Botswana President Duma Gideon Boko has announced that the country is intensifying efforts to diversify its economy away from its long-standing dependence on diamonds, pointing to industrial hemp as a promising new sector for sustainable growth, job creation, and foreign investment.
The announcement came following President Boko’s tour of the Hemp Trial Project at the National Agricultural Research and Development Institute (NARDI). The president emphasized that the initiative underscores his government’s commitment to building resilient industries capable of driving long-term economic transformation.
Moving Beyond Diamond Revenues for Economic Growth
“The era of overreliance on diamonds must give way to a more diversified and resilient economy,” President Boko stated. “By investing in innovation, value addition, and emerging industries such as industrial hemp, we are laying the foundation for long-term prosperity and economic security.”
For decades, diamond mining has been the bedrock of Botswana's economy. However, fluctuating global markets have highlighted the urgent need for structural economic diversification. President Boko stressed that achieving meaningful change will require bold policy decisions and sustained capital investment to secure a prosperous future.
Why Industrial Hemp? Climate Resilience and Job Creation
According to the president, successful agricultural trials at NARDI have proven Botswana’s potential to establish a high-value, climate-resilient hemp industry. This emerging sector is expected to support:
- Commercial agricultural production and farming opportunities.
- Local manufacturing, industrial processing, and value addition.
- New export opportunities to tap into global markets.
- Wider citizen participation in the national economy.
“This is an opportunity to create jobs, attract investment, and open new markets while strengthening our agricultural sector,” Boko added, reiterating that bold choices are necessary to build an economy that produces and exports more.