At a Glance
- Botswana launches a citizenship program to attract investors and diversify beyond diamonds.
- Funds to support housing, tourism, renewable energy, mining, and financial services.
- Diamond slump, health crisis heighten urgency for new economic growth sources.
Botswana has launched a citizenship by investment program as part of a broader effort to ease its dependence on diamonds, which remain the country’s main export and biggest source of foreign exchange.
A push beyond diamonds
President Duma Boko announced the program on Friday, calling it a step to attract new capital and strengthen the country’s financial future.
“This program will enable us to continue to secure the long-term financial future of Botswana,” Boko said in a statement.
The southern African nation is the world’s top producer of diamonds by value. But revenues from the stones have slumped, straining the government’s budget and raising concerns about long-term economic stability.
Botswana’s economy shrank 3% last year, and another contraction is forecast for 2025 as global demand for diamonds remains weak.
Targeting key growth sectors
Under the plan, proceeds from the citizenship program will be directed toward sectors seen as essential for economic diversification. These include housing, tourism, renewable energy, mining, and financial services. The minimum investment level for applicants has not yet been disclosed.
The government has also set up a sovereign wealth fund, introduced in September, to help create jobs, manage state-owned companies, and channel investment into non-diamond industries.
New pressures on the economy
Botswana’s economic challenges have been compounded by a public health emergency declared in August after disruptions in the medical supply chain.
The dual strain of weaker diamond revenues and health-sector shortages has underscored the urgency of finding new growth engines.
Drawing in global investors
To support the rollout of the program, Botswana signed a memorandum of understanding with Arton Capital, a global advisory firm that helps governments design citizenship and residency schemes.
The move places Botswana among a growing number of African countries offering citizenship by investment to attract high-net-worth individuals and international investors.
For the government, the program is not only about filling budget gaps but also about reshaping the economy. By inviting foreign investors into sectors beyond diamonds, Botswana hopes to build a more balanced foundation for future growth.
