Botswana’s President Duma Boko announced on Thursday an agreement with Qatar’s Al Mansour, aimed at addressing immediate national challenges, with the Gulf firm committing to $12bn in investments in various economic sectors.
The deal signed in partnership with state-owned Botswana Development Corporation will focus on key sectors including infrastructure, energy, mining, diamond refinement, agriculture, tourism, cybersecurity and defence, Boko said in a post on Facebook.
“This is just the beginning. I am proud to announce a landmark partnership between Al Mansour Holdings and the Botswana Development Corporation, with Al Mansour Holdings committing $12bn in investments to accelerate our national development goals,” Boko said.
Al Mansour is owned by Sheik Mansour Bin Jabor Bin Jassim Al Thani.
Botswana has been one of Africa’s economic success stories. But that has been tested by a diamond market downturn, which caused GPD to contract 3% last year and could trigger another contraction this year.
“This historic move will be enough to address immediate challenges facing the country,” said Boko.
The Qatari delegation arrived in Botswana on Wednesday on an investment mission to explore strategic opportunities and bolster bilateral economic ties.
The country has been working to diversify its diamond-dependent economy by attracting foreign investment and strengthening its position in global markets.
Reuters
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