Botswana: Duma Boko Doubles Down On Diamonds

Despite advice to diversify Botswana’s economy, President Boko has doubled the country’s stake in De Beers.

President Duma Boko’s announcement this week that Botswana would double its stake in the diamond company De Beers – to 30% – was counter-intuitive.

Diamonds have long been the mainstay of Botswana’s economy, historically contributing about 70% or more of its exports, one-third of government revenue and about a quarter of gross domestic product (GDP). The success of the country’s 50-50…