ABN AMRO Bank Botswana to open in three weeks

Local diamond cutting and polishing firms who have been struggling with cash flow due to the global recession are said to be upbeat about the opening of ABN AMRO Bank Botswana on September 24.

The bank, which was recently granted a Botswana International Financial Services Centre (IFSC) accreditation, is to provide financial services to local and regional diamond industry players throughout southern Africa.  "The support of both the Botswana Government and diamond industry leaders around the world have been instrumental in reaching this 'new beginning' for our business in Africa, which will form further foundation for another promising project in the country, the creation of the regional Diamond Hub," the group CEO of ID&JG, Victor van der Kwast, was quoted as saying on Diamond Intelligence early this week.