Diamond sales show recovery in H1
Mbongeni Mguni | Monday October 5, 2026 10:28
President Duma Boko and Minerals and Energy minister, Bogolo Kenewendo, headlined a high-profile event under the House of Botswana banner in New York last week, as part of continuing efforts to support a rebound in the precious stones.
“We are beginning to see what is possible when Botswana’s diamonds are marketed with conviction, and their story is told to the world,” Kenewendo said in a brief statement. “Our work is not yet done. “We must market natural diamonds aggressively, tell the Botswana story more boldly, and make sure consumers understand the people, places and purpose behind every stone. Visibility alone is not the finish line. “It must translate into sustained demand and greater value for Batswana.”
The Desert Diamonds campaign, championed by De Beers, is paying dividends, with strong sales of the warm-toned natural diamonds. Estimates emerging from New York indicate that this segment grew 14.7% in the US this year.
Kenewendo added that India presents a growing opportunity, whilst China remains a market that will require sustained work.
In New York, Botswana marked 60 years of independence with '60 Jewels of Botswana: The Diamond Story', a House of Botswana exhibition connecting the country’s natural diamonds to its development and its ambitions for the industry’s future.
The exhibition formed part of the Presidential Diamond Jubilee Celebration on September 24. It brought Botswana’s diamonds before an international audience of jewellers, designers, investors, cultural leaders and media at a time when the sector is looking for signs of recovery.
During a fireside conversation with TIME chief executive officer, Jessica Sibley, Boko acknowledged the difficult period the diamond industry has faced but expressed confidence that the downturn would pass and demand for natural diamonds would rise again.
“Beware of the power of the bounce back,” Boko said. “The sparkling, scintillating stone is bouncing back!”
Boko said the value of diamonds cannot be measured only by the price of a stone or the latest sales figures.
“For Botswana, this precious stone is more than a commodity. “That is why we defend its originality, rarity, and enduring value,” he said.
Botswana has partnered with fellow African diamond producers, Namibia, South Africa and Angola, as well as De Beers and the Natural Diamond Council on a global marketing campaign to lift demand for the stones.
Known as the Luanda Accord and signed in June last year, the countries and companies pledged to set aside one percent of their annual revenues from diamond sales to a marketing campaign run by the Council.
Diamonds remain important to the country’s budget and foreign exchange receipts, although efforts are accelerating to structurally transform the economy to a more diversified base.