05 Nov 2019

Botswana and Debeers Group are currently in negotiations for the next sale agreement set for implementation in 2020 when the current one expires.

President Dr Mokgweetsi Masisi told the 5th diamond conference in Gaborone November 5 that 2019 was the 50th anniversary of government-Debeers partnership.

The partnership, he said, had grown from strength to strength over the years and had in the process elevated Botswana’s economy to its current status.

President Masisi commended Debeers for its pledge to mine responsibly, to ensure that where diamonds were found, they played an important role in job creation and improvement of education and healthcare.

He said the diamond beneficiation strategy was envisaged to enable citizen participation in the diamond value chain and equip citizens with appropriate industry skills as well as incubate citizen businesses. 

“We need to move further into jewelry, manufacturing and retail, with a view to promote Gaborone as a diamond city and Botswana as the number one diamond destination,” he stated.

The President called on the diamond sector to pay particular attention to the ever changing consumer landscape, including consumer tastes and trends as influenced by technology and social media.

“Consumers are increasingly becoming aware of international social issues and they are demanding responsible business practices, therefore consumer behaviour is important to my government and Debeers, which calls for utilisation of existing technologies and the creation of new ones to respond to the emerging diamond consumption patterns,” he stated.

  President Masisi also implored the diamond sector to make communities within mining areas part of the process in the diamond value chain.

He underscored the need for development of better ways of shaping the industry to contribute to the sustainability of the economies of their partner communities. 

“In this regard, we have an obligation to make robust business processes that accommodate the interests of these communities in the entire scheme of diamond mining and production,” he said. 

Debeers Group chief executive officer, Mr Bruce Cleaver noted the dawn of a new diamond world underpinned by new social behaviours, trends and norms.    

“With the right investments and right marketing strategies, demand for diamonds should continue to increase, with millennials and generation ‘Z’ reaching an age of financial maturity and female self-purchase at an all-time high,” he said.

He predicted a bright future for the diamond sector, despite forecasts of lower global supplies.

“The new diamond world will be alive with opportunities but the way in which we capture those opportunities will need to change,” he emphasised. 

This year’s conference brought together international and regional leaders in the diamond sector to engage on fundamental matters impacting, challenging and inspiring the industry. ENDS