23 Jul 2026

Diversification and innovation have been identified as critical vehicles that Botswana can ride on in order to realise meaningful change.

Officiating at the Trade Up North 10th anniversary conference in Francistown on July 22, President Advocate Duma Boko said the critical role of innovation and diversification in reshaping Botswana’s economic landscape could not be over-emphasised.

He said due to the uncertainty facing diamond sales, diversifying the economy away from the mineral was essential to reviving an economy currently under pressure.

 “Batswana need jobs, entrepreneurs need markets, while communities need investments. We must industrialise and add value to our own resources to ensure that all Batswana benefit, while the private sector drives the economy.’

 The President emphasised that the nation’s economic evolution hinged on pioneering new approaches and diversifying industrial activity. He called for strategic investments designed to directly uplift the livelihoods of Batswana.

 He noted that the domestic economy must move beyond the extraction of primary resources, stressing that adding value to local resources was essential for building a more resilient and diverse economy capable of creating sustainable employment.

 President Boko further reaffirmed government’s steadfast commitment to fostering a supportive environment for small and medium enterprises (SMEs).

 “Empowering SMEs is a cornerstone of our strategy to build a more robust and self-reliant Botswana,” he said.

 On regional development, President Boko said Francistown must become a centre for economic activity as the city has always been shaped by movement. As a gateway to the northern corridor, he said Francistown has potential to create value for its people.

 He explained that hosting such events in Francistown kept the North on the national economic agenda and ensured that opportunities reached every aspect of the economy through innovation. ENDS