mmegi

Moody’s gives diamond deal a thumbs-up

Wednesday, August 16, 2023 | 1400 Views |

Handshakes and smiles: De Beers CEO, Al Cook and Minerals minister, Lefoko Moagi after clinching the deal recently PIC.DE BEERS BOTSWANA FACEBOOK

Credit ratings agency, Moody’s, has raised the Botswana Development Corporation (BDC)’s outlook to stable from negative, citing the expectation that the country’s economy will be boosted by the recent agreement in principle with De Beers.

As a wholly state-owned entity, the BDC’s credit rating is linked to government’s own outlook and the related forecasts around the country’s economic performance. In a recent update, Moody’s said the country’s economy was now projected to grow by 3.9% and 4.2% in 2023 and 2024 respectively, “partly driven by the new agreement in principle between government and De Beers.

The agency said the agreement is expected to increase the country’s share of diamond production, driving fiscal revenues higher and in turn bolstering economic activity.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Diamonds
BDC

BCP eyes student vote revival

Tsaone Basimanebotlhe | 2d ago

UB politics shapes future leaders

Tsaone Basimanebotlhe | 2d ago

DIS officers seek tribunal authority over Magosi

Mpho Mokwape | 2d ago

DIS officers reject Magosi’s defence over P7.4m payout

Mpho Mokwape | 2d ago

DIS in P 1.5m employees money theft accusation

Innocent Selatlhwa | 2d ago

Botswana bets on gas mining boost for flagging economy

Sello Motseta | 2d ago

Mupane creditors grow uneasy as appeal drags on

Lewanika Timothy | 2d ago

UDC NEC to reconvene post leadership changes

Tsaone Basimanebotlhe | 2d ago

Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

Mmegi Editor | 10 April 2026

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

Moody’s gives diamond deal a thumbs-up

Credit ratings agency, Moody’s, has raised the Botswana Development Corporation (BDC)’s outlook to stable from negative, citing the expectation that the country’s economy will be boosted by the recent agreement in principle with De Beers.

BCP eyes student vote revival

UB politics shapes future leaders

DIS officers seek tribunal authority over Magosi

DIS officers reject Magosi’s defence over P7.4m payout

DIS in P 1.5m employees money theft accusation

Botswana bets on gas mining boost for flagging economy

Mupane creditors grow uneasy as appeal drags on

UDC NEC to reconvene post leadership changes

Botswana must not be a flag of convenience for rogues