26 Jun 2025

President Advocate Duma Boko says it is a fact that the country is facing financial crisis, a result of lack of ingenious ideas to sustain, grow and diversify the country’s revenue sources. 

President Boko said the situation emanated from the dependence on diamonds as the sole driver of the economy. Responding to media questions in an interview on the sidelines of the just ended 17^th US-Africa Business Summit in Luanda, Angola on Tuesday, President Boko said now that the trade in diamonds was at its lowest, the country was faced with the calamity of draining financial coffers. 

Faced with such a situation, he said the country had to regroup, shake off the dust and take advantage of the opportunities presented by digitilisation.  He said the country’s economy would not rise from shambles in an environment where the ease of doing business was mere imagination. He said in a situation where the country was almost bankrupt, it was important to engage with and lure investors with the technological know-how and the financial muscle to do business in the country. 

President Boko said the country must invest in companies that would advance the digitisation drive and by so doing engage digitised system that will curb all financial spillages and insure prudent spending.  The President said Public Private Partnership (PPP) was not just a mere chant, but a potential driver of sustainable growth. 

He said the private sector would bring with them diverse expertise in doing business while government would on the other hand provide an opportunity where their technology would thrive at an affordable rate and help government grow its economy. 

President Boko therefore noted that government was determined to put in place modalities of doing business in a technologically advanced environment by the end of 2025.  He said in challenging circumstances, such as the current position that the country finds itself in, leadership must thrive and do so by engaging in strategies that would help the nation rise and prosper. 

However, the President said what the people must appreciate was that solutions to long-standing challenges could not be put in place overnight. He said dealing with a deep-rooted challenge would take time and strategic measures. 

“What I can assure you without doubt is that, we shall forge a way forward as we have devised formidable strategies to address the challenging environment,” he said. 

The President said a well-defined strategy would take the country from its current thought-provoking state of affairs and accurately place it where it belonged.  Currently, he said what the government was doing was not glorifying challenges and giving up, but rather analysing the situation in order to come up with tangible solutions. 

He said he was not defiant on the target he had set, that government would turn around the country’s fortune in three years.  The nation must hope and trust that the government will deliver on its promise of reviving the country from its current position, he said. ENDS