Lessons from Botswana’s economic success Essay Example

in prosperous African nations such as Botswana and Mauritius. These stereotypes are often derived from movies or infomercials that portray poverty and suffering, causing Westerners to overlook the active efforts towards economic development taking place in many countries on the continent.

Botswana has chosen a unique path towards progress, unlike other African countries that rely on Western guidance and aid. However, this approach has not yielded positive results in terms of improvement. To tackle this issue, there are suggestions to foster an entrepreneurial culture among Botswana nationals as a means of achieving economic development. In response to these suggestions, the government has implemented various initiatives and organizations aimed at providing support to small and medium-sized businesses.

Among these organizations is the National Entrepreneurial Development Office, which offers assistance to small business owners through low-interest loans and mentoring services. Since its establishment in 2000, this office has successfully created thirteen thousand jobs. Nevertheless, it should be acknowledged that job creation comes with significant costs.

According to an independent expert's survey, the organization has a low advancement gathering rate of only 47 percent. The survey recommends prioritizing support for projects in agriculture, manufacturing, and tourism instead of retail and services. Critics argue that fostering entrepreneurship requires long-term planning and cannot be accomplished solely through a low-interest loan program.

References

• Acemoglu, D., Johnson, S., & Robinson, J. A. (2002). An african success story: Botswana.
• Fosu, A. K. (2013). Achieving development success: Strategies and lessons from the developing world. Oxford University Press.