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

De Beers’ new owner should be the one who can fix it

Mbongeni Mguni | 02 December 2025

New pathways: De Beers’ shareholding is set to change

Kimberley Process reaches its sink or swim moment

Mbongeni Mguni | 21 November 2025

Tough ask: KP delegates during their meeting in Kasane in 2022. Proposals for a debate on Russia and reforms were shot down through a veto PIC: KPCS COM

To De Beers or not to De Beers Part 2: An investment analyst perspective

Mphoeng Mphoeng | 14 November 2025

Grinding on: Debswana contributes about two-thirds of De Beers’ annual output PIC: DEBSWANA

By-elections often arrive quietly, triggered by unfortunate circumstances such as the death of the area councillor PIC: KENNEDY RAMOKONE

Moremaoto votes, parties face reality

Tsaone Basimanebotlhe | 1 h ago

High Court orders ZCC Botswana to reunite

Laone Choeunyane | 1 h ago

Day 3: Search for Maun missing boy continues

Staff Writer | 2 h ago

Long 1,900km drive awaits netball teams

Calistus Kolantsho | 2 h ago

Ngada to pip seasoned campaigners for AFCON place?

Kabelo Boranabi | 2 h ago

Oneal R&B orchestra shares African story

Lucy Kgweetsi | 2 h ago

Yarona FM to host Just Kidding Fam Fest

Nnasaretha Kgamanyane | 2 h ago

Softball Spectacular to quench players’ thirst

Calistus Kolantsho | 2 h ago

Depression is real; let's take care of our mental health

It is not uncommon in this part of the world for parents to actually punish their children when they show signs of depression associating it with issues of indiscipline, and as a result, the poor child will be lashed or given some kind of punishment. We have had many suicide cases in the country and sadly some of the cases included children and young adults. We need to start looking into issues of mental health with the seriousness it...

The Monitor Editor | 02 December 2025

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.