25 Feb 2025

The Government of Botswana and De Beers Group on Tuesday signed  10-year diamond sales agreement in Gaborone.

 The signing ceremony, which took place at the historic Orapa House, also included a 25-year extension of the mining licence for the 50:50 Debswana Mining Joint Venture.

Speaking at the event, President Advocate Duma Boko said the agreement was for the people of Botswana, the jobs they needed, hope, faith and the confidence they must have in their country as well as its institutions.

President Boko said Batswana needed to start refashioning, reimagining and reconfiguring these institutions, to serve the country better than they did before.

“We must not respect these institutions too much because even as we rely on what they have given us, we must constantly re-evaluate, refashion and reimagine and improve them,” he said.

Celebrating the renewed partnership that has sustained Botswana over the years, President Boko said it was built on trust, mutual respect and utmost good faith, adding it had enabled Botswana to extract the precious stones and use them as the energy that powered Botswana’s economic growth, sustenance, transformation and development of lives and livelihood.

“We have revelled in the joys and opportunities of our mutual collaboration in this public private partnership between Government of Botswana and De Beers Group of Companies. We tried the best we could to build a resilient economy, but in the process we fell into the complacency of over reliance on these powerful stones,” said President Boko.

He said government faced challenges associated with diamonds such as unstable and unresponsive market as well as fake lab grown diamonds.

But even with all that, President Boko said diamond from Botswana carried the story and history of the people of Botswana that powered their livelihood upon which the country was built and must progress on.

 

President Boko said the partnership models exemplified ties that bound the Government of Botswana and De Beers, hence called on the rest of the world to come to the country to witness  durable partnerships built on firm foundations of trust and respect.

He urged companies and investors to emulate what De Beers had done,  in order to achieve the kind of results that had been achieved with diamonds.

De Beers Group chief executive officer, Mr Al Cook said the agreement would go down as evolution in history. He said the agreement that took six years in negotiations, was beyond diamonds and about the people of Botswana. 

“It starts with P1billion investment, extending to P10billion over the course of the agreement,” Mr Cook said.

He further said the partnership was a sign of the company’s confidence in Botswana and its people. “Key to the partnership agreement is a marketing partnership which for the first time brings the resources, brains and capabilities together to tell the story of the diamond in Botswana, and the story of the people of Botswana; a story that we at De Beers Group are so proud of,” said Mr Cook.

Minister of Minerals and Energy Ms Bogolo Kenewendo for her part said the signing agreement was a reaffirmation of a legacy of trust, collaboration and commitment to the prosperity of Botswana and Batswana. 

Ms Kenewendo said government recognised the importance and significance the signing of the agreement brought and meant to the diamond industry the world over. 

Hosting the ceremony at Orapa House, Ms Kenewendo said symbolised Botswana’s journey from diamond discovery to dominance in the global diamond industry.

“The 2025 sales agreement between government and De Deers Group is testament to the enduring vision and a commitment not only to securing economic returns, but ensuring Botswana remains the centre of global diamond industry, that we can drive innovation, beneficiation and economic empowerment from,” said Ms Kenewendo. ENDS