Debswana prepares for possible economic recession

“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.