Business Botswana is pleased to announce the establishment of the Private Sector Disaster Response Fund (PSDRF), a private sector-led initiative designed to provide rapid disaster response and immediate recovery support during times of crisis. The fund aims to address critical gaps in disaster management by providing agile financial assistance when government funding may be delayed or insufficient.
The PSDRF is specifically structured to fill vital financial voids, ensuring that businesses and communities can respond promptly to natural disasters and other unforeseen emergencies. By enabling the private sector to step in where there may be delays in government intervention, the PSDRF will help mitigate the impact of such disasters and ensure swift recovery for affected areas.
The fund will be managed by an appointed board, ensuring full transparency, accountability, and efficient allocation of resources. Business Botswana will serve as the secretariat, overseeing the fund’s operations and representing the private sector’s collective efforts in disaster response. The board will independently assess and identify beneficiaries, ensuring that resources are allocated where they are most needed. The PSDRF will also work closely with the National Disaster Management Committee (NDMC) to ensure coordinated efforts in disaster response.
The fund’s governance structure will bring confidence to private sector contributors, as it will be subject to independent oversight and auditing, ensuring that all contributions are managed appropriately and used for their intended purposes, maintaining the trust and integrity of the initiative.
In addition to responding to disasters, the fund will undertake proactive measures, particularly in improving early warning systems and impowering local communities to better handle emergencies.
We are excited to launch the PSDRF as part of our commitment to a resilient and proactive economy. This initiative highlights the importance of collaboration between the private sector and government to ensure that our communities can recover as quickly as possible in the face of disasters. By addressing the immediate financial needs in disaster recovery, the PSDRF will contribute to the quicker restoration of services, livelihoods, and businesses, said Mr. Neo Nwako, Business Botswana President.
Members and the private sector are invited to make contributions to the fund. A separate account has been opened for this initiative, and account details will be shared with all stakeholders. In-kind contributions are also welcome.
The PSDRF is committed to acting promptly to help businesses, communities, and the economy recover as efficiently and effectively as possible. Therefore, Business Botswana encourages all private sector entities to engage with and support the fund, ensuring that Botswana’s response to disasters remains robust and resilient.
