Debswana unfazed as diamond market slumps

Debswana is the world’s largest producer of diamonds by value and a key economic entity, contributing about a fifth of the gross domestic product (GDP) and about two thirds of foreign currency revenues.

De Beers, which holds 50% equity in Debswana alongside government, has recently noted a slump in sales of rough diamonds due to high inventory levels in the market’s midstream, a segment that includes cutting and polishing firms as well as jewellery manufacturers.