To De Beers or not to De Beers? That is the question

Naturally, the section that has attracted the most attention—both in the media and among attendees—was my discussion on diamonds. In particular, I highlighted not only the fiscal pressures Botswana is currently facing due to weak diamond sales, but also the wider impact this has on our foreign reserves, our ability to pay suppliers, and even our currency.

One of the central questions I posed was whether it is the right time for Botswana to consider purchasing De Beers, given the current circumstances. Over the past few weeks, some of my remarks have been presented in the media under headlines that, while capturing certain elements, have not fully reflected the nuance or overall tone of my message. I therefore wish to clarify my thoughts more fully here.