12 Nov 2026

Botswana’s national address has over the years followed a familiar script of cautious accounting, subtle policy adjustments and reliance on the steady rhythm of the global diamond trade.

But on Monday, standing before an expectant nation under the theme, The Steady Path Continues: Unleashing the Potential of Our Economy for the Continued Upliftment of All Our People, President Advocate Duma Boko charted a new course for the country.

President Boko moved beyond routine legislative debates over budget allocations to present an ambitious vision for redefining how Botswana creates wealth, governs its public institutions and delivers justice to its people.

Fundamental to this transformation is a proposed deal that could shift the balance of power in the global diamond industry.

By selecting the Global Diamond Consortium as the preferred bidder to acquire Anglo American’s stake in De Beers, President Boko said Botswana would double its shareholding from 15 to 30 per cent, a move he was confident would elevate the country into the position of single largest shareholder alongside regional partners Namibia and Angola.

Beyond greater ownership and influence in the diamond industry, he said the acquisition would also give Botswana exposure to high-technology synthetic diamond innovations through Element Six, providing an entry point into the lucrative hardware ecosystems driving artificial intelligence and next-generation data centres.

Alongside these economic ambitions, President Boko pledged greater transparency and accountability, releasing the findings of a sweeping decade-long forensic audit conducted by Alvarez & Marsal across 30 public institutions. The audit estimated that P33 billion had been lost through suspected corruption, fraud and systemic waste between 2014 and 2024.

He promised to adopt the audit’s recommendations, adding that government would deploy specialised task forces and reset leadership at key oversight agencies including the Directorate on Corruption and Economic Crime (DCEC) and the Directorate of Intelligence and Security (DIS).

The drive for accountability comes against a backdrop of economic indicators that, according to the President, demonstrate Botswana’s resilience and capacity to pursue the reforms outlined in his address.

He said despite global market jitters, foreign exchange reserves had increased by 32.2 per cent to P63.2 billion by July this year, providing 8.3 months’ import cover.

He also cited Moody’s decision to revise Botswana’s economic outlook from negative to stable while affirming its Baa2 investment-grade rating.

Crucially for businesses and the wider economy, President Boko said government had injected liquidity into the domestic market by clearing more than 216 050 outstanding supplier invoices, valued at P62 billion, within 10 months, to ease pressure on businesses, restore cash flow and support economic activity.

Perhaps the most significant social justice announcement concerned the Central Kalahari Game Reserve (CKGR).

President Boko revealed that government had received an inter-ministerial report recommending the restitution of 52 000 square kilometres of ancestral land to indigenous communities. That stands as the largest structured land right restitution inside a protected area in African history.

The proposed restitution forms part of a wider social protection agenda aimed at improving the welfare and security of vulnerable groups.

On one hand, parallel safety nets are moving just as fast on the ground, particularly the newly introduced Child Support Grant which had already disbursed P34.3 million to support more than 16 501 infants while the Bonno National Housing Programme had handed over 567 completed homes.

Meanwhile, 4 366 temporary workers had secured permanent employment through the Public Service Insourcing Programme, converting previously low-wage positions into more stable jobs.

To ensure that Botswana does not remain dependent on a single commodity, President Boko said government was laying the foundations for a more diversified economy. He noted that agricultural output had increased under the Lemang Dijo programme, commercial industrial hemp processing had gained traction after attracting 14 major investment proposals while the newly launched Botswana Mercantile Exchange had opened modern trading opportunities for local commodities.

The initiatives point to an effort to broaden the country’s productive base and create opportunities beyond the traditional diamond economy.

The President also emphasised that the success of the national development agenda would depend on the participation and commitment of Batswana.

Government’s reform programme, he acknowledged, would not be without challenges but argued that the difficulties ahead were small compared with the collective resolve of the nation.

President Boko called for national unity and collective resolve in pursuing that ambition, presenting the country’s transformation as a responsibility shared by government and the people. ENDS