Boko’s promises: Delivery remains uneven

President Duma Boko’s November 2025 State of the Nation Address (SONA) set out an ambitious agenda to diversify Botswana’s economy, attract investment, create jobs, strengthen public services and reduce dependence on diamonds. With the 2026 address approaching, questions remain over how far the government has progressed in delivering on those commitments. BABOLOKI MEEKWANE reviews some of the key promises made in 2025 and the progress reported towards fulfilling them.

The Botswana Economic Transformation Programme (BETP) is central to the government’s plan to diversify the economy and achieve high-income status by 2036. It targets 186 projects across nine priority sectors, with the aim of mobilising P514 billion in investment and creating 512,000 jobs.

The September 2026 mid-year review reported progress on legislative reforms, land delivery and efforts to remove administrative barriers. The Ministry of Finance acknowledged, however, that the projects could not all be implemented simultaneously.

With 60 percent of the projects led by the private sector, implementation depends heavily on commercial financing and investor confidence. The scale of investment required remains a challenge, raising questions about how quickly the programme can translate its targets into economic activity. The government has yet to provide a consolidated figure in the reviewed reporting showing how many of the projected 512,000 jobs have been created.

Some projects under BETP have shown traction in attracting investors and clearing regulatory hurdles. TEMCO Hospital Ecosystem is a planned 130-bed specialised general hospital to be developed within the airport zone near Sir Seretse Khama International Airport in Gaborone. The P2 billion healthcare development recently reported securing a formal investment commitment from Texas-based private equity firm Fiscal Innovation Private Equity.

Kemcore , which is planning to build a $ 140 million integrated battery mineral chemicals manufacturing facility was officially granted environmental clearance by the government and talks with financiers reported to be at an advanced stage

Agriculture: Five-million-cattle target faces a shrinking herd

The SONA prioritised agriculture, setting a target to increase the sector’s contribution to gross domestic product from two percent to at least six percent. It also set an ambition to expand the national cattle herd from 1.7 million to five million by 2030.

Preliminary figures from Statistics Botswana’s 2025 Agricultural Census highlight the scale of the challenge. The census recorded 1.6 million cattle, a 6.1 percent decline from 2015. Cattle births fell by 14.3 percent over the decade, while deaths increased by 30.7 percent. Reaching the five-million target will require reversing these trends and significantly expanding the national herd.

Milk Valley: Cattle imports advance, but self-sufficiency remains unproven

The SONA sought to increase domestic milk-production capacity from 13 percent to more than 60 percent by 2026, supported by plans to import 1,000 Girolando cattle from Brazil. Deliveries began with 186 pregnant cattle in July 2026, followed by 205 in early September and another 209 later that month, bringing the total to 600.

The arrivals represent progress towards the import target, but the available figures do not establish whether domestic milk production has increased sufficiently to meet the 2026 objective.

Industrial hemp: Pilot completed

The government had targeted pilot cultivation of industrial hemp by December 2025. In July 2026, President Boko announced that trials conducted by the National Agricultural Research and Development Institute had shown that industrial hemp could grow successfully under local climatic conditions. Commercial production remains subject to the development of the necessary regulatory framework.

Energy: Solar target met, but Morupule B remains unfinished

The SONA targeted more than 100 megawatts of grid-connected solar photovoltaic capacity by December 2025.

Botswana Power Corporation reported 109.3 megawatts-peak (MWp) of commissioned grid-connected solar capacity, including the 100 MW Mmadinare plant, which is operating commercially. Progress on solar power contrasts with delays at Morupule B, where remedial work on the final unit missed the December 2025 target. Completion of the wider remediation programme has been pushed to 2027.

Despite the delay, additional solar capacity and ongoing work at Morupule B have helped raise domestic electricity generation to 72 percent of demand. The government has also identified the 600 MW Mmamabula thermal power project as a major future source of electricity, targeting December 2027 for delivery.

Fuel security: Depot construction continues

The SONA put Botswana’s strategic fuel cover at 15 days and committed to expanding storage towards 90 days through projects in Francistown and Ghanzi . The Francistown depot, initially designed to expand storage capacity from 38 million to 98 million litres , had reached 88 percent completion by July 2026. Its expected delivery date has been pushed to April 2027.

Construction at the Ghanzi depot had reached 64 percent completion, up from 55 percent at the time of the SONA.

Government updates indicate that the two depots are expected to increase national fuel cover to 55 days in the first quarter of the 2027/28 financial year. The longer-term ambition of 90 days therefore remains outstanding.

Mining: De Beers ownership ambition meets fiscal constraints

The government committed to pursuing a larger stake in De Beers to increase local beneficiation and strengthen Botswana’s influence over diamond marketing. By October 2026, negotiations over Anglo American’s 85 percent stake in the diamond company remained ongoing. Botswana, which already owns 15 percent, had signalled its intention to acquire up to a further 25 percent, although the final ownership structure and financing arrangements remained unresolved.

The proposed acquisition also presents financial risks. In September, Moody’s Ratings cautioned that a debt-financed purchase could put pressure on Botswana’s sovereign credit rating. The ambition to secure a larger stake therefore remains dependent on the outcome of negotiations and the government’s ability to structure a financially sustainable deal.

Tourism: Concessions and lease renewals unlock investment

The SONA targeted a doubling of international tourist arrivals within five years and greater local participation in tourism concession leases.

The 2026/27 Budget Speech confirmed the allocation of five concession sites in Ngamiland and Makgadikgadi National Park. The sites attracted planned investment of P362 million and were expected to create 500 jobs.

Separately, the fast-tracking of 11 lease renewals covering 27 lodges in Ngamiland unlocked a further P800 million in potential investment while safeguarding more than 1,500 jobs.

These commitments point to progress in opening up tourism investment, although the planned investment and employment figures should not be confused with funds already spent or jobs already created.

Radisson Blu: Design contracts approved

The Radisson Blu hotel project at Gaborone’s Fairscape Precinct was scheduled to begin in April 2026, with a projected value of $50 million.

Botswana Development Corporation records confirm that project advisory, architectural design and interior design contracts were approved in June 2026. The respective appointments went to Maxima Capital Management, DHK Architects and Kontras .

The approvals indicate progress in project preparation, but the available records do not confirm whether physical construction began as scheduled.

Investment: Mercantile Exchange advances as wealth fund awaits capital

The government’s investment agenda included establishing a Sovereign Wealth Fund, the Botswana Mercantile Exchange and a National Retail Payment Switch.

The Botswana Mercantile Exchange made progress during 2026. It was licensed in March, launched its trading platform on March 31 and completed its first sorghum transaction on April 10.

The Sovereign Wealth Fund established governance structures but confirmed in August 2026 that no investment capital had been deployed.

Meanwhile, the Bank of Botswana established a special-purpose vehicle for the National Retail Payment Switch. However, a fully operational public platform had not been established by October.

The three initiatives have therefore reached different stages of development, with the Mercantile Exchange recording actual trading activity while the wealth fund and payment switch remain short of full operational delivery.

Infrastructure: Water projects face delivery pressures

The SONA reported progress on several water projects, although delays in payments to service providers remained a concern.

Reported completion levels varied considerably. Boteti South-Central Water Supply stood at 98 percent, Kanye Network Rehabilitation at 96 percent and Molepolole Water Treatment Plant at 80 percent. Werda/ Makopong was 50 percent complete, Dimajwe 30 percent and Sowa nine percent.

By March 2026, the Molepolole Wastewater Treatment Plant had reached 87 percent completion, with a revised October target. Associated supply pipelines stood at 51 percent.

The figures show that some projects were nearing completion while others remained at relatively early stages, highlighting the uneven pace of infrastructure delivery.

Social protection and education: Benefits increase, but targets remain unmet

The government expanded several social protection and education support programmes , although some benefits remained below the levels promised in the SONA. Old-age pensions increased from P830 to P1,400, falling short of the P1,800 target. Technical and vocational education and training (TVET) allowances rose from P300 to P1,900, below the promised P2,500.

The government also began paying the P300 monthly Child Support Grant for infants under one year in August 2026, with payments backdated to April 1. The grant represents a new form of direct support for eligible households, while the pension and TVET increases provide additional assistance without reaching the stated targets.

Ikageng : Public works programme faces administrative hurdles

The government restructured Ipelegeng into the Ikageng Public Works Programme , replacing the time-based relief model with a programme combining performance training . The new model was rolled out in April 2026.

By September, the North West District had engaged 25,992 beneficiaries, of whom 113 had completed trade qualifications.

However, the broader rollout encountered delays in project approvals, slow disbursement of funds and other administrative bottlenecks. The full rollout of the P2,500 promised salary has faced budget delays because implementing it nationwide requires over P1 billion. To bridge the gap, the government temporarily adjusted the basic allowance to P817 for labourers (and P901 for supervisors) by converting the previous P200 daily snack/meal allowance directly into the cash payout

The programme has begun reaching beneficiaries, but the reported training figures suggest that its skills-development component remains at an early stage.

Bonno housing: Financing delays constrain delivery

The Bonno National Housing Programme aimed to deliver 100,000 housing units over three years. Figures presented in the November 2025 SONA showed that 31,745 units had been contracted, with 5,880 under construction.

By the time of the 2026/27 supply statements, 62 low-income units were under construction under the Turnkey scheme, while 54 units had been completed and delivered.

Under the private-sector-led targeted scheme, 36,865 units remained at the mobilisation stage, with progress constrained by land servicing and financing challenges.

The figures point to a gap between the programme’s ambitious delivery target and the work that has progressed to construction or completion. The available figures also cover different stages of implementation and should not be treated as directly comparable measures of completed housing.

Forensic audit: P33 billion in potential losses identified, accountability remains in question

The forensic audit of 30 public entities covering the period from 2014 to 2024 was delivered on April 30, 2026.

The summary identified 814 instances of irregularities and 80 referrals for investigation. These involved contracts valued at P160 billion, with potential damages estimated at P33 billion.

The audit’s completion marked an important step in examining the management of public funds. However, questions have been raised about delays in acting on the findings and the accessibility of the material to investigative bodies.

The delivery of the report is distinct from the subsequent process of investigating allegations, establishing responsibility and recovering any losses. The available information does not establish the extent to which those steps have been completed.

Central Medical Stores: Medicine shortages persist

The SONA promised to restructure Central Medical Stores (CMS) and reform the medicines supply chain after severe shortages led to a public health emergency in 2025.

The government initiated emergency procurement through international agencies and the United Arab Emirates to replenish stocks.

Despite bulk deliveries, medicine availability across CMS averaged 42 percent as of September 23, 2026. Availability stood at 49 percent for vital medicines, 40 percent for essential medicines and 20 percent for necessary medicines.

These levels remained well below the December 2026 target of 97 percent, indicating that the supply challenges had not been resolved despite emergency procurement efforts.

National Health Insurance policy drafted

The National Health Insurance Secretariat presented a draft policy to private stakeholders in August 2026. This was followed by Parliament officially and unanimously adopting the National Health Insurance Policy of 2026

A 12-month pilot was scheduled before full rollout, as part of broader reforms to healthcare financing.

Youth employment: Promises meet labour -market realities

With youth unemployment at 38 percent, the Presidential Youth Empowerment Campaign promised to train young people in climate-smart horticulture, textiles, automobile maintenance and digital content creation.

The programme was to begin with 1,000 candidates before expanding to 10,000. Although partnerships were established, the total number of verified job placements remained unconfirmed.

Other initiatives had made more measurable progress. De Beers’ Diamond Entrepreneurship Programme , for example, enrolled 30 participants.

The available information shows activity in youth empowerment, but does not establish how far the initiatives have translated into sustained employment.

Education reform: TVET and curriculum changes advance

Parliament approved the National TVET Policy in 2026, with the aim of aligning vocational qualifications with industrial needs and public maintenance contracts.

The rollout of the science, technology, engineering, arts and mathematics (STEAM) curriculum under the General Education Curriculum and Assessment Framework (GECAF) also progressed through policy development.

Full classroom implementation will require continued teacher training and infrastructure upgrades. The policy and curriculum developments represent progress towards reform, but the available information does not establish the extent of implementation across schools.