19 May 2026

Botswana aims to close the gap between being a diamond-producing nation and a global trading centre by building stronger trading ecosystems and value chains that deepen economic participation and contribute to global GDP growth.

Addressing the World Federation of Diamond Bourses Summit in Gaborone on Monday, Minister of Minerals and Energy, Ms Bogolo Kenewendo said Botswana’s natural diamonds remained central to ambitions of growing trade, tourism, technology, entrepreneurship, beneficiation and long-term national prosperity.

In addition, she said Botswana was determined to localise more of the diamond value chain, arguing that diamonds should leave the country not only as rough stones but also as brands, craftsmanship, technology, investment opportunities and jobs created domestically.

“Diamonds cannot simply leave Botswana in their roughest form. They must leave Botswana as stories, as brands, as craftsmanship, as technology, as an investment, as luxury and as jobs that have been created here at home,” she said.

Ms Kenewendo further said Botswana’s diamonds represented not only geological history but also a development story in which natural resources had been responsibly used to uplift citizens. 

She described Botswana diamonds as responsibly sourced, ethically mined and conflict-free, qualities increasingly demanded by global consumers.

Thus, she emphasised the need to protect the integrity and market position of natural diamonds against competition from lab-grown alternatives.

“We must continue defending the integrity of our natural diamonds, strengthening category marketing, and educating consumers of the unique value of a product formed naturally over years and not in a lab. A product whose rarity, authenticity, and emotional significance cannot simply be replicated,” she said.

Meanwhile, Executive Chairperson and CEO of Dubai Multi Commodities Centre, Mr Ahmed Bin Sulayem said Botswana had become a global model for responsible diamond development and demonstrated how natural diamonds could drive sustainable national transformation.

“Natural diamonds are economic assets that support livelihoods, infrastructure and long-term national transformation not just luxury,” said Mr Sulayem.

He noted that the diamond industry faced short-term challenges including tighter financing conditions, but said long-term prospects remained strong because mines retained strategic reserves and profitability.

Mr Sulayem said the future of the industry depended on regulated and transparent ecosystems built around traceability, tokenisation, skills development and institutional alignment among producers, trading hubs and polishers. ENDS