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Country analysis > Botswana Last update: 2020-11-27  

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Stanbic Bank

Botswana: economy profile 2005

January 2005

Standard Bank

Posted with acknowledgements to Standard Bank, Johannesburg
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The discovery of diamonds soon after independence in the 1960s has helped to transform the economy from being largely underdeveloped and dependent on agriculture to a more dynamic one with the highest credit rating in Africa. Although diamond mining still dominates the economy, the share of services has risen notably in recent years. For decades, solid mining output and prudent financial management have underpinned robust economic growth and improved living conditions.

The country has an established history of peace and stability, with elections having been held regularly since independence. In the 2004 elections, as in all the previous ones, the Botswana Democratic Party retained power, with the opposition remaining divided and weak. The government has recommitted itself to diversifying the economy to create jobs and sustain the growth momentum, as the reliance on diamond mining is unsustainable and the required links between the mining industry and the rest of the economy have not developed fully. Tackling the HIV/Aids pandemic also remains a priority. Botswana has one of the highest incidences of HIV/Aids in the world, but also one of Africa’s most progressive programmes for dealing with the disease.

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