This paper presents a case study from Ngamiland, northern Botswana, where community-based natural resource management (CBNRM) has been implemented through an ecotourism joint venture between a community-based organisation (CBO) and the private sector. CBNRM is intended to promote sustainable development, by contributing to local poverty alleviation and livelihood diversification through wage employment and CBO fee revenue. The findings in this case suggest that wage revenue and subsequent remittances make a more significant contribution than fee revenue to household poverty alleviation and livelihood diversification. The objective of sustainable tourism development is only partly met by these community benefits. Keywords: tourism, conservation, community-based natural resource management, Botswana.