Africa’s diamond powerhouse abandons 2028 AFCON hosting bid amid efforts to cut spending

Botswana, Africa’s diamond powerhouse and one of the world’s biggest producers of rough diamonds, has pulled out of a joint bid with South Africa and Zimbabwe to host the 2028 Africa Cup of Nations after the government declined to provide the financial guarantee required for the tournament.

• Botswana has withdrawn from a joint bid with South Africa and Zimbabwe to host the 2028 Africa Cup of Nations.
• The government prioritized other financial needs over hosting AFCON, though football authorities saw the decision as a missed opportunity.
• Botswana's exit leaves South Africa and Zimbabwe to continue their bid with CAF.
• Falling diamond exports - Botswana's main source of revenue, have led to fiscal deficits, declining reserves, and rising public debt.

Sources cited by Botswana newspaper Mmegi said the government viewed hosting AFCON as not being a priority amid financial constraints, while football authorities regarded the withdrawal as a missed opportunity because the cost and hosting responsibilities would have been shared across three countries.

“There is disappointment because this was a good opportunity to host, given that the hosting load would have been shared among three countries,” a source told Mmegi.

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Botswana’s withdrawal means South Africa and Zimbabwe will now continue the hosting process with the Confederation of African Football (CAF), after Botswana failed to submit the required bidding documents before the September 14, 2026 deadline.

The country had previously made an unsuccessful bid for the 2027 AFCON, with hosting rights eventually awarded to the joint East African bid of Tanzania, Kenya and Uganda.

Botswana’s diamond wealth is facing a new reality

The decision comes as Botswana grapples with a prolonged downturn in the global diamond market. Diamonds typically account for about one-third of government revenue and three-quarters of the country’s foreign-exchange earnings, according to Reuters.

The African Development Bank has also warned that falling diamond exports have weakened Botswana’s growth, fiscal balances and external position, contributing to widening fiscal deficits, declining foreign-exchange reserves and rising public debt.

The scale of the industry's slowdown is visible in production figures. De Beers reported that Botswana's rough-diamond production fell 16% in 2025 to 15.1 million carats, from 17.9 million carats a year earlier. Fourth-quarter production plunged 56% year-on-year to 1.88 million carats, partly because of maintenance shutdowns at the Jwaneng and Orapa mines.

Botswana's fiscal position has improved from the government's original 2026/27 forecast, but remains under pressure. Finance Minister Ndaba Gaolathe said in September that the projected budget deficit had been revised down to P9.26 billion, or 3.1% of GDP, from P26.35 billion, or 8.9% of GDP, projected in February.

He nevertheless warned that containing expenditure remained critical because structural fiscal pressures had not disappeared.

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What Botswana could have gained

Hosting even part of AFCON could have given Botswana an opportunity to channel thousands of visitors into its tourism and services economy while showcasing the country to a global audience.

The 2023 tournament in Côte d’Ivoire generated an estimated $1.52 billion in local economic impact, with $86.5 million in retail and tourism revenue and more than 1.2 million stadium attendees.

Botswana would not necessarily have captured anything close to that amount because its role would have been smaller and shared with South Africa and Zimbabwe.

But the three-country structure also meant the country could potentially capture tourism, hospitality and business benefits without bearing the entire cost of hosting a 24-team tournament.