23 Dec POM: From Diamonds to Citizenship: Botswana’s new policy for economic empowerment

Elena Wood Riaño

International Policy Review – Policy of the Month

Once among the poorest nations in the world, the southern African nation of Botswana is presently
known as a prime example of African success. As the largest producer of diamonds by value and second by
volume in the world, Botswana has managed to maintain successful economic growth through prudent

fiscal management of diamond revenue. Since its independence in 1966, diamonds have been the country’s
best friend, constituting up to 90% of its total export earnings and a significant portion of the government
revenue. However, the recent depletion in the value of diamonds has led to prices slumping and global
demand plummeting. As a result, the government has had to embark on a bold policy shift with the purpose
of diversifying its economy. In September 2025, President Dumo Boko announced a new Citizen by
Investment program (CBI), aiming to attract foreign capital and international talent. By allowing investors
to obtain Botswana citizenship in exchange for significant investments, the government sees the program as a
potential for long-term financial stability. Botswana’s reputation as a stable democracy is being challenged,
and the result of this policy will unveil its ability to revive the economy and lead the country to a stable and
prosperous future.

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