Botswana President Duma Boko said on Friday his country will establish a citizenship-by-investment programme, as the southern African country looks to diversify its economy away from its largest export, diamonds.
Botswana’s budget has been constrained this year due to a prolonged downturn in the global diamond market. It is the world’s leading producer of diamonds by value.
“This programme will enable us to continue to secure the long-term financial future of Botswana,” Boko said in a statement.
The new programme will raise funds to address priority needs including the housing market as well as the country’s tourism industry, renewable energy, mining and financial services sectors, according to the statement.
Economy contracted