Africa-Press – Botswana. President Duma Boko has officially launched Botswana’s first Sovereign Wealth Fund, calling it a bold step toward securing the country’s future prosperity. The initiative seeks to reduce reliance on diamonds, which have long been the backbone of Botswana’s economy.
For decades, diamond revenues have powered growth and financed key development projects. However, recent volatility in the global diamond market has exposed the risks of depending too heavily on one sector. President Boko stressed that the fund is a strategic response to this challenge, ensuring that Botswana builds long-term financial security while creating new pathways for growth.
The Sovereign Wealth Fund will act as a savings and investment vehicle. It will channel excess revenues into productive ventures both inside and outside Botswana. This approach aims to generate sustainable returns, strengthen the country’s financial position, and create buffers against future economic shocks.
President Boko highlighted the importance of knowledge transfer in the fund’s operations. He emphasized moving away from routine external engagements and instead bringing international expertise directly into Botswana. By doing so, the country can strengthen its local capacity and ensure that skills and technical know-how remain embedded within its own institutions.
He also commended the professional team entrusted with managing the fund. Their expertise, dedication, and oversight will play a central role in ensuring transparency, accountability, and long-term value creation.
The launch marks a historic milestone in Botswana’s economic journey. By establishing the Sovereign Wealth Fund, the country has set the stage for a more resilient and diversified future. This move positions Botswana to safeguard its wealth for future generations while reducing the risks tied to fluctuations in the diamond trade.
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