Barclays renews appetite to finance diamond traders

Sunday, May 15, 2016

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.

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