Rationalization of investment policies for Africa's development in the light of experience of Botswana

Abstract

The objectives and strategy behind Botswana's development since independence have been greatly influenced by the state and conditions existing in the economy at the time of independence at independence in 1946. Botswana, with a population of a little over half a million, was considers one of the poorest countries in the world, with an almost complete dependence on the cattle Industry end with the majority of the population involved in traditional subsistence agriculture. The country had virtually no alternative sources of income employment and foreign exchange and the prospect was one of continued poverty and total dependence on British government grant-in-aid to balance its recurrent expenditure, not to talk of development expenditure. Social and economic infrastructure was barely developed and about 30% of the labour force provided a reservoir of cheap labour for the South African mines.