As you may be aware, Botswana’s economy is in crisis. Synthetic diamonds are now firmly entrenched in the global diamond industry, tanking demand for Botswana’s natural/mined diamonds. Accordingly, the nation has lost a massive amount of revenue which it is not likely to ever recover. The diamond driven growth era is over.
This slashing of revenues has already had a big, real impact on service delivery: President Boko announced a few weeks back that the country has started to run out of medicine in many hospitals and has declared an emergency.
The Boko government took power last year, ending decades of BDP government. The new administration basically has to figure out how to rapidly diversify the economy and turn the country around on a dime.
This article covers one action that the government is undertaking to try to drive diversification. They are setting up a wealth fund specifically for investing in diversified industries.
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Context:
As you may be aware, Botswana’s economy is in crisis. Synthetic diamonds are now firmly entrenched in the global diamond industry, tanking demand for Botswana’s natural/mined diamonds. Accordingly, the nation has lost a massive amount of revenue which it is not likely to ever recover. The diamond driven growth era is over.
This slashing of revenues has already had a big, real impact on service delivery: President Boko announced a few weeks back that the country has started to run out of medicine in many hospitals and has declared an emergency.
The Boko government took power last year, ending decades of BDP government. The new administration basically has to figure out how to rapidly diversify the economy and turn the country around on a dime.
This article covers one action that the government is undertaking to try to drive diversification. They are setting up a wealth fund specifically for investing in diversified industries.