President Duma Boko just laid out plans to expand Botswana’s diamond sector and investment appeal through beneficiation, green energy and economic reforms before an audience of diamond industry leaders at the JCK Las Vegas Trade Show
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President Duma Boko recently told industry leaders at the JCK Las Vegas Trade Show of Botswana’s evolving diamond industry and the country’s ambitions to become a global hub for ethical luxury and innovation.
“Botswana is open for investment and ready to partner,” he said in his keynote address at the world’s premier diamond industry show, underscoring a new strategy aimed at attracting global players to sectors such as luxury goods, tourism, green energy, and technology.
Greater share
The President highlighted the recently concluded agreement with De Beers, Botswana’s long-time partner in diamond mining, as a cornerstone of this new direction. The deal will gradually increase Botswana’s share of rough diamond production from 30% to 50% by 2035.
“This agreement includes significant investments in local beneficiation, skills development, and infrastructure,” Boko said, framing it as a move to generate more local value and jobs.
He referenced De Beers’ decision to shut down its Lightbox synthetic diamond business, interpreting it as a “shared commitment to natural diamonds”.
Policy reforms
President Boko stated that Botswana is streamlining its investment framework to eliminate unnecessary bureaucracy. While noting his country’s favourable credit rating – BBB+ long-term and A-2 short-term by Standard & Poor’s – he emphasised the need for more than just strong financial indicators.
“We are acting with urgency to make Botswana an easier, faster and more transparent place to do business,” he said.
Boko also highlighted Botswana’s environmental commitments, pointing to a new agreement between Debswana and Botswana Power Corporation to supply renewable energy for mining operations.
Clean electricity
“This partnership enables Debswana to power its operations with clean electricity,” he said, adding that Botswana aims to become carbon neutral by 2030.
Addressing the need for consumer trust, the President stressed investment in marketing, traceability and consumer education. “Confidence is the cornerstone of luxury, and we will protect that confidence with everything we have,” he said.
Beyond diamonds, Boko spoke of ambitions to build Botswana into a destination for Meetings, Incentives, Conferences, and Events (MICE), and to develop new economic sectors that reduce reliance on raw exports.
“Botswana is ready to be known not just for exporting diamonds but also for exporting inspiration,” he said.