Debswana Pension Fund Chief Executive Officer Thato Norman has challenged Botswana to rethink its investment strategy, arguing that the country must adopt an export-led economic model and position itself as a regional and global investment platform.
Speaking during a panel discussion titled Private Capital in Botswana: Can the Market Support Investment at Scale? at the Botswana Investment Forum 2026, Norman observed that Botswana continues to struggle to identify sufficient investable opportunities, partly due to the limitations of its relatively small domestic market.
He argued that businesses must look beyond Botswana’s borders and leverage regional economic opportunities, particularly through asset-light, export-oriented and platform-based business models.
Using South Africa as an example, Norman highlighted the potential spillover benefits of regional economic growth, stressing that Botswana should view neighbouring economies as part of a broader investment ecosystem rather than separate markets.
He pointed to the country’s tourism sector as an example of an export-led industry that has successfully attracted foreign currency through the delivery of services to international markets.
Norman further emphasised the need to approach pension fund investments with greater responsibility, noting that pension assets ultimately belong to beneficiaries who depend on them for their future financial security, healthcare and other essential needs.
He challenged stakeholders to assess whether Botswana has the right investment opportunities and infrastructure enablers to compete regionally and globally, stressing that attracting capital must go hand in hand with creating viable, sustainable investment opportunities
