ODC debuts diamond sales to citizens


State-owned diamond trader, the Okavango Diamond Company (ODC), will next month start setting aside an allocation of diamonds for exclusive sale to citizen enterprises, helping Batswana into an industry where they have battled against more capitalised and experienced international entities.

ODC conducts 10 auctions of rough diamonds each year, attended by buyers from across the world who bid on an auction basis for the different sizes and types of stones on offer.

The company sources its diamonds from an annual 25% allocation of Debswana’s production, a figure expected to rise to 30% this year when the new deal between the government and De Beers kicks in. The ODC sells its stones on a spot auction basis, where buyers registered on its books bid for parcels on a competitive basis.

Editor's Comment
Bravo police for prompt action

It is also hurting that whilst we all know that the Botswana Police Service (BPS) is charged functionally with the duties to investigate all forms of crime, some locals have resorted to taking the law into their own hands. It is very wrong to do that. There is also a possibility that one may wrongfully take the life of a person in the process, unless it is a justifiable case of self-defence. Recently, in the city of Francistown, some locals found...

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