Gaolathe warns against costly project failures

Presenting the 2026/2027 Budget Speech earlier this week, Gaolathe said repeated cost overruns, inflated budgets, and poor project execution had in the past undermined development outcomes and eroded public confidence in government institutions. He said a comprehensive review of major projects had revealed unacceptable inefficiencies, particularly under the development manager (DM) model, which was introduced in 2023 to improve project delivery and coordination. These are not ordinary times.

Yet, history reminds us that this nation has navigated difficult waters before and did so by clinging firmly to the principles of prudence and macroeconomic stability. From independence in 1966, Botswana chose a path few resource-rich countries managed to sustain. Diamond revenues were not treated as windfalls for reckless expansion, but as capital to be managed with caution. The establishment of fiscal rules,…