Botswana: Expert Advises Lowering Labour Costs to Diversify

Johannesburg — A leading economist has advised commodity-dependent countries like Botswana to diversify their economies to sectors like manufacturing by lowering their labour costs and weakening currencies.

Speaking at the Third Standard Bank Africa Media Forum, the Chief Economist of Africa's largest bank by market capitalisation, Goolam Ballim, said the continent should emulate China which has a thriving manufacturing sector because of its weak yuan and cheap labour.

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