Botswana strengthened diplomatic ties with Moscow and invited Russian investors to cooperate on mining and mineral processing, part of efforts to combat plummeting revenues from its staple diamond mining industry. Russia’s state news agency TASS, quoting Botswana’s foreign minister, also reported that the country plans to open an embassy in Moscow soon.
Botswana — the world’s largest producer of diamonds by value — expected its economy to shrink by 0.9% in 2025 due to a prolonged downturn in the market for the precious stones. Meanwhile, Russia has in recent years sought to strengthen its political ties with African countries and gain access to the continent’s vital minerals after Western nations imposed sanctions in response to its full-scale invasion of Ukraine.
Diamonds account for a third of Botswana’s income, and have made the country one of Africa’s richest. But the rise of lab-grown alternatives has devalued the stones. In a separate move to boost public coffers, Gaborone also plans to offer passports for cash. The “golden passport” proposal still needs parliamentary approval, but would allow foreigners to buy citizenship for $100,000, the Financial Times reported.
