21 Oct 2026

Government and De Beers Group have advanced an initial P1 billion to the Diamonds for Development Fund, marking the fund’s transition into the implementation phase.

According to a joint press release issued by De Beers Group and the Ministry of Minerals and Energy, the fund is a partnership between the company and government aimed at channelling diamond wealth into non-mining sectors.

The fund is designed to unlock domestic, private, institutional and international capital to support economic diversification and create sustainable employment opportunities.

“This Fund is a strategic instrument for advancing Botswana’s economic transformation. It is about finding new ways to convert the value of diamond resources into long-term prosperity and investing in the industries, enterprises and capabilities that will drive the next phase of the nation’s development,” the release stated.

While De Beers is providing the initial capital, the initiative is a joint effort with government to ensure that Botswana’s diamond wealth leaves a lasting impact on the economy.

The release states that Botswana’s economic progress since independence has relied heavily on diamonds and that through the Diamonds for Development Fund, De Beers is committed to supporting government’s ambition to diversify Botswana’s economy.

It says the initiative will accelerate Botswana’s future economic growth and serve as a global example of responsible natural resource development.

Meanwhile, the fund has completed its structural framework and appointed Dr Akinwumi Adesina, a development economist and former President of the African Development Bank, as chairperson of its 10-member independent board.

The release further states that the initial contribution marks a crucial step towards advancing economic diversification, industrialisation, export competitiveness and sustainable job creation and that the fund’s work will focus on promoting prosperity for the people of Botswana. ENDS