President Advocate Duma Gideon Boko has called for a radical transformation of Botswana’s economy, urging a decisive break from the country’s reliance on a single commodity.
Speaking at a high-level briefing on the Botswana Development Corporation’s (BDC) strategic update this Friday, President Boko began his address by posing a profound question: “Where are we as a country?”
Invoking Bruce Lee’s famous reflection “Who am I?”, the President linked the question of personal identity to national self-assessment. He reminded the gathering that Botswana has for too long depended on a mono-sectoral economy, centred on diamonds, while critical sectors such as agriculture, manufacturing, processing, value addition, and finance have been neglected.
“We have to change this,” said Boko, adding that the skills and zeal to do so are already present within the nation.
He urged practitioners to keep the people at the forefront of every decision and every action. “The economy needs to be transformed quickly and radically—it needs a revolution,” he stated. He stressed that this revolution must be target-based, with a clearly crafted vision to guide the nation forward, much like the one BDC has developed.
Reflecting on history, the President recalled that when the BDC was established in the 1970s, there was remarkable foresight in creating an institution to drive the country’s development. He noted that this same spirit of farsightedness must now be rekindled with even greater urgency. Botswana’s new economic program, he said, demands “breakneck speed and agility” if it is to succeed.
Further, he revealed that new investors, including the $12 billion partnership with Qatar’s Al Mansour Holdings, have already expressed their confidence in Botswana and have begun designing plans under the BDC framework. He expressed full confidence in BDC as the national vehicle for channelling this investment into development. “Finance must be deployed for the agenda of development, and in order to do this, we need to change the way things have been done,” he said. Setting a bold target, he declared that within three years, Botswana must be visibly transformed.
He emphasised the need for reform, stating that outdated laws and practices that had held the country back must be changed. Decisions, he said, must be informed by data, with evidence-based solutions shaping Botswana’s new path. “BDC has stepped up to give us the platform for transformation and deployment of finance for development,” he affirmed.
During the event, BDC announced its exit from Rhodes which has unlocked P400 million. These funds will be redirected toward driving local economic transformation, with a focus on job creation, enhancing industrial capacity, and fostering innovation.
In closing, Boko reiterated his confidence in BDC’s ability to deliver on its mandate. With urgency, bold reforms, and targeted investment, he said Botswana will embark on a revolution that will redefine its economy and secure a more diversified and inclusive future.
