|
|
Article: Diamonds are not forever: Botswana's status as the one of the world's most successful economies has largely been built on the revenues of its diamond mining industry. Now the country wants to broaden its economic base. (Botswana).
- Article from:
- African Business
- Article date:
- July 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Botswana has long been regarded as one of Africa's most successful economies. Prudent fiscal policies, targeted international assistance and the benefits of a diamond industry have all transformed what was one of the poorest countries in Africa.
Since independence in 1966, Botswana has enjoyed the world's highest average annual growth in GDP at around 9%. However, the events of the past couple of years have underlined the country's dependence upon diamond revenues and the government is at last beginning to look to broaden the economic base.
One of the government's main worries centres on the campaign again 'conflict diamonds'. While Botswana's own ...