency in the economy. A stable government signals to the private sector that it is committed to stabilizing the economy and it enhances their trust in the macro-policies. So, how the government delegate economic growth?

One school of thought, the Endogenous growth model notes that governments that invest heavily in valuable public consumption such as education, complimented with private sector’s efforts will have a higher payoff in the future and see a growth in its real income per capita. This kind of investment boosts personal freedom and a chance to escape poverty. It is a way to improve productivity of both recipients and the society as a whole. Therefore, policies that encourage public and private sector investment in human capital will alternatively add...

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