Botswana Development Corporation has appointed Oteng Keabetswe as its substantive managing director, effective 1 February 2026, as the state-owned investment institution accelerates its transition into a more active, impact-led development financier.
The appointment follows a six-month caretaker period during which Keabetswe oversaw a strategic shift away from a traditional balance-sheet-driven model toward a catalytic investment platform designed to crowd in private capital and deliver measurable economic and social returns, the corporation said in a notice published on Friday.
BDC said the repositioning is aligned with Botswana’s economic transformation agenda and focuses on deploying capital into priority sectors while strengthening private sector participation. Under Keabetswe’s leadership as caretaker managing director, the corporation sharpened its focus on transformative investments aimed at improving national competitiveness and long-term economic resilience.
During this period, BDC executed more than P600 million in capital recycling transactions, releasing capital for redeployment into higher-impact domestic investments. It also deployed USD 10 million into Letshego Holdings through a structured impact facility intended to expand access to inclusive finance and enterprise development.
Keabetswe also oversaw the establishment of the Unity Healthcare Botswana Partnership Fund, which targets local manufacturing, supply chain localisation and the domestic production of essential medicines and healthcare inputs to reduce import dependence and strengthen national health security.
Looking ahead, BDC said its next phase will prioritise food security, healthcare supply chains, industrial manufacturing, energy and infrastructure. These investments will be anchored by sustainable, long-term programmes with a stronger emphasis on partnerships that bring skills, technology and long-term capital into Botswana.
The corporation reiterated that its mandate remains the support of commercially viable investments that enhance economic resilience, deepen private sector participation and position Botswana as a more competitive destination for regional and global capital.