Botswana Economic Transformation Program Launched

In a decisive push to break diamond dependency, Botswana's President Duma Boko launched the Botswana Economic Transformation Programme (BETP) on July 15, 2025, in Gaborone, unveiling an ambitious blueprint to pivot the economy toward diversification and high-value jobs. Amid a projected 3.1% GDP contraction in 2024 due to slumping global diamond demand—which accounts for over 90% of exports—the program rests on four pillars: shifting to a services-led model, positioning Botswana as a regional financial hub leveraging its stability, attracting long-term investment, and ensuring sustainable growth. Partnering with Malaysia's PEMANDU Associates—proven in Rwanda and Tanzania—the initiative includes "transformation labs" for key sectors like agriculture, manufacturing, tourism, energy, and digitalization, plus a public Call for Ideas to crowdsource innovations. Proponents hail it as visionary for tackling 27% unemployment and fostering inclusivity, inspired by Singapore and Dubai. Critics caution on execution risks in a fiscally strained context, urging measurable targets. As implementation accelerates via the National Planning Commission, BETP signals Botswana's sprint toward a resilient, globally competitive future.