Debswana, the country’s economic engine, is one such company that has long realised that to survive the next wave of disruption, it must reinvent itself. As a company, which incidentally turns 54-years-old today (Friday), Debswana has entrenched itself deep within the global mining sector, establishing itself as the producer of the highest valued diamonds in the world. Achieving such a feat, according to Debswana executive, Tefo Setlhare was the result of a continuous endeavour to unearth the best from both people and the ground. Setlhare was speaking recently at a Botswana Insurance Company Thought Leadership Forum. As the world experiences a disruption in business models due to the development and deployment of a plethora of technological advancements such as Artificial Intelligence (AI), companies are redefining their philosophy and reincarnating, ready for the new wave of disruption, said Setlhare. He believes that Debswana will emerge as a leading corporation after the rising tide of AI settles in Botswana. “With our experience in mining for over 50 years, we have amassed a lot of skill, experience, capabilities and knowledge on the mining of diamonds,” Setlhare says.
According to Setlhare, the company has identified development of human capital as the next set of “diamonds” for the country, alongside commercialising the skills that have helped Debswana to build to a multinational scale at which they operate. “As a company we have set up Naledi Services Company, a 100% wholly owned company by Debswana, as a testament to the fact that we have world class mining skills that Debswana can leverage in pursuit of its strategic objectives and to also develop the mining industry,” he said. He continued: “Furthermore, in the long-term, a consideration can be made of how we can optimise the experience and knowledge that we have amassed over time and possibly even export it as part of the knowledge economy.”
