Diamond sales drop 46% in 2024

Last year’s performance is the worst since COVID-19 when sales dropped to P23.7 billion. However, in terms of percentage drop, the 46% fall in 2024 appears to be amongst the steepest on record.

Debswana accounts for more than 95% of the country’s diamond sales and is a major contributor to both the budget and liquidity in the financial markets. The diamond group, owned equally by government and De Beers, sells the bulk of its production to the De Beers ecosystem and 25% to the state-owned diamond trader, Okavango Diamond Company.