P3.7 billion debt bombshell shakes Boko government

Boko said some of the outstanding bills date back to 2018, emphasizing that the government’s initial efforts have focused on stabilizing public finances before accelerating development programs. Addressing delegates at the Botswana National Front (BNF) National Conference in Jwaneng over the weekend, Boko said criticism of his government’s slow pace ignored the financial burden inherited at the start of their term. “We have had to clear, up to now, about P3.7 billion of old invoices, some of them from as far back as 2018.

So when you complain that you are not seeing any serious movement on the dial, understand that that movement of the dial is being undermined by the debt that we have inherited,” Boko said. The President argued that inherited liabilities have constrained the government’s ability to immediately redirect resources toward new programs, insisting that clearing old obligations was necessary to restore confidence in public finances and ensure sustainable spending. However, he stressed that a forensic audit should not be mistaken for a criminal investigation, explaining that while audits identify suspicious transactions and governance weaknesses, law enforcement agencies must conduct investigations to establish criminal responsibility.

According to Boko, criminal investigations require tracing financial transactions, following money trails, and identifying assets linked to possible wrongdoing before prosecution can take place. The President also challenged traditional measures of economic success, arguing that government performance should not only be judged through financial statistics but by whether ordinary citizens experience improved living conditions. “An economy is not columns in a ledger.

[paywall]

It is whether a mother in some far-flung village or little hamlets can afford school shoes for their child,” he said. Boko maintained that economic growth must translate into employment opportunities, improved household incomes, and better living standards, particularly for young people facing unemployment challenges. He further defended public sector wage increases despite fiscal pressures, saying workers needed support during difficult economic conditions.

“Growth that does not reach the kitchen table is not growth we can be proud of,” Boko said. However, transparency will be key. Citizens are likely to demand clarity on where the P3.7 billion was owed, which institutions accumulated the debts, who benefited from the payments, and whether any officials will face consequences if wrongdoing is discovered. Without visible accountability measures, the audit risks being viewed as a political exercise rather than a genuine governance reform initiative.

[/paywall]