Botswana plans to open an embassy in Moscow in the near future and has invited Russian investors to collaborate in its rare earths and diamond sectors, according to comments by the country’s foreign minister carried by Russia’s state news agency TASS on Sunday.
According to Reuters, the move comes as Russia works to expand its presence in Africa amid a broader confrontation with Western nations.
“We firmly believe that Botswana is the best place for investment, considering its political and economic stability. Therefore, we strongly encourage Russian investors to come to Botswana,” Botswana’s foreign minister, Phenyo Butale, was quoted as saying by TASS.
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Diamonds play a central role in Botswana’s economy, typically accounting for about one-third of national revenue and roughly three-quarters of foreign exchange earnings.
Russia’s Norilsk Nickel, the world’s largest producer of palladium and high-grade nickel, resolved a dispute in 2021 with the government of Botswana and BCL Group over a transaction involving the sale of Norilsk Nickel’s African assets to BCL Group.
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Image Credit: Mappr
