President Duma Boko has officially launched Botswana’s first Sovereign Wealth Fund, describing it as a bold and visionary step toward reducing the country’s dependence on diamonds and safeguarding its long-term prosperity.
While acknowledging that diamonds have been the backbone of Botswana’s economy for decades, President Boko emphasized that recent volatility in the industry has highlighted the urgent need for economic diversification. The Sovereign Wealth Fund will serve as a strategic vehicle for long-term savings and investments, both domestically and internationally.
He further underlined the importance of shifting from routine external engagements to bringing global expertise directly into Botswana, ensuring knowledge transfer and stronger local capacity.
President Boko also commended the team of professionals entrusted with managing the fund for their dedication, expertise, and commitment.
The launch of the Sovereign Wealth Fund marks a historic milestone in Botswana’s economic journey, laying the foundation for a more resilient, sustainable, and diversified future beyond diamonds.