Kenewendo sees hopeful signals in diamonds

A downturn in diamond sales and associated productivity since the third quarter of 2023 has largely been responsible for two consecutive contractions in the economy. The slowdown has also deepened budget deficits, drained government savings, triggered a financial sector liquidity crunch and also accelerated a pile-up in public debt.

Responding to the 2026 Budget Speech on Monday, Kenewendo said that whilst the country needed to accelerate its transformation agenda, diamonds, as challenged as they are, continue to play a significant role in the economy.