Botswana's economy has been shaped by diamonds since the Orapa mine opened in 1971. Debswana, a 50-50 joint venture between De Beers and the Botswana government, mines approximately 25 million carats annually from Orapa, Jwaneng, and three other mines. Diamonds contribute 75 percent of Botswana's government revenues and 80 percent of its export earnings. The country has used diamond wealth wisely: per capita income of $8,200 is among Africa's highest, and Botswana has maintained an investment-grade credit rating for 30 years.
Diversification Strategy
The 2023 renegotiated diamond sales agreement with De Beers, in which Botswana increased its diamond sales allocation from 25 to 50 percent over 10 years, strengthens government revenue. Simultaneously, Botswana is investing in diamond cutting and polishing beneficiation, tourism (Okavango Delta, Chobe), financial services (Botswana Stock Exchange), and technology sector development. The Botswana Innovation Hub in Gaborone aspires to be a regional technology centre. Investors entering Botswana's growing non-diamond sectors can access business registration and investment incentive information on intra-africa.com.
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