Diamonds for Development Fund targets economic diversification

Paul Rowley PIC: KENNEDY RAMOKONE
Paul Rowley PIC: KENNEDY RAMOKONE

The recently ratified diamond deal governing the relationship between the government of Botswana and De Beers is set to see an injection of P10 billion into a Diamonds for Development Fund to support value creation across different sectors.

De Beers officials said this week during their interim financial results presentation that they expect the fund to target non-mining sectors of the economy to reduce mineral dependence.

The two parties have been engaged in increasingly tense negotiations since 2019, with government pushing for greater concessions that will enable the country to participate deeper down the diamond industry’s value chain, where activities such as cutting and polishing, as well as jewelry design and retail, produce greater values than mining.

Editor's Comment
Government’s efforts commendable!

Since the news broke, the government made sure to work hand in hand with the South African government to assist the families of the victims. The two countries came together to help the families identify the bodies of their loved ones through DNA testing. The government also announced that they would assist families with food for mourners before the funerals.Even though the deceased persons were mostly residents of Molepolole, the government...

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