Since taking office in November 2024, President Duma Boko has made economic diversification the cornerstone of his administration, encapsulated in his now-famous phrase: « protect the goose that lays the golden eggs while opening new paths. » This represents a vital challenge for a country where diamonds have historically accounted for the bulk of export revenues, yet where the existing model is increasingly showing its limits.
The threat is twofold. On the one hand, diamond production fell by more than 43% in 2024, leading to a contraction of the national economy by nearly 3%. On the other hand, the rising prominence of synthetic diamonds is steadily eroding the value of natural stones on international markets, weakening the historic partnership between the Botswana state and the De Beers group.
Facing this dual shock, Duma Boko outlined, in his inaugural address, the contours of an economic « Second Republic. » Therapeutic cannabis and industrial hemp feature among the priority sectors, alongside an ambitious solar energy program aimed at reducing the country’s dependence on electricity imports. Tourism—particularly high-end ecotourism leveraging the landscapes of the Kalahari and the Okavango alongside cattle farming, complete this diversification foundation.
The government has also launched a citizenship-by-investment program designed to attract foreign capital into housing, renewable energy, and financial services. Complementing these efforts is a technological gamble: an agreement with Starlink to extend Internet connectivity across the entire territory, and the launch in March 2025 of Botswana’s first satellite, BOTSAT-1.
This strategy unfolds within a demanding social context, marked by persistent youth unemployment and growing climate pressures on food security. For President Boko, diversification is therefore not merely a cyclical response to the diamond crisis; it is presented as a condition for Botswana’s economic sovereignty in the decades to come.
