diamond

Most of the reports on resource governance in southern Africa give Botswana the crown when it comes to transparency and accountability in diamond mining. Recent investigations however, reveal that things are not so rosy in Botswana.

Since its independence from Britain in 1966, Botswana has been hailed as Africa’s model nation, a “political diamond.” The country, which is the size of France but with only about 2 million residents, is stable—its democratic elections so peaceful and predictable they’ve garnered an enviable epithet, “boring.” Fifty years ago, Botswana was one of the world’s 10 poorest nations; now it’s considered a middle-income country.

Usually, a collection of quotes of the week would come from a variety of mouths but to kick off our new series, we devote the entire list to Zimbabwe's ZANU-PF Justice Minister, Patrick Chinamasa, who delivered the following 'gems' before the UN Human Rights Council....

African COs call for major changes to diamond mechanism

Move will help to police flow of Zimbabwean diamonds

Botswana and De Beers are dependent on each other. For Botswana, diamonds generate over 80 percent of Botswana’s
foreign exchange earnings and almost half of its government revenue. According to De Beers, the diamond industry directly accounts for one in 20 jobs in the country. But the connections between De Beers and Botswana’s economy run even deeper. The relocation of a De Beers aggregation center from London to Gaborone, Botswana’s capital, in 2013 increased the liquidity of the Bank of Botswana since a great deal more money started to flow through it.

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