Once hailed as one of Africa’s resource-rich nations due to its diamond wealth, Botswana, a member of the Commonwealth, is now currently facing a major challenge in its economy. Used to support the nation’s prosperity, diamonds acted as a backbone in funding healthcare, schools, and infrastructure and lifted millions out of poverty. However, as a counter-reaction, this reliable source is now under scrutiny with the rise of lab-grown diamonds.
Counting for roughly about 80% of Botswana’s foreign-exchange earnings and around a third of government revenue, diamonds suffered a historic blow, as in 2025, the country’s diamond sector fell sharply. In the second quarter, the output of diamonds plummeted to approximately 43%, the narrowest and lowest decline in the modern mining history of the country.
The revenue for Debswana was halved as the consequences were rapid, and mines went through temporary shutdowns, leaving many workers, such as miners, cutters, and polishers, seeking new ways to make ends meet.
Rising to prominence, these synthetic lab-grown diamonds are produced in a matter of a few days and months, making the need to wait millions of years for a clean-cut sparkling diamond seem irrelevant and outdated, which means they’re often sold for 70%–80% less than natural stones.
However, what makes these even more attractive and appealing to buyers is not just the reasonable and more affordable price tag but also its ethics in marketing. Often branded as “eco-friendly” and “conflict-free,” these strategies instantly grab the support of socially conscious consumers. For the youth, diamond rings are no longer about rarity or heritage, but about affordability, sustainability, and transparency.
Understanding the true depth of the situation, Botswana began its preparation to defend its territorial integrity by reducing its dependence on diamond mining. In September 2025, the government aimed to establish a sovereign wealth fund to begin investing in alternative sectors such as tourism, exploring other minerals, and renewable energy.
Finding itself in a critical stage, Botswana must divert its attention to these sectors in hope of success to overcome this jeopardy, as the citizens would otherwise continue to face risks such as job loss, debts, uncertainty, insecurity, and public health and education loss as well.
As a Commonwealth member, Botswana must leverage international partnerships to diversify its economy and secure a resilient and sustainable future before it’s too late.
