President Advocate Duma Boko yesterday afternoon held a press conference where he provided key updates on significant national matters, including the newly signed Diamond Sales Agreement between Botswana and De Beers, the cancellation of Chema Chema loans, and the progress toward hemp regulation in the country.
Speaking on the Diamond Sales Agreement, President Boko assured the nation that the deal with De Beers was structured to maximize benefits for Botswana. He emphasized that the agreement would ensure greater returns from the diamond industry, strengthening the country’s economic position while fostering job creation and sustainable development. He reiterated the government’s commitment to transparency in managing the country’s mineral wealth for the benefit of all Batswana.
In a major relief to many citizens, the President announced that the Chema Chema loans had been officially cancelled. Initially introduced as financial assistance for small businesses and entrepreneurs, these loans will now be considered grants. This means that those who had taken them will no longer be required to repay them. President Boko stated that the move was aimed at alleviating financial burdens on citizens and promoting economic empowerment.
Additionally, President Boko revealed that the government had commenced the process of finalizing the licensing and regulation of hemp production in Botswana. He noted that the initiative was designed to unlock economic opportunities in both industrial and medicinal sectors. The regulation of hemp is expected to attract investment, create employment, and contribute to the diversification of the economy. The President assured the nation that the government would put in place strict guidelines to ensure responsible production and use of hemp products.
The announcements mark significant policy shifts under President Boko’s administration, reflecting efforts to enhance economic growth and improve the livelihoods of Batswana.
