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
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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