Botswana's government is eyeing deriving economic benefits from a monument proposed to be built in Botswana's second-largest city in honour of the founding leaders of Namibia.

This comes as the southern African country seeks alternative income streams for the cash-strapped administration of President Duma Boko, following declining diamond sales on the international market.

The monument, expected to be built in Bluetown – where Namibia's founding leaders Sam Nujoma, Hifikepunye Pohamba, Hage Geingob and Nangolo Mbumba were once accommodated – will be turned into a tourist attraction.

Botswana's Minister of Environment and Tourism, Wynter Mmolotsi, said the development has the potential to drastically improve the country's gross domestic product, currently estimated at 5.1%.

As more cultural tourism options are offered, Botswana looks to charm visitors with monuments such as the one proposed, which talks to the historical friendship and ties between Botswana and Namibia.