For decades, Botswana’s diamonds have done something rare in the global economy: They turned a landlocked desert nation into one of Africa’s most stable and prosperous countries. Now the stones that financed that success are becoming the reason investors are uneasy. S&P Global Ratings affirmed Botswana’s long-term sovereign rating at BBB- and its short-term rating at A-3, preserving the country’s investment-grade status. But the agency kept the outlook negative, a warning that the rating could...

Botswana’s extended slump in the diamond market is exposing vulnerabilities in the country’s economic model, as weakening global demand weighs on export revenues and foreign exchange reserves. This situation has highlighted the limitations of relying solely on monetary policy to shield the Pula from external shocks. Vice President and Finance Minister Ndaba Gaolathe cautioned that Botswana cannot indefinitely defend the Pula through monetary measures while its economy remains heavily reliant on diamonds. Speaking during the...

15 Students Set Out to Build Something New At a fellowship backed by MIT and the Botswana government, young entrepreneurs are turning laboratory research into ventures – and testing whether a small nation can build its way out of dependency on a single commodity. On a Wednesday evening, inside the sleek auditorium of the Botswana Digital & Innovation Hub in Gaborone, 15 university students stood before a room of cabinet ministers, academics, and investors and...

Botswana’s extended slump in the diamond market is exposing vulnerabilities in the country’s economic model, as weakening global demand weighs on export revenues and foreign exchange reserves. This situation has highlighted the limitations of relying solely on monetary policy to shield the Pula from external shocks. Vice President and Finance Minister Ndaba Gaolathe cautioned that Botswana cannot indefinitely defend the Pula through monetary measures while its economy remains heavily reliant on diamonds. Speaking during the...

First National Bank Botswana (FNBB) anticipates a substantial increase in its profit before tax for the financial year ending June 30, 2026, with gains expected to reach as much as P235 million. This growth would push the bank’s annual earnings past the P2 billion threshold for the first time. In a notice to shareholders, FNBB projected a profit before tax increase of between 10 and 15 percent, translating to an estimated rise of P200 million...