Debswana's economic impact reached P18bn in 2018

Jwaneng Mine is the world's richest value
Jwaneng Mine is the world's richest value

Debswana’s contribution to the economy rose seven percent to US$1.73 billion (P18.4 billion) in 2018, helped by the highest production figures for the mines since 2014. On Wednesday, Anglo American, the controlling shareholder in De Beers, revealed that Debswana’s total economic impact was higher across nearly all the individual factors calculated to measure the diamond giant’s contribution. 

These factors include taxes paid including royalties, procurement, wages, capital investment and corporate social responsibility.

The report covers Anglo American’s economic impact contributions in the 12 countries it operates in around the world. In Botswana, Anglo’s impact is through its 85% holding in De Beers, which in turn holds 50% equity in Debswana.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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