Economy of Botswana, Its People, Culture & Flag

Botswana is mainly made up of the ethnic Tswana group, who can be divided into eight tribes. In fact, the country even derives its name from this group. While 52 percent of the population resides in rural areas, the remaining section has abodes in urban areas; the majority of the population is concentrated in the eastern part of the country. Apart from Tswana group, several other people are also found, including a small section of San (Bushmen), who have inhabited the region for many centuries. Though English is the official languages, Setswana, the language of Tswana, is widely spoken.

Flag of Botswana

Economy of Botswana

Today, Botswana is the world's largest supplier of gem-quality diamonds, with two-thirds of the production meeting gem standards.

Diamonds account for four-fifths of Botswana's annual export revenue. After the diamonds were discovered in northern Botswana in the late 1960s, the first mine was opened at Orapa in 1971, followed by a smaller mine at Letlhakane.

In 1982 another mine was opened at Jwaneng, which went on to become the world's richest mine. Important deposits of copper and nickel found in the Selebi-Pikwe area are also exported, as well as soda ash and small quantities of gold. In the year 2001, some 20 million carats of gem-quality diamonds were extracted.

Apart from the diamonds, income is also derived from the export of labor to South Africa and also a slaughterhouse opened at Lobatse in 1954 helped modernize Botswana's livestock industry.
The livestock industry also has a fair share of contribution towards the economy.

In 2002 the number of cattle was 2.4 million; goats, 2.3 million; and sheep, 370,000. The estimated budget in 1997 included revenues of $2.2 billion and expenditures of $1.7 billion.