Botswana has signed a major investment deal worth $12 billion with Qatar’s Al Mansour Holdings, President Duma Boko announced on Thursday.
The agreement, made in partnership with the state-owned Botswana Development Corporation, is aimed at addressing immediate national challenges and will target several key areas of the economy.
According to Boko, the investment will be spread across sectors including infrastructure, energy, mining, diamond refinement, agriculture, tourism, cybersecurity, and defence.
“This historic move will be enough to address immediate challenges facing the country,” Boko said in a Facebook post.
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The announcement comes as Botswana faces economic pressure following a downturn in the diamond market, which caused the country’s GDP to shrink by 3% last year and could lead to another contraction this year, Reuters reported.
A Qatari delegation arrived in Botswana on Wednesday for an investment mission to explore strategic opportunities and strengthen bilateral economic relations.
Known for its diamond resources, Botswana has been working to diversify its economy by attracting foreign investment and expanding its role in global markets.
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Image Credit: Club of Mozambique
