How we are helping to diversify the economy and prepare for a post-diamond world.
Diamonds and the partnership between Debswana and the Government of the Republic of Botswana have helped bring about remarkable growth, transforming Botswana from being one of the poorest countries in Africa to being one of its biggest modern economic success stories.
But eventually the diamond mines will close. So Botswana needs to prepare for a post-diamond world. To that end, Debswana is working with the Government to help diversify the economy.
Capital expenditure on mines has helped to kickstart other sectors, including construction, financial services, IT, banking, security and transport, and the company has supported small and medium companies financially as well as enterprise development programmes such as Tokafala.
The non-mining sector now makes up 70 per cent of total value added to GDP compared with less than 50 per cent in 2002.
Debswana and the Government of the Republic of Botswana have a continuing commitment not only to creating employment for local communities but also to providing training and developing skills. These are primary ways of enabling people to shape opportunities for themselves and their country. In 2014, the partnership spent about US$6 million on more than 550,000 hours of training and skills development.