He adds that the government has not ensured the diversification of the country's economy, which remains heavily reliant on the diamond industry.

Kgadima’s remarks come in response to the World Bank’s Macro Poverty Outlook 2025, which warns that Botswana may breach its debt ceiling unless fiscal deficits are reduced. The government recently secured two loans, one from the African Development Bank (AfDB) and another from the Botswana Public Officers Pension Fund, totalling $532 million.

"Things are going to look a little bit bleaker because these institutions tend to restrict borrowers such as the country of Botswana. One is surprised as to why Botswana did not tap into private capital and the bond market largely, because that could have given them latitude in terms of how to diversify the economy. Right now, I can't see them being able to diversify the economy," said Kgadima.

--ChannelAfrica--