Botswana President Mokgweetsi Masisi conceded defeat following normal elections Wednesday, ending practically six a long time of rule by the Botswana Democratic Get together, or BPD. Partial outcomes indicated that the primary opposition social gathering, Umbrella for Democratic Change, or UDC, was on monitor to win a majority of seats in Parliament, which elects Botswana’s president. (AP)
Our Take
The BDP has ruled Botswana for the reason that nation gained independence from the U.Okay. in 1966, largely as a result of it had gained a fame for good governance. For a lot of a long time, Botswana was held up as a counterexample to the “useful resource curse,” with the nation using its large diamond exports for constantly robust growth, whereas sustaining its democratic credentials.
However there have been already issues in regards to the power of that fame heading into this vote. A world decline in demand for diamonds has hit Botswana’s financial system onerous, and unemployment is on the rise, reaching practically 28 p.c general and 38 p.c amongst younger folks. That speaks to how resource-based growth, even when comparatively well-managed, could be a double-edged sword, leaving international locations that rely on it on the mercy of the inevitable busts of the commodities cycle.
