Botswana’s president has secured several agreements with Oman covering mineral exploration, oil storage infrastructure, and renewable energy during an official visit aimed at strengthening economic ties, the presidency said on Monday.
As part of efforts to reduce reliance on diamond mining, Botswana has been engaging Gulf nations to expand into critical minerals such as copper, gold, graphite, and iron ore.
President Duma Boko, who is on a three-day visit, oversaw the signing of the agreements alongside Haitham bin Tariq, according to the presidency.
One of the key agreements is a joint mineral exploration initiative that will increase exploration activities across Botswana, focusing on largely untapped areas that make up about 70% of the country’s land, according to Reuters.
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Botswana’s economy has long depended on diamond sales, which typically contribute around one-third of national revenue. However, earnings have declined due to global economic uncertainty and the growing demand for lab-grown diamonds.
Another agreement involves the development of a 500-megawatt solar power plant. This follows a March 20 announcement that NAQAA Sustainable Energy LLC, a subsidiary of Oman’s state-owned O-Green, had been selected to design, finance, build, and operate the facility in northwest Botswana.
The plant is expected to have a minimum lifespan of 25 years and is part of Botswana’s plan to raise the share of renewable energy in its power mix from the current 8% to 50% by 2030.
In a statement, the presidency said the project would position Botswana “to secure its energy future and unlock long-term economic value”. No financial details were disclosed.
In addition, Botswana Oil Limited signed a joint development agreement with OQ S.A.O.C to build oil storage facilities in Walvis Bay and within Botswana.
Oman is also working to diversify its economy, which remains heavily dependent on oil, although its revenues have recently risen due to higher oil prices linked to the Middle Eastern conflict that began at the end of February.
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Image Credit: Ministry of International Relations, Botswana
