A new regulation in Botswana mandates that firms must sell a 24% share in new mining licenses to local investors if the government does not acquire a 15% stake.
This law, effective October 1, aims to enhance local ownership and value addition in the mineral sector. Facing financial challenges, Botswana, the world’s leading diamond producer, anticipates a 50% decline in revenue in 2024, driven by decreased demand and intensified competition from synthetic alternatives.
The IMF predicts the economy will contract for a second consecutive year, with a GDP decrease of 0.4% in 2025 following a 3% decline in 2024.
