07 May 2024

Botswana’s stance on natural diamonds against lab-grown ones is unequivocal. 

Minister of Mineral and Energy, Mr Lefoko Moagi said in an interview Monday ahead of the 16^th US-Africa business summit that the craze around the synthetic diamonds would quickly dissipate.

His argument is premised on the fact that a laboratory-concocted diamond cannot compare to the one organically found in nature by any measure.

“We have been keeping a close eye on the development regarding the matter but we are unflinching in our stance and advocacy for the natural diamonds whose value cannot be matched by lab-created diamond,” he said adding that the latter did not only lack the romance and allure of natural diamonds and therefore could not be a good financial choice because they lose value in the long run.

Therefore, he said Botswana would pull out all the stops including at the ongoing US-Africa business summit to make its position on the subject known.

“We have seen prices of these lab-grown diamonds fall by over 90 per cent and we are convinced that natural diamond that is not tainted by blood like ours is by far the best deal for our customers,” he said.

On other issues, Mr Moagi was optimistic that the summit would provide a platform for Botswana to court potential investors who could help the country establish alternative sources of energy such as wind and solar and reduce carbon emissions occasioned by the use of fossil fuels such as coal.

Botswana, he said would further use the summit to network with thought leaders in critical minerals such as copper, nickel, and cobalt which were essential components in clean energy technologies such as turbines and electricity networks as well as electric vehicles.

Meanwhile, CEDA Chief Executive Officer, Mr Thabo Thamane, who is also part of the Botswana contingent at the summit, was also hopeful that the mission would bear fruits for Botswana companies seeking business opportunities in the larger US market be it technically or financially.

“As a state-owned enterprise, we are also looking for financiers to inject cash in the agency to further advance the mandate of CEDA of promoting financial and technical support for citizen-owned enterprises,” he said. ENDS