Africa-Press – Botswana. Botswana is weighing a “golden passport” scheme that would grant citizenship to foreign investors in exchange for a one-off investment of up to $100,000, as the country seeks to diversify revenue sources amid weakening diamond exports.
The proposed Citizenship by Investment Programme (CIP), first announced by the government last October, is expected to be launched in early 2026, subject to parliamentary approval. The Financial Times (FT) reported over the weekend that the initiative is designed to cushion the impact of falling diamond revenues, which have weighed on growth and export earnings.
“Around 1,000 people have registered their interest in paying $100,000 for citizenship to date, with applicants from the US, Zimbabwe, and India in the top three.”
Under the programme, foreign nationals would be able to acquire Botswana citizenship through a qualifying investment. While details are still being finalised, similar schemes typically involve investments in real estate, government funds, businesses, or direct contributions to the state.Citizenship- and residency-by-investment schemes have gained traction globally, with countries such as Malta, Grenada and St Lucia offering structured programmes. In Africa, nations including South Africa, Mauritius, Namibia, Egypt, Rwanda and Sierra Leone already operate variants of “golden visa” or citizenship-by-investment frameworks, though eligibility criteria and benefits differ widely.
According to the FT, Botswana expects the programme to attract up to 5,000 families over five years, potentially generating as much as $500 million in inflows.
“Prospective applicants appear to be attracted by Botswana’s political stability, opportunities, and strong rule of law,” Armand Arton, chief executive of Arton Capital, a citizenship advisory firm, told the top British media company.
Botswana’s passport currently allows visa-free access to 51 countries, fewer than global benchmarks such as Singapore, which offers access to more than 130 destinations.Diamond dependence drives diversification push
Botswana’s economy, valued at about $19.4 billion, is among Africa’s most stable and well-managed, supported by prudent fiscal policy, strong institutions and decades of political stability. Since independence in 1966, the country has transitioned from one of the world’s poorest nations to an upper-middle-income economy, largely on the back of diamond mining.
Diamonds account for roughly 80 percent of export earnings, about 30 percent of government revenue and around a third of gross domestic product, leaving the economy highly exposed to fluctuations in global demand for natural diamonds.
That exposure has become more pronounced over the past two years as demand weakened in key markets such as China and the US, where economic slowdowns curbed spending on luxury goods. Falling rough diamond prices also weighed on export values.
Data from the Bank of Botswana show that diamond exports declined by about 34.6 percent between 2023 and 2024, dropping from P61.7 billion ($4.5 billion) to P40.4 billion ($3.0 billion), based on an average exchange rate of P13.6 per dollar. The slump contributed to a wider trade deficit and pushed the economy into contraction.Botswana’s economy shrank by 1.8 percent in the first quarter of 2024, driven largely by weaker diamond production and exports. Exports began last year on a soft note, with diamond shipments falling to P7.8 billion ($574 million) in the first quarter, compared with P11.7 billion ($860 million) a year earlier.
However, export performance improved later in the first half of 2025, with diamond exports rising to P16.3 billion ($1.2 billion) between April and June, up from P11.8 billion ($868 million) in the same period of 2024. Despite the rebound, the International Monetary Fund expects the diamond downturn to weigh on growth, forecasting a 1 percent contraction in 2025.
The economy showed signs of recovery in the third quarter of 2025, expanding by 10.9 percent — its fastest pace in five years — after contracting in the previous quarter, according to data from Botswana’s Central Statistics Office. The rebound was driven by a surge in diamond production and broader mining activity.
Foreign investment has also strengthened. Data from the United Nations Conference on Trade and Development show that foreign direct investment inflows to Botswana more than doubled year on year to $467 million in 2024, highlighting continued investor confidence despite near-term challenges.
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