World Economic Forum: Botswana’s Mokgweetsi Masisi on why the youth, leapfrogging present a big advantage for the country’s growth

Botswana's President, Mokgweetsi Masisi, shared his insights on the country's growth potential during an interview with CNBC International at the World Economic Forum. Masisi emphasized the strategic approach Botswana is taking to enroll its people in the global economy, highlighting the advantages the country possesses for leapfrogging into modern technologies and bypassing the industrialization phases that more developed nations had to navigate. He underlined the benefits of Botswana's youthful population, seeing it as an opportunity for market growth, skill development, and energy optimization. Masisi expressed optimism about the country's favorable environment for development and the support it receives from international partners. One of the key advantages Masisi touched upon is the concept of leapfrogging. This strategy allows Botswana to skip over the traditional developmental stages and directly embrace modern technologies and practices. By avoiding the learning curves and mistakes experienced by more advanced nations, Botswana can accelerate its growth and seize new opportunities. The country's youthful population plays a crucial role in this transformation, offering a vast workforce that can drive innovation and progress for years to come. Additionally, Masisi highlighted the importance of political stability in fostering economic growth. Despite ongoing challenges from the opposition regarding the election results, Masisi reassured that Botswana upholds the rule of law, ensuring that disputes are settled through legal channels. This commitment to stability enables the government to focus on policy implementation and economic development without major disruptions. The interview also delved into Botswana's economic reliance on diamonds, which constitute a significant portion of the country's GDP. Masisi expressed the government's readiness to renegotiate agreements with De Beers, the leading diamond company, to secure better terms for Botswana. By prioritizing the country's interests in these negotiations, Masisi aims to maximize the benefits derived from this valuable natural resource. Furthermore, the conversation touched on the shifting dynamics of economic influence, with a spotlight on the rise of newer international players. Masisi emphasized the importance of aligning foreign investments with Botswana's development agenda, regardless of the source of capital. By putting Botswana's interests first and ensuring that investments align with the country's principles, Masisi aims to leverage external partnerships for sustainable growth and prosperity. In conclusion, President Mokgweetsi Masisi's vision for Botswana's economic future at the World Economic Forum reflects a strategic approach centered on leveraging the country's advantages, such as leapfrogging capabilities, a youthful population, and political stability. By capitalizing on these strengths and fostering beneficial partnerships, Botswana aims to position itself as a thriving hub for innovation and economic progress on the global stage.