Absa Botswana Calls for Mining Sector Evolution to Power Economic Diversification

Absa Botswana Calls for Mining Sector Evolution to Power Economic Diversification. Botswana’s mining industry, a key driver of the nation’s growth for decades, must now transform to play a broader role in the country’s economic diversification. This was the central message from Keabetswe Pheko-Moshagane, Managing Director of Absa Bank Botswana, who underscored the importance of moving beyond extraction toward value creation across multiple sectors.

Pheko-Moshagane noted that Botswana’s mining sector has the potential to fuel new industries if it embraces local beneficiation, innovation, and sustainability. She highlighted opportunities in industrialisation, manufacturing, renewable energy, and technology-driven sectors, where mining-linked investments could generate new business growth and job creation.

“The sector must evolve to drive broader economic value,” she said, emphasising that a forward-looking approach would position Botswana as a regional hub for sustainable resource management and advanced industry development.

Pheko-Moshagane further pointed to the crucial role of financial institutions in supporting this transition by providing access to capital, innovative financing models, and capacity-building for emerging entrepreneurs. She stressed that a strong partnership between government, the private sector, and local communities is essential for building an inclusive and resilient economy.

For Botswana’s entrepreneurs and small businesses, this evolving vision of the mining sector could open pathways for participation in supply chains, value-added processing, and green innovation. As global markets shift toward sustainability, enterprises that align with environmentally responsible and technology-enabled mining practices are likely to benefit.