De Beers rallies local banks to support the midstream

Friday, May 05, 2023 | 320 Views |

Value add: De Beers’ activities support nearly 40 local firms and about 4,000 jobs in the diamond cutting and polishing sector

Diamond giant, De Beers, has urged local commercial banks to support the transformation of Botswana into a global centre for the precious stones by financing cutting and polishing factories located in the country.

De Beers’ executives recently held a diamond masterclass attended by high level officials from the country’s commercial banks, in an effort to sensitise them about the industry and the role played by financiers in better positioning Botswana globally.

The number of cutting and polishing firms in the country, who represent the diamond industry’s midstream, grew to 48 at the end of last year, from 21 in 2020 and less than five about 10 years ago.

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