The once thriving construction industry in Botswana will be revived through an economic stimulus programme, MP Dr Pelonomi Venson-Moitoi has announced.
Dr Pelonomi said the construction sector was one of the areas that the government eyes to stimulate the economy and create jobs. The decision was informed by assessment that showed the economic benefits of boosting the construction industry in the country.
Construction had been badly affected by the economic downturn and the government had to put many projects on hold. Projects that had been shelved will be revived under the new programme.
She also decried the lack of internal roads in the country, and pleaded with the minister responsible to consider constructing them under the economic stimulus programme.
Botswana sees the construction industry as key to providing infrastructure support to the national economy to power the country’s sustained and accelerated modernization drive.
In recent years the country has constructed more sophisticated highways and malls.
A global diamond importer, Botswana now seeks to diversify following an economic downturn. The country now wants to support local industries, namely the economic diversification drive.
Botswana banks have faith in the construction industry lending the country more money through mortgages, in turn deriving benefits in terms of interests on these loans.