As pandemic-induced base effects wear away, barring any global setbacks the sustained recovery in diamond demand will support the recovery of the Botswana’s mining industry and improve the country’s growth prospects, Rand Merchant Bank’s (RMB) mid-year Africa Economic Outlook projects.
RMB is the corporate and investment banking arm of FirstRand Bank Limited of which RMB and FNB Botswana are divisions. Given the improved prospects, Botswana’s growth momentum through to 2024 is expected to average 4.1 percent (4.2 percent in 2022, 4.0 percent in 2023 and 4.0 percent in 2024).
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