Barclays renews appetite to finance diamond traders

Bullish: Van der Merwe
Bullish: Van der Merwe

At a time when most financers are trimming exposure in the diamond sector, Barclays Bank Botswana has expressed a fresh appetite to finance rough purchases by local diamond cutting and polishing firms.

Local diamond manufacturers bought diamonds worth $500 million from De Beers last year, which was a 46 percent decline from the 2014 supply.

At least 22 sightholder firms are licensed to buy diamonds from De Beers in Gaborone for cutting and polishing before export.

Editor's Comment
Batswana need to do better to stop FMD

It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...

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