Botswana has signed new agreements with Oman covering energy, mining and infrastructure, as the country seeks to reduce reliance on diamonds amid weakening global demand.
President Duma Boko of Botswana and Sultan Haitham bin Tariq of Oman formalised the deals, reflecting closer bilateral cooperation and a strategic shift towards broader economic growth.
Falling diamond prices and competition from lab-grown alternatives have increased pressure on Botswana’s fiscal stability, prompting efforts to expand into new sectors.
Key developments:
• A 500MW solar photovoltaic project with battery storage to boost energy security and renewable capacity
• Joint exploration of copper, gold, graphite and iron ore to diversify mining output
• Infrastructure plans including storage at Walvis Bay and the Tshele Hills Strategic Petroleum Depot
• Increased investor outreach, including engagements in France to promote emerging sectors
The agreements form part of Botswana’s wider strategy to strengthen resilience and attract investment.
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