ADVERTISEMENT

Investing

Early Botswana Vote Tallies Point to Shock Loss For Ruling Party

An electoral official marks the tally sheet during the vote count in Gaborone. Photographer: Monirul Bhuiyan/AFP/Getty Images (Monirul Bhuiyan/Photographer: Monirul Bhuiyan/AF)

(Bloomberg) -- Early results from Botswana’s election point to the party that has ruled the diamond-rich nation for the past 58 years losing its grip on power.

With votes tallied from 16 parliamentary constituencies, the opposition had won all the seats, including several held by the President Mokgweetsi Masisi’s Botswana Democratic Party, official results released by the electoral commission show. Under Botswana’s constitution, the party that controls the 61-seat legislature has the right to select a president and form a new government.

The BDP controlled 38 seats in the previous parliament and was widely expected to retain its majority, which would have handed Masisi his second and final five-year term. Its popularity may have been eroded by an economic slump triggered by a downturn in the diamond market, which generates the bulk of government revenue and export earnings.  

The Umbrella for Democratic Change, an opposition coalition led by Harvard-trained attorney Duma Boko, secured nine seats and the Botswana Congress Party five, the early results show. The remaining two went to the Botswana Patriotic Front, which is aligned to former President Ian Khama. 

Results from local council elections released earlier Thursday also indicated a loss in support for the BDP, which has held power in the southern African nation since independence from the UK in 1966.  

Final results from Wednesday’s election are expected to be announced on Friday. 

Botswana is the world’s largest producer of rough diamonds by value, with almost all of its gems mined by Debswana — which is jointly owned by the government and De Beers. Global diamond sales have been impacted by oversupply, poor demand from the crucial Chinese market and pressures from lab-grown gems.

Sign up for the twice-weekly Next Africa newsletter for the latest business and economic news from the continent.

--With assistance from Arijit Ghosh.

©2024 Bloomberg L.P.