One% diamond business for Botswana in 40 years

They may have transformed Botswana from one of the poorest countries in the world at independence to a middle income economy, but many would be shocked at the revelations that the returns Botswana derived from the diamonds under the De Beers arrangement of 40 years were just a drop in the ocean, less than one percent of the total world diamond returns.

Until they entered into a new and revolutionary agreement with De Beers diamond company around 2006, Botswana's diamond returns were equivalent to just one percent of the world diamond trade valued at US 67 billion.

The founding coordinator of Botswana Diamond Hub, Dr Akolang Tombale, reflecting on his legacy as both the founding coordinator of the diamond hub, and the Permanent Secretaryin the Ministry of Minerals, Energy and Water Affairs, told Mmegi in a wide ranging interview yesterday that Botswana used to get only  $3bn from the world diamond industry.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

Have a Story? Send Us a tip
arrow up