Botswana must rethink wealth beyond its dependence on diamonds

Botswana’s long reliance on diamonds has exposed a weakness in its economic model: the assumption that a scarce natural resource will always retain its value. As technology reshapes the way people define and produce precious commodities, the country faces urgent questions about diversification, competitiveness and the future of its mineral wealth. The debate was revived by a claim from Marathon Fusion, a San Francisco-based startup, that it had converted mercury into gold. Co-founded by former...

Botswana raises growth forecast as diamond market recovers

  Botswana has raised its 2026 economic growth forecast to 3.8 percent, up from an earlier estimate of 3.1 percent. The revision reflects stronger diamond production in the first half of the year and offers fresh hope for an economy strained by a prolonged slump in the global diamond market. After nearly two years of declining industry performance, the latest figures suggest a possible turnaround. Minerals and Energy Minister Bogolo Kenewendo said the recovery was...

Botswana courts Dangote as fuel-supply diversification gathers pace

Botswana is in talks with Nigerian billionaire Aliko Dangote about securing fuel from his refinery, as the government seeks alternatives to traditional suppliers. A sharp rise in international oil prices has underscored the risks of relying on a narrow set of sources and transport routes. Minister of Minerals and Energy Bogolo Kenewendo confirmed that the government had discussed potential supplies with Dangote, as well as with Angola and Ivory Coast. The talks are part of...

Botswana’s diamond dream meets a reckoning over those who polish it

Allegations of exploitation inside the country’s cutting and polishing factories test the credibility of its ethical-diamond brand – at the worst possible moment for the trade. A contradiction at the heart of the success story For nearly six decades, the diamond has been Botswana’s origin story – the glittering engine that built its roads, funded its schools and underwrote the salaries of a state widely admired for turning mineral wealth into stability. Now that story...

Botswana holds firm on cobambiting trafficking

A single conviction, the first in four years, helps Botswana retain its Tier 2 standing in Washington’s 2026 trafficking assessment, even as South Africa stalls on the watch list. In the quiet arithmetic of international accountability, a single conviction can carry outsized weight. For Botswana, that conviction – the first in four years, delivered with a fifteen-year prison sentence – has helped the country hold its Tier 2 standing in the United States Department of...

Dangote’S $46 Billion Bet

On the industrial flatlands of Lagos, a wager years in the making is now being placed before the public. Nigeria’s Dangote Petroleum Refinery and Petrochemicals FZE is opening its doors to investors in what could become one of Africa’s most significant industrial public offerings. In doing so, it is asking a question that reaches well beyond its own balance sheet: can an African industrial champion raise public capital at scale and still reward the shareholders...

African financial markets are growing

African financial markets are showing signs of progress, with most countries posting stronger results as economic conditions stabilize and regulatory reforms take hold. Yet limited trading activity continues to restrict their ability to attract investment, mobilize domestic savings and offer businesses alternatives to traditional bank financing. Botswana’s two-place drop in the 2026 Africa Financial Markets Index, even as the continent’s overall performance improved, illustrates the difficulty of building deeper and more resilient capital markets. The...

Diamonds, copper lift Botswana’s exports to P5.16 Billion

Botswana’s export earnings rose to P5.16 billion in July 2026, driven largely by diamonds and copper as the country seeks to reduce its dependence on mineral exports. According to the latest International Merchandise Trade Statistics monthly digest, exports increased 2.0% from the revised P5.06 billion recorded in June. The improvement came as imports declined, though Botswana still posted a substantial trade deficit, underscoring the gap between the country’s export capacity and its demand for goods...

Botswana’s Kgotla offers a lesson in rebuilding trust in democracy

As confidence in elections and political institutions declines across much of the world, Botswana is putting an old civic tradition at the center of a modern democratic debate. The country’s kgotla – a community assembly where residents gather to discuss public issues, hear competing views and seek consensus – is being presented as a possible response to democratic backsliding. The message from Botswana is ambitious: Africa’s indigenous systems of governance may contain lessons that democracies...