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Kenewendo sees hopeful signals in diamonds

Not an either or: Kenewendo says the economy needs both transformation and diamonds, which are beginning to sparkle again PIC: MBONGENI MGUNI
Not an either or: Kenewendo says the economy needs both transformation and diamonds, which are beginning to sparkle again PIC: MBONGENI MGUNI

Minerals and Energy minister, Bogolo Kenewendo, says a “brighter, more sparklier” future is ahead for diamonds, given the heavy investment by Botswana and other partners in joint marketing, as well as a warm-up in demand.

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.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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