Kutlo Motseta
4th December 2024
His Excellency Advocate Duma Boko has described his trip to the FACET conference in Antwerp, Belgium, where international leaders in the diamond industry met to address the challenges in the global industry as a resounding success.
The President reported that the trip was successful as it boosted investor confidence in Botswana. It also witnessed Botswana being granted the right to establish a verification node, which shows the growing confidence that the world has in Botswana to lead as a moral authority in the diamond sector.
“Botswana role in diamond traceability is one of the most significant achievements of this trip,” said Boko.
He said, “Botswana was granted approval to establish a verification note as part of global initiative to certify origins of diamonds. This means that Botswana will align with G7 requirements by playing a direct role in verifying threat diamonds do not originate from restricted regions including Russia.”
The President is optimistic about the future of the industry and gave a positive report about the country’s longstanding business relationship with De Beers.
“I want to reassure all Batswana that these negotiations are progressing well … Together Botswana and De Beers are committed to challenge the monetary challenges in the diamond market. This partnership will continue to provide opportunities for growth not just for the industry but for every Motswana whose livelihood is touched by diamonds,” Boko said.
The President said his delegation also addressed the issue of economic diversification at the conference through its “initiatives like our drive for renewable energy investment and diversification of the economy, through industrial hemp are laying the foundation for sustainable economic growth.”
The Minister of Minerals and Energy Bogolo Kenewendo who accompanied the president cautioned the public against circulating misinformation and confirmed that the deal with De Beers is all but complete.
“The visits generated market confidence. Don’t feel threatened by the news you have seen, particularly the slashing of prices by de Beers … The President has given some fresh instructions to ensure we are getting the most out of this deal,” she said.
She also spoke about the importance of G7 to Botswana.
“G7 constitutes 70% of our market, so it’s very important that we focus on protecting our market and ensuring that that there is no disruption on the sale of our diamonds,” Kenewendo said.
Expressing his delight at the outcome of the Conference, specifically the verification node the President summarized the trip with the following words.
“We came, we conquered,” said a buoyant Boko. He also believes that the recent peaceful historic national presidential elections played a role in the decision to grant the award, adding, “When you talk about integrity and ethics of sourcing and processing a commodity there is no firmer ground than us [high levels of democracy and practice] … and that made life easier than it might have been.”
