Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News -

This article examines whether Botswana is finally wresting control of its diamond destiny or if it is still shackled to a corporation that has historically dictated the terms.

To understand whether Botswana is getting a raw deal, one must look at the mechanics of the current arrangement. The relationship operates primarily through , a 50/50 joint venture between the government of Botswana and De Beers.

: Most rough diamonds were historically shipped abroad for cutting and polishing in hubs like India, depriving Botswana of higher-value manufacturing and retail jobs. Alleged Profit Shifting This article examines whether Botswana is finally wresting

Is Botswana getting a raw deal? The answer is nuanced. Compared to other mineral-rich nations in Africa, Botswana has secured an exceptionally favorable arrangement. However, in the context of modern ESG standards and the rise of synthetic competitors, the "old" way of doing business is no longer enough.

Is Botswana Getting a Raw Deal From De Beers Diamonds? The decades-long partnership between the Republic of Botswana and De Beers is often cited as the gold standard for public-private cooperation. However, as the global diamond market undergoes a seismic shift, many are asking if the "miracle of African development" is being short-changed. From Gaborone to the boardroom in London, the debate over whether Botswana is getting a raw deal has reached a fever pitch. The Foundation of a Diamond Giant : Most rough diamonds were historically shipped abroad

. Historically, the partnership transformed Botswana from one of the world's poorest nations in 1966 into an upper-middle-income country today Key Arguments for a "Raw Deal" Low Share of Sales : For years, Botswana's state-owned Okavango Diamond Company (ODC)

As of April 2026, Botswana has shifted away from a "raw deal" in its diamond partnership with De Beers by securing a 10-year agreement that raises the state’s share of rough diamonds, transitioning toward a 50/50 equity split by 2035. While this February 2025 deal increases local control, Botswana currently faces economic challenges, including a global supply glut, market volatility, and a substantial diamond inventory. For more information, visit Reuters . Compared to other mineral-rich nations in Africa, Botswana

For decades, the 50/50 joint venture, Debswana, has been the cornerstone of this relationship, operating world-famous mines like Jwaneng and Orapa. Diamonds quickly became Botswana’s lifeblood, accounting for roughly 80% of its exports and a third of its GDP and government revenue. In return for mining rights, De Beers provided the global marketing and distribution network that turned Botswana’s stones into coveted luxury goods.

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While this sounds like progress, it fell short of earlier expectations. The provisional "Heads of Terms" agreed to in 2023 suggested ODC’s allocation would hit 50% far sooner. The final 2025 deal sets a more conservative target. Furthermore, in exchange for a modestly increased share of the stones, Botswana agreed to lock in De Beers as the operator and primary marketer for the next three decades.