In a bold pre-election move, Botswana’s President Mokgweetsi Masisi has maintained significant spending on domestic initiatives despite advice from the International Monetary Fund (IMF) urging fiscal restraint. Facing re-election,
Masisi has doubled down on expanding economic growth, mainly through ambitious projects in diamond beneficiation and job creation within this crucial industry, which accounts for a substantial part of Botswana’s economy. The ruling Botswana Democratic Party (BDP) has also focused on a manifesto prioritizing job growth, healthcare, and educational reforms as central campaign promises.
Masisi’s investments come as Botswana approaches the general election in which he faces a united opposition led by former President Ian Khama. Khama, a long-time critic of Masisi, has alleged threats to Botswana’s democracy under Masisi’s leadership and vowed to unseat him. Nevertheless, Masisi’s government has cited substantial gains in job creation and economic diversification as proof of his administration’s success and suitability for a second term.
Botswana’s president hopes to be returned to office this week. In the run-up to the 30 October elections, he has ordered spending taps to be kept open despite budgetary red flags and falling revenues in the diamond sector.
