As a result of worries over a slowdown in the economy, newly elected Botswana President Duma Boko surged to power in elections that took place three weeks ago.
These elections resulted in the resignation of the party that had ruled for almost sixty years.
Diamonds account for around 80 percent of the country’s total foreign profits in the southern African region.
“We can no longer afford to rely on a single product,” Boko stated.
“The decrease in diamond income by over 60 percent in recent years is a strong indicator that we can no longer continue to depend on.”
His administration is working to recruit financiers to encourage investors to engage in high-potential industries such as renewable energy, agriculture, tourism, and technology.
At an average of 21 megajoules per square meter, Botswana gets more than 3,200 hours of sunshine each year, making it one of the countries with the greatest solar radiation levels in the world, according to President Boko.
“There is a very large amount of promise in solar energy.”
Additionally, in order to tap into the expanding international market, the dry nation will start producing cannabis for medical purposes as well as hemp for industrial purposes.
“Our projections for Botswana are that the use of cannabis and items connected to hemp will considerably contribute to the country’s gross domestic product,” said Boko.
“We will be responsible for the creation of employment in this sector.”
One of the most significant complaints that people have about the previous administration, which was headed by the Botswana Democratic Party (BDP) and was responsible for the country’s independence from Britain in 1966, is that the unemployment rate was 27 percent, and it was 38 percent for young people.
Additional strategies for the development of jobs, according to Boko, include fostering creativity and entrepreneurship among young people, as well as enhancing the manufacturing and construction industries.
According to Boko, Elon Musk, a billionaire from the United States, owns Starlink, a satellite internet service, with which Botswana has contracted to provide affordable internet access to the entire country.
Additionally, he said that Starlink intends to make investments in infrastructure that will assist in the transformation of Botswana into a digital center for the whole region.
Botswana, a country with a population of approximately 2.7 million, garnered praise for its peaceful administration transition on October 30, following the BDP’s swift defeat after securing just four seats in parliament.
This stood in stark contrast to the 36 seats that Boko’s Umbrella for Democratic Transition managed to secure.
