Botswana`s drive towards a regional diamond centre
With a population of just over two million people spread across a landmass comparable in area to that of Texas, Botswana historically was rural, tribal and agriculture-based.
That is, until the discovery of diamonds in 1967 turned the country into a poster child for the benefits of a well-functioning African democracy and an economic success story.
Observers credit the effective relationship between government and the country’s private sector along with the investor-friendly attitude adopted by state officials for the progress in Botswana. Given the country’s heavy dependence on the diamond industry, nothing has been as important to its development as the government’s partnership with De Beers, a partnership that marks its 40-year anniversary in 2010.
While the government owns a 15 percent stake in De Beers and the two entities have equal shares in the Debswana mining company and the [continue reading]