12 Jun 2025

The volatility of the diamond industry, in particular the natural diamonds, needs the voice of the World Federation of Diamond Bourses (WFDB) more than ever before. 

Minister of Minerals and Energy, Ms Bogolo Kenewendo made these remarks on Tuesday during a gala dinner to mark the closing ceremony of the 2025 World Federation of Diamond Bourses Presidents’ meeting in New York, United States of America Tuesday. 

“Since its foundation in 1947, the WFDB has served as a conscience of our sector, a defender of ethical trade, a guardian of trust and a huge force throughout various jurisdictions," she said.

 As an entity that has been steadfast in matters concerning diamonds for many years, Minister Bogolo said the time to rise yet again and with vigour to the contemporary challenges faced by the organic diamond was now.  She assured the organisation of the full backing and support of the government of Botswana, which had taken the bull by the horns in a quest to fight for the natural diamonds, which had been the lifeblood of the Southern African nation for decades. 

Additionally, Ms Kenewendo assured WFDB that Botswana was more committed than ever to the standards and commitments of the organisation. The volatile situation faced by natural diamonds, she stated, further called for a concerted effort from all to resuscitate the ailing diamond industry. She further said aspects such as defending natural diamonds, working on differentiating natural gems from their synthetic derivatives, and consumer education should be at the forefront of efforts to stem the tide. 

“In Botswana, a natural organic diamond stands for possibility from the very first discovery of the gems in 1967. Diamonds have built lives, dreams, infrastructure and transformed the country tremendously”, she said, adding that the transformative story of the socio-economy of people transcended Botswana’s borders. 

The impactful story of the natural diamond, she underscored, was far-reaching and went beyond the jurisdictions of diamond-producing nations. 

“The ripple effect of these stones has created generational wealth for people in the United States, India, and many other countries. Based on the undeniable contribution diamonds have made to the lives of people worldwide," Ms Kenewendo said.

As such, she stressed that the natural diamonds could not be allowed to lose value as a result of synthetics that did not resonate with changing lives on the same scale as organics. 

“Natural diamond is a catalyst for economic and social upliftment,” she said, calling on industry players to start creating demand for the commodity by engaging consumers on what organic diamonds stood for.

 Founded in 1947, the WFDB is an association of the world’s major diamond bourses and promotes the interest of the member bourses.  As the official organisation of the international diamond training sector, the WFDB establishes a standard set of trading practices for rough and polished diamonds. ENDS