Diamond sales rebound ahead of Monday�s budget

De Beers has reported a more than double jump in diamond sales at its first sale of the year held in Gaborone last week, a development that is likely to boost fiscal authorities’ annual revenue projections ahead of Monday’s 2016/17 budget presentation.

De Beers, which is entitled to sell 86 percent of Debswana’s annual production, and hand 80 percent of that revenue to government, sold $540 million (P6.3 billion) worth of diamonds last week.

This represented a 117 percent leap with De Beers having recorded sales of $248 million in its last sale of a challenging 2015.

Editor's Comment
The Boko-led administration has to tread carefully

‘When you make peace withyourself, you make peace with the world’- Maha GhosanandaThis may come at a huge cost if not handled properly. What started off on Labour Day in Letlhakane this year, where Boko was in attendance when the militant lawyer-cum-trade unionist, Robert Rabasimane rebutted the President’s address in defence of the trade union has seemingly spiralled out of control. The issue is now creating a cat-and-mouse type of a...

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