President of Botswana Briefs Citizens on New Diamond Deal, Chema Chema Loans, and Hemp Policy

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Botswana President Duma Boko held a press conference to share important updates on key national issues, including a new Diamond Sales Agreement with De Beers, the cancellation of Chema Chema loans, and the advancement of hemp regulation in the country.

Regarding the Diamond Sales Agreement, President Boko reassured citizens that the deal with De Beers was designed to maximise benefits for Botswana. He highlighted that this agreement would lead to increased returns from the diamond sector, bolstering the nation’s economy while promoting job creation and sustainable development. He reaffirmed the government’s commitment to transparency in managing the country’s mineral resources for the benefit of all Batswana.

In a significant relief for many, the President announced the official cancellation of Chema Chema loans. Originally introduced to support small businesses and entrepreneurs, these loans will now be treated as grants, meaning recipients will no longer need to repay them. President Boko emphasised that this decision aims to reduce the financial strain on citizens and foster economic empowerment.

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Additionally, President Boko disclosed that the government has begun finalising the licensing and regulation of hemp production in Botswana. He explained that this initiative seeks to create economic opportunities in both industrial and medicinal sectors. The regulation of hemp is anticipated to attract investments, generate jobs, and contribute to economic diversification. The President assured the public that strict guidelines would be implemented to ensure responsible production and use of hemp products. These announcements represent significant policy changes under President Boko’s leadership, aimed at boosting economic growth and enhancing the livelihoods of Batswana.