Welcome to the December 2025 edition of Projects Magazine, our final issue of what has been a defining and eventful year in Botswana’s Second Republic journey.
The year 2025 marked Botswana’s first full year under a new administration following the historic October 2024 elections. For the first time since independence more than five and a half decades ago, a new political party assumed leadership—ushering in a new chapter in the nation’s democratic and economic evolution.
If 2025 will be remembered for one defining quality, it is momentum. Across mining, energy, manufacturing, and regional cooperation, the year was shaped not merely by policy pronouncements, but by tangible progress. Projects broke ground, capital was deployed, and long- term strategies began to take visible and measurable form.
The mining sector once again anchored Botswana’s economic story, but with a clear shift toward diversification, scale, and future-facing minerals—signalling an economy preparing itself for the demands of tomorrow.
The tone for the year was firmly set by the first budget speech of the new administration, delivered by the Minister of Finance and Vice President, Ndaba Gaolathe. His maiden address signalled a fresh approach to governance, outlining an ambitious agenda to reform Botswana’s budgeting and spending culture while laying the foundation for a more inclusive and resilient economy.
Under the theme Building an Inclusive and Deep Economy, Minister Gaolathe articulated a deliberate, phased strategy for economic renewal—halting financial haemorrhaging within government, stabilising the economy and preparing for take-off, implementing tangible early reforms, and ultimately building a New Botswana.
Among the most consequential developments of the year was the conclusion of long-standing negotiations with Botswana’s diamond partner, De Beers Group. The historic agreement signed in February 2025 marked a critical milestone in reshaping the country’s diamond value chain and broader economic transformation agenda.
The year concluded with President Duma Boko’s State of the Nation Address in November 2025, a reflective and resolute assessment of the administration’s first year in office. Acknowledging the economic pressures faced during the transition, the President emphasised resilience, collective resolve, and purposeful action.
Framed around the vision of building a “deep economy” that expands opportunity and improves quality of life for all Batswana, the address outlined an ambitious agenda focused on institutional reform, inclusive growth, and long-term sustainability. Central to this vision is the 12th National Development Plan (NDP 12), anchored on private sector–led growth and guided by the Botswana Economic Transformation Programme (BETP), with its bold targets of job creation, diversification, and reduced dependence on diamonds.
In this edition, we capture the key business, infrastructure, and economic development stories that defined 2025, alongside major announcements and developments from November and December. As always, our focus remains on the projects, policies, and partnerships shaping Botswana’s future.
We thank you for your continued support throughout the year. On behalf of the Projects Magazine team, we wish you a Merry Christmas and a prosperous New Year as we look ahead to 2026 with optimism and purpose.
Enjoy the read.
