Last year, Botswana’s outgoing President Mokgweetsi Masisi made a significant deal with De Beers, one of the largest diamond companies in the world. This agreement would gradually increase Botswana’s share of diamonds from the Debswana joint venture, which is a partnership between the country and De Beers, to 50% over the next ten years. This sounds promising, but there’s a catch: the deal hasn’t been signed yet!
Enter Duma Boko, Botswana’s newly inaugurated president. He’s stepping into a complicated situation and is eager to finalize a new agreement with De Beers as soon as possible. In a recent statement, he expressed concern about the ongoing negotiations, indicating that De Beers might even consider pulling out of Botswana entirely. “That would be very dangerous for our country,” he warned.
Boko, who recently led his party to victory, is aware of the stakes. The relationship between Botswana and De Beers could be at risk if the negotiations are not handled properly. He stated, “The first thing that needs to be done is to engage the other party.” This means he wants to have open discussions with De Beers to ensure both sides feel heard and respected.
In his televised address, Boko emphasized that negotiations should be about finding common ground. “A proper negotiation involves compromise,” he explained. “You get a bit of what you wanted, and the other person gets a bit too.” By working together, he believes they can create a lasting agreement that benefits everyone involved.
A spokesperson for De Beers reassured the public that the company remains committed to collaborating with the Botswana government to achieve shared goals. This reassurance comes at a time when De Beers’ parent company, Anglo American, is looking to make some big changes, including possibly selling off parts of the diamond business.
Botswana’s previous administration had hinted that the country might increase its stake in De Beers from the current 15%. But with uncertainty in the air, the new president has a lot of work ahead. Will Duma Boko be able to secure a deal that ensures Botswana benefits fully from its diamond resources? The nation is watching closely as the story unfolds, hoping for a brighter, more prosperous future.
