- Cites ban on importation of fresh produce and Selebi-Phikwe citrus project as factors on road to economic independence
GAZETTE REPORTER
Botswana is on the cusp of a transformative investment that will allow the country to participate in the full diamond value chain where the majority of profits are realised, President Mokgweetsi Masisi has said.
Addressing the 40th National Congress of the Botswana Democratic Party (BDP) in Tlokweng over the weekend, the President stated:
“For the first time ever, Botswana will not only produce diamonds but also participate fully in the value chain, ensuring that our citizens benefit from every stage of this precious resource’s journey.”
HB Antwerp deal
Earlier this year, Botswana announced a landmark agreement to acquire a 24 percent stake in HB Antwerp, a strategic move that will see the country supply rough diamonds to the Belgian company for five years through state-owned Okavango Diamond Company (ODC).
The partnership is expected to operate similarly to HB’s previous deal with Lucara Diamond Corp, allowing Botswana to share in the profits from polished diamonds.
In his speech, President Masisi also underscored the success of his administration in attracting Foreign Direct Investment (FDI) and forging partnerships between foreign investors and local entities.
Import ban on fresh produce
He cited the Selebi-Phikwe citrus project as example of such collaboration and of how citizen participation can drive economic growth.
“In the spirit of fostering self-reliance in food production, we have imposed restrictions on certain fruit and vegetable imports to stimulate local production and processing,” Masisi stated.
“This policy has already paid off, as evidenced by the reduction in our food import bill in the horticultural sector.”
Food security
Looking ahead, the President revealed plans for the commissioning of a Horticultural and Fresh Produce Market, which he said will further bolster Botswana’s efforts to achieve food security and economic independence.
“This is a call to harness our creativity and innovative skills,” said the President. “We must boost productivity, manufacture our goods and services, and leverage our indigenous knowledge to spur economic growth and wealth creation.”