Debswana prepares for possible economic recession

Jwaneng Mine PIC: MORERI SEJAKGOMO
Jwaneng Mine PIC: MORERI SEJAKGOMO

Debswana is drafting plans to survive a possible global recession this year, a sign that the country’s single most important economic commodity is taking the rising fears of a slowdown in global and economic activity very seriously.

“The business has started preparations for recession planning in anticipation of a global recession in 2023 which will no doubt adversely affect the sales of diamonds in our major markets,” Debswana managing director, Andrew Motsomi said in a letter to employees, made public this week. “Updates on this exercise will be given across operations as the situation unfolds,” he said.

However, Motsomi did not provide further details of what the diamond giant intends to do should demand for rough diamonds drop and instead sought to rally his troops.

Editor's Comment
Government’s efforts commendable!

Since the news broke, the government made sure to work hand in hand with the South African government to assist the families of the victims. The two countries came together to help the families identify the bodies of their loved ones through DNA testing. The government also announced that they would assist families with food for mourners before the funerals.Even though the deceased persons were mostly residents of Molepolole, the government...

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