In an unprecedented political shift, Botswana has seen a dramatic change in leadership after the opposition coalition secured a majority in the nation’s parliamentary elections, marking the first power transition since the country’s independence nearly 60 years ago.
On Friday, Duma Boko, a Harvard-trained human rights lawyer, was inaugurated as Botswana’s new president. Boko’s Umbrella for Democratic Change (UDC) secured a commanding majority in the 61-seat legislature, defeating the long-standing Botswana Democratic Party (BDP), which had held power since 1966. The incumbent president, Mokgweetsi Masisi, whose BDP had been widely expected to retain control, conceded after the party suffered a shocking collapse, finishing fourth in the race.
Voters rebuked the BDP, holding them responsible for an economic crisis spurred by a downturn in the diamond industry. Diamonds, the country’s primary revenue source, have been hit hard by global market disruptions, including oversupply and weakening demand from major buyers like China. The economic slump has also pushed unemployment to 28%, while rising crime and corruption further fueled public dissatisfaction.
At a press briefing in the capital city, Gaborone, broadcasted on state television, Masisi graciously accepted defeat. “I will respectfully step aside,” he said. “I wish to congratulate the opposition. I respect the will of the people.”
Democratic Discontent
Botswana, once a shining example of democratic success in Africa, has witnessed growing discontent with its political system. A survey conducted by Afrobarometer in July revealed that only 30% of Botswana’s population was satisfied with the state of democracy, a sharp decline from 70% a decade ago. This dissatisfaction mirrored trends across southern Africa, where other countries like South Africa and Mozambique have experienced political turbulence. In South Africa, the African National Congress lost its parliamentary majority for the first time since apartheid ended in 1994.
Outgoing BDP leaders expressed surprise at their defeat, with Vice President Slumber Tsogwane admitting that they were puzzled by the magnitude of the party’s poor performance. With just two constituencies left to report results late Friday, the BDP had managed to secure only four parliamentary seats, a sharp drop from the 38 it held five years ago. Meanwhile, the UDC had clinched 36 seats, positioning itself to lead the next government.
Moeti Mohwasa, a spokesperson for Boko, pointed to the BDP’s disconnect from the people as a major factor in its downfall. According to Mohwasa, the ruling party’s leadership had become detached, failed to ensure accountability, and did not equitably distribute resources.
A Bold Vision for Botswana
Boko, 54, has run for the presidency twice before, and his platform of economic reform and social justice struck a chord with voters. He has promised to create 400,000 jobs within five years, raise the minimum wage, tackle corruption, and reduce water and electricity tariffs. Though his ambitious pledges may prove difficult to fulfill, they have captured the public’s imagination, particularly during this period of economic uncertainty.
Botswana remains the world’s largest producer of rough diamonds by value, with nearly all of its diamonds mined by Debswana, a joint venture between the government and De Beers, which is owned by Anglo American Plc. However, global diamond sales have plummeted due to market oversupply and competition from lab-grown gems. The fallout from these challenges has weighed heavily on Botswana’s economy.
Masisi’s administration had negotiated a 10-year agreement with De Beers, granting the country access to a larger share of diamond profits and securing 10 billion pula ($749 million) in development funds. Nevertheless, Boko criticized the deal, arguing that it weakened the country’s relationship with De Beers, which is now reconsidering its position.
Boko signaled that his administration would prioritize maintaining good relations with De Beers while also pushing for economic diversification. “We have to safeguard the goose that lays the golden egg and generate revenue while we pursue diversification,” he told reporters on Friday.
Increasing Botswana’s Stake in De Beers
In an interview earlier this year, Boko outlined his ambition to increase Botswana’s ownership stake in De Beers from 15% to 51%, shifting more control of the diamond industry to the nation. He also urged De Beers to relocate its headquarters from London to Gaborone.
De Beers has faced its own financial challenges. In 2011, Anglo American purchased the Oppenheimer family’s 40% stake in the diamond producer for $5.1 billion. However, earlier this year, Anglo American wrote down its 85% stake by $1.6 billion and put the unit up for sale after fighting off a $49 billion takeover bid from BHP Group Ltd.
Boko views this as a golden opportunity for Botswana. “This is the best time to acquire a controlling stake in De Beers when it’s in crisis,” he said.
With economic woes dominating the political landscape, the new president’s vision of bolstering Botswana’s role in the global diamond industry and focusing on long-term diversification will be put to the test as he takes on the task of steering the country through its most challenging economic period in recent memory.
