Adesina lays down ground rules on Diamonds for Development

Friday, September 18, 2026 | 290 Views |

Gathering momenum: Adesina’s task is taking shape PIC: MBONGENI MGUNI

The P1 billion Diamonds for Development Fund will not be a first-come, first-served, free-for-all cash grab, but a catalytic investment vehicle for economic diversification says its founding chair. Development finance veteran, Akinwumi Adesina, speaks to MBONGENI MGUNI

The recent establishment of a secretariat and offices for the Diamonds for Development Fund has sparked excitement of an additional supporting mechanism for the country’s economic diversification and transformation hopes.

Powered by an initial investment of P1 billion by De Beers under its sales agreement with government, the Diamonds for Development Fund is designed to ensure that the benefits flowing from precious stones go beyond their lifespan and power broader economic transformation.

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