Botswana Soon to Be Recognized as a Diamond Certification Center

Botswana will soon join Belgium as a centre for the verification and certification of rough diamond exports to G7 countries, the presidency recently announced.

After the G7 banned Russian diamonds in January, Antwerp was designated in March as the sole site authorised to certify the origin of rough diamonds and issue G7 certificates. Botswana, Africa‘s top diamond producer and the world’s second-largest after Russia, said on Thursday it expected to become the second certification centre by early 2025.

The decision came after the country’s “strong protest” against the single centre system, which it said was “unfair, restrictive, costly and therefore detrimental to the economy” of Botswana, according to the presidency statement. A G7 technical team on diamonds, chaired by the European Union, said it was also “in discussions with other African producing countries such as Namibia and Angola to establish additional certification centres.”

Botswana committed to responsible mining

Botswana’s upcoming inclusion will “reposition the country as a global benchmark” in diamond production,” government spokesperson Montlenyane Baaitse said in a statement. The announcement follows Botswana’s newly elected President Duma Boko’s participation in the FACETS 2024 diamond conference in Belgium.

In a speech at the event, Duma Boko highlighted the economic and social importance of diamonds to his country while discussing efforts to strengthen transparency and accountability in the industry. “Botswana is committed to being a leader in traceability and responsible mining practices, ensuring that our diamonds shine not only aesthetically but ethically,” he said.

Diamond revenues and trade have plummeted in countries like Botswana, where growth is projected to slow from 5.5% in 2022 to 2.7% in 2023, according to the International Monetary Fund. Gemstones are Botswana’s main source of revenue, accounting for about 30% of its GDP and 80% of its exports.

Duma Boko swept to power in an October 30th vote that ousted the ruling party of nearly six decades, amid concerns about the economic slowdown. In his first state-of-the-nation address, the new president said he wanted to diversify the economy, which was overly reliant on diamonds, by entering the medical cannabis market and exploiting the country’s abundant sunshine.

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(Featured image by Dillon Wanner via Unsplash)

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First published in LES ECO.ma. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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