In a significant development for the global gemstone industry, Botswana, Africa's diamond powerhouse, has signalled its intent to expand its influence beyond mining and play a dominant role in the entire value chain. The country's vision for the future was outlined by its Cabinet Minister for Minerals and Energy, Bogolo Joy Kenewendo, during her recent visit to Surat, India's diamond polishing capital.
Festive Demand Spurs Production Plans
Bogolo Joy Kenewendo indicated that positive retail trends during the holiday season are pushing Botswana to consider increasing its diamond production. "We had good indications for the holiday season, that the retailers have started pushing out most of their stock and that confidence and positive productivity is starting to show up in the midstream as well. It will also force us to increase production," Kenewendo told The Times of India.
She elaborated that Botswana's strategy is intensely focused on defending its market position and stimulating demand. "We are so laser-focused on our campaign and our strategy of defence differentiation and really bringing back the demand through the understanding of the products, but also really giving the consumers what they want," the minister added.
Deepening Ties with India's Diamond Hub
The African nation, which gained independence in 1966, shares a critical trade relationship with India. Botswana commands nearly 30% of the global diamond supply, and India, particularly Surat and Gujarat where nine out of ten diamonds are polished, is its leading business partner. Kenewendo hinted at stronger bilateral cooperation on the horizon. "There would be developments that the Botswana President Duma Boko will announce during his visit in Jan," she revealed, pointing towards potential landmark agreements.
Highlighting a resilient local industry, Kenewendo shared that despite market turbulence, Botswana's diamond polishing sector has largely avoided layoffs. From a single polishing company in 1982, the country now boasts close to 70 such units. "I'm happy to report that the majority of them haven't actually laid off anybody through the structural changes that the market is going through in Botswana," she stated.
From Dinosaur-Age Stones to Green Diamonds
Botswana is not just selling diamonds; it's marketing a legacy. The minister emphasised the unique narrative of their stones, which are among the oldest on Earth. "We rely on what the earth gives us, and we believe that a stone that is the same age as a dinosaur is as rare as it comes," Kenewendo said. This rarity commands a premium, with Botswana's diamonds attracting almost double the price compared to stones from non-African origins.
The country is also aligning with modern consumer values. "The buyers want greener diamonds, and we share the story of our diamonds that are impactful," she noted, connecting the gems to Botswana's national development story. She cited the country's progress from having only about 3 km of road at independence to over 21,000 km today, with most citizens having access to electricity.
Looking ahead, Botswana's ambition extends to jewellery manufacturing, aiming to capture more value within its borders. With strong festive demand, a unique product story, and a deepening partnership with India's Surat, Botswana is strategically positioning itself as a leader in the new era of the global diamond trade.
