Botswana’s President Duma Boko has announced the launch of a citizenship-by-investment program, a strategic move to diversify the nation’s economy amid global diamond market challenges.
The program aims to secure Botswana’s financial future by funding priority sectors such as housing, tourism, renewable energy, and financial services.
Botswana has partnered with Arton Capital to establish this program as part of a broader economic strategy to reduce its dependence on diamond mining.
The southern African country, world’s leading producer of diamonds by value, has seen its budget constrained due to a prolonged downturn in the global diamond market.
Botswana’s economy contracted 3% last year and is forecast to contract again in 2025.
The new citizenship program will raise funds to address these economic challenges and promote sustainable growth.
This initiative is part of Botswana’s efforts to drive economic diversification, create jobs, and manage state companies.
Recently, the country set up a sovereign wealth fund and declared a public health emergency in August after the nation’s medical supply chain failed.
The investment amount required for citizenship has yet to be determined.
