Botswana will roll out a citizenship-by-investment (CBI) program to help diversify an economy hit by a prolonged downturn in the global diamond market, President Duma Boko said on Friday.
“The program will enable us to secure the long-term financial future of Botswana,” Boko said in a statement, adding that proceeds would be channeled to priority needs including housing, tourism, renewable energy, mining and financial services. The minimum investment required has not yet been set.
The southern African nation, the world’s top diamond producer by value, saw its economy shrink 3% last year and expects another contraction in 2025 because of weak diamond demand. In August, Boko declared a public health emergency after a breakdown in the medical supply chain, and in September the government created a sovereign wealth fund to drive diversification, support jobs and manage state assets.
Botswana has signed a memorandum of understanding with investment-migration firm Arton Capital to design and implement the CBI program.