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
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

Have a Story? Send Us a tip
arrow up