Botswana Unveils Golden Visa Program to Spark Economic Revival

In a bold move to counter a deepening economic slump, Botswana has launched a Citizenship by Investment program, aiming to lure wealthy foreigners with the promise of citizenship in exchange for substantial investments. The initiative, rolled out in partnership with global advisory firm Arton Capital, seeks to diversify the nation’s economy, heavily reliant on diamonds, as it grapples with its worst financial crisis in decades.

The program, dubbed the Impact Investment Programme, is set to begin in early 2026. It offers a pathway to citizenship for investors willing to contribute between $75,000 and $90,000 in non-refundable funds, alongside investments in key sectors such as luxury tourism, renewable energy, financial services, housing, or non-diamond mining. While full eligibility criteria, including due diligence and residency requirements, are still being finalized, officials are optimistic the program will attract significant capital and create jobs.

Botswana’s economy has taken a severe hit in recent years. The nation, once a shining example of African economic stability, has been battered by a global slump in diamond demand, which accounts for roughly 30% of government revenue. In 2024, the economy contracted by 3%, with the decline accelerating to 5.3% in the second quarter of 2025, marking the steepest drop since the COVID-19 pandemic. Falling demand from major markets like China, coupled with inflation and competition from lab-grown diamonds, led to a 40% plunge in rough diamond sales in the first half of 2025. A major diamond auction was canceled last month after failing to attract viable bids, underscoring the crisis.

The downturn has been compounded by other setbacks. An outbreak of Foot-and-Mouth Disease in 2025 crippled beef exports, a critical non-mining revenue source. The fiscal deficit is projected to hit 9.2% of GDP this year, while a recent credit rating downgrade to BBB with a negative outlook has raised borrowing costs. With unemployment hovering around 27%, the government is under pressure to act swiftly.

The Citizenship by Investment program is part of a broader strategy to stabilize the economy. Alongside it, Botswana launched a Sovereign Wealth Fund in September 2025 to cushion against volatile commodity revenues. Authorities hope the new visa program will mirror the success of similar initiatives in countries like Malta or St. Kitts and Nevis, which have drawn billions in foreign direct investment. By tying investments to high-impact sectors, the government aims to foster sustainable growth and reduce dependence on diamonds.

“This is about creating opportunities and building resilience,” a government spokesperson said. “We’re inviting global investors to partner with us in shaping a diversified, vibrant economy.” While the program has sparked optimism, some analysts caution that its success hinges on transparent governance and robust safeguards to prevent risks like financial misconduct.

As Botswana embarks on this ambitious venture, the world watches to see if this diamond-dependent nation can redefine its economic future through innovative policies and global partnerships.