De Beers’ partnership with Botswana is a remarkable story of careful stewardship, wise investment and shared prosperity.
As a diamond symbolises enduring partnership, so does the relationship between Botswana and De Beers.
De Beers discovered diamonds in the country in 1967 – a year after Botswana gained independence – and few would have thought that these hidden treasures would change the country so dramatically and, as a result, help Botswana experience one of the world’s longest periods of economic growth.
At the heart of the partnership, one that has succeeded for almost 50 years, is commitment, a commitment to ensuring that every diamond mined creates value at each and every stage of the ‘diamond pipeline’.
Botswana committed itself to De Beers by becoming a shareholder and De Beers in turn made a commitment to Botswana by relocating its multi-billion dollar international sales function from London to Gaborone. Together with continued investment in exploration, mine development and rough diamond sales to the domestic cutting and polishing sector, the long-term future of both parties are interlinked.
Thanks to the partnership, Botswana has gone from being one of the poorest countries in Africa to one of its biggest modern economic success stories, with a commitment that now sees it participating in every stage of the diamond pipeline – from exploration to retail.
De Beers’ partnership with Botswana is a remarkable story of careful stewardship, wise investment and shared prosperity. We are proud to have played a role in the country's success story so far – and look forward to helping shape its future too.