Botswana’s newly elected President, Duma Boko, has announced plans to diversify the country’s diamond-reliant economy by venturing into medicinal cannabis cultivation and also harnessing its abundant solar energy potential.
Boko made the announcement in his first State of the Nation Address, three weeks after he won a landslide victory in elections and ended the Botswana Democratic Party’s nearly 60-year hegemony.
Diamonds currently account for approximately 80% of Botswana’s foreign revenue, but a significant decline in diamond earnings—by more than 60% in recent years—has underscored the need for economic diversification.
“We can no longer rely on a single commodity,” said Boko. He outlined a strategy to attract investment in renewable energy, agriculture, tourism, and technology as part of his government’s economic transformation agenda.
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Botswana, which enjoys over 3,200 hours of sunshine annually, has significant potential for solar energy production, according to Boko. The country averages 21 megajoules per square meter of solar energy—one of the highest rates globally.
In addition, the government plans to tap into the growing global demand for medicinal cannabis and industrial hemp. “Our projections show that cannabis and hemp-related products will contribute significantly to Botswana’s GDP,” said Boko, highlighting job creation as a key benefit of the industry.
Unemployment has been a major concern in Botswana, with an overall rate of 27% and youth unemployment at 38%. To address this, Boko’s government plans to create jobs through manufacturing, construction, and fostering youth entrepreneurship and innovation.
Boko also announced a partnership with Starlink, the satellite internet service led by Elon Musk, to expand affordable internet access across the country. This initiative aims to position Botswana as a regional digital hub, with Starlink investing in infrastructure to support this vision.
