Can the New Government End Botswana’s Dependency on Diamonds?

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Botswana has long relied on diamonds to drive its economy. But is the new government ready to shift toward a more diverse, resilient future?

For decades, diamonds have been Botswana’s best friend. Sparkling beneath the soil, they’ve powered our economy, built our cities, and funded our dreams. But today, a question lingers like dust after a mining blast: Can we thrive without them?

With prices fluctuating, global demand changing, and technological disruption looming (hello, lab-grown diamonds), the truth is hard to ignore Botswana’s diamond dependence is no longer sustainable.

So, can the new government end this dependency?

Yes. But only if it’s brave enough to dig deep into new industries, not just deeper into the earth.

The Diamond Dependency Dilemma

Let’s be clear: diamonds have done wonders for Botswana. Since independence, they've funded education, infrastructure, and healthcare.

But here’s the reality:

  • Over 80% of export earnings come from diamonds.

  • Over 30% of GDP is still linked to mining.

  • A decline in global demand or price volatility hits the entire economy hard.

When your economy is built on one shiny rock, you’re always one price crash away from crisis.

Is that the future we want to pass on?

It’s Time to Diversify Strategically

Ending diamond dependency doesn’t mean abandoning the industry it means building new pillars strong enough to stand on their own.

1. Finance & Investment as the Next Diamond

What if Botswana became the Switzerland of Africa a stable, transparent hub for African finance?

  • Strengthen financial services regulations

  • Invest in capital markets through the Botswana Stock Exchange

  • Empower youth with FMVA®, CMSA®, and CFA certifications

Let finance become a value-creating export not just an administrative function.

👉 Read: How to Build a Finance Career Beyond Banking

2. Digital Economy: Let’s Code, Not Just Mine

The internet is the new oil. Coding is the new mining.

  • Launch Tech Villages for AI, blockchain, and software startups

  • Provide grants for digital creators and freelance professionals

  • Incentivize tech-driven export businesses

Our young people don’t lack talent—they lack access. Let’s change that.

3. Tourism That Tells Our Story

From the Okavango Delta to the Kalahari Desert, Botswana has unmatched natural beauty. But we’re still under-selling it.

  • Develop eco-luxury tourism brands

  • Create indigenous tourism experiences that celebrate culture

  • Train and fund local tourism entrepreneurs

Let’s turn cultural pride into sustainable profit.

4. Agro-Industry: Grow What We Eat. Export What We Grow.

Botswana imports most of what it eats—while thousands of hectares lie uncultivated. Imagine the jobs, savings, and exports we’d create by reviving agriculture.

  • Invest in hydroponics and smart irrigation

  • Empower youth co-operatives and agri-tech startups

  • Create agro-processing zones with tax incentives

We don’t just need farmers. We need agripreneurs.

👉 See: How Young Farmers Are Feeding Africa’s Future

5. Creative Economy: Our Stories, Our Strength

Music. Fashion. Film. Writing. Art.

What if creativity wasn't seen as a hobby, but as an economic strategy?

  • Fund the National Creative Fund

  • Launch a Botswana Creative Export Program

  • Give tax breaks to businesses investing in local talent

The world is buying African culture. Let’s make Botswana a supplier.

So, Can the New Government Do It?

Yes but it will take:

✅ Visionary Policy: Move beyond rhetoric. Create real roadmaps with KPIs and timelines.
✅ Bold Investment: Prioritize sectors that create value and resilience.
✅ Public-Private Partnerships: Engage business, academia, and civil society in a shared national mission.
✅ Youth Inclusion: If your policy doesn’t put young people to work, it’s not working.

Digging Deeper Must Mean Digging Differently

Diamonds helped us rise—but they shouldn’t define how we stay standing.

It’s time for Botswana to embrace the full power of its brains, beauty, and brilliance. The real gems of this nation are not under the ground—they're sitting in classrooms, pitching ideas, building apps, planting fields, writing music, and dreaming big.

Let the new government lead the charge. Not just to diversify the economy—but to liberate it.

Join the Conversation

🔷 What sector do you think can replace diamonds as Botswana’s economic engine?
💬 Share your ideas in the comments or email us your thoughts at mbako.magudu@yahoo.com



📩 Subscribe for weekly posts on building Botswana’s post-diamond future.

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