Botswana eyes energy sector for economic growth as diamond industry regresses
Botswana’s government is turning to the energy sector as a potential revenue driver as persistent challenges in the diamond industry continue to impact the economy.
Vice President and Finance Minister Ndaba Gaolathe highlighted the administration’s ambitious plans to accelerate the country’s renewable energy transition.
Gaolathe referenced the previous administration’s Integrated Resource Plan, which set targets of 30% renewable energy by 2030 and 50% by 2036. However, he assured the nation that the new government intends to surpass these targets within a significantly shorter timeframe. “As the incoming government, we are setting our sights even higher,” he stated. “I won’t specify percentages, but we are aiming beyond previous ambitions because our people envision more,” Mmegi Online reports.
Recognising Botswana’s immense solar energy potential, Gaolathe noted that the country ranks third globally for solar radiation exposure, receiving approximately 3,200 hours of sunshine annually.
“With this resource, there is no reason Botswana cannot become a hub for solar-generated power,” he asserted.
He reiterated the country’s commitment to reducing its carbon footprint by 15% by 2030 but stressed the need for flexibility to balance economic growth with environmental commitments.
The vice president also mentioned the government’s dedication to research and development, particularly in science and renewable energy.
The 2020 Resource Plan projected an increase in national power supply by over 1,200 megawatts, with several projects already in progress.
However, Gaolathe believes these projections underestimate Botswana’s true potential.
He further outlined the government’s strategic shift from coal-powered energy towards a solar-dominated industry. “Another important aspect of our diversification drive is the modernisation of the power sector, with a strategic shift towards a solar-dominated energy industry,” he emphasised.
“Solar energy presents a remarkable opportunity for our nation. With abundant sunshine throughout the year, Botswana is ideally positioned to harness this clean and sustainable resource to power our households, industries, and communities,” Gaolathe concluded.
