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Botswana Market Report
rough diamond
Botswana is the longest continuous democracy on the African continent and it has built a tradition of democratic values which has helped maintain political and social stability. Although Botswana is often lauded as a success story the reality is far more complex and the country faces many challenges including poverty, inequality, a weak private sector and rising unemployment.
Botswana functions as a parliamentary republic, governed
by the principles outlined in the Constitution of Botswana. Te country's governance framework was established following its independence in 1966, drawing inspiration from both the Westminster system of the United Kingdom and the traditional tribal structures of the Tswana people. It has enjoyed peaceful, regular elections. While Botswana maintains a multi-party system, the Botswana Democratic Party (BDP) has maintained a dominant presence, securing majority governments since independence. With a population of just over two million spread across a
landmass comparable in area to that of Texas, Botswana is one of the most sparsely populated nations globally. Approximately 80 per cent of Botswana’s land area is made up of the Kalahari Desert, which is a 2,500km uninterrupted expanse of sand. Situated at the heart of Southern Africa, Botswana shares borders with South Africa, Namibia, Zambia, and Zimbabwe. Initially one of the world’s poorest nations upon gaining in-
dependence in 1966, Botswana swiftly transformed into one of the fastest-growing economies. Botswana has historically enjoyed robust and stable growth since its independence in 1966 and in 2004, the World Bank classified Botswana as an upper-middle-income country. Tis progress can be attributed
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Capital: Gaborone Total Area: 581,
730sq.km Population: 2,417,596 Median age: 26.8 years Religions:
An estimated 77% of the country's citizens identify as Christians. Anglicans, Methodists, and the United Congregational Church of Southern Africa make up the majority of other 1.4% (includes Baha'i, Hindu, Muslim, Rastafarian), none 15.2% Languages:
The official language of Botswana is English, while Setswana is widely spoken Currency: The pula (Botswana dollar)
to its abundant diamond resources, strong institutional framework, prudent economic policies, and its relatively modest population. Te mineral industry provides about 40 per cent of all gov-
ernment revenues. Te government has invested the returns from diamond mining into education, health, and infrastructure. According to the International Monetary Fund (IMF), “Botswana is one of the few countries in sub-Saharan Africa that has truly benefited from its mineral wealth.” Indeed revenues from diamond mines, combined with sound economic policies, have helped build infrastructure and kept the economy stable. Bots- wana has consistently achieved one of the most rapid growth rates in per capita income globally. Indeed its economic de- velopment has been unmatched in sub-Saharan Africa and Botswana has often been held up an “an African miracle.”
ECONOMIC CHALLENGES Although Botswana is often lauded as a success story the reality is far more complex and the country faces many challenges including poverty, inequality, a weak private sector and rising unemployment. Botswana's reliance on minerals means that its economy is still too dependent on diamond mining and performance is tied to global demand. Meanwhile there has been an increase in the number of people eligible to
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