The country is at a pivotal point in its diamond journey, with the new deal between De Beers and the government seen as a catalyst for growth.
Botswana President Mokgweetsi Masisi paused for a moment after stepping up to the podium to address the annual Natural Diamond Summit in Gaborone.
As he looked through the marquee venue, aptly known as the Diamond Dome, with its intentionally earthy décor, Masisi appeared measured. The speech he was about to give was his first major address to a broader De Beers-organized audience since the government announced its landmark deal with the company on June 30.
His words would highlight the government’s unique partnership with De Beers, after the prolonged negotiations tested the relationship. Masisi would demonstrate confidence in the natural-diamond industry, which has endured a difficult year in 2023 but remains vital to Botswana’s economic development. And that would tie into the Botswana-De Beers narrative that a focus on sustainability would drive growth — relating to how the country and the industry connect “people, planet and product,” the theme of the summit.
“We’ve already made strides in the direction of sustainable partnerships and collaborations where industry players, government and communities are working together to unlock the full potential of our precious resource,” Masisi said. De Beers CEO Al Cook conveyed a similar message at the summit, which took place from November 13 to 14.