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While this looks like a win on paper, critics argue that the deal focuses on a "sunset industry." The Lab-Grown Threat
The debate over whether Botswana is getting a raw deal ultimately forces the nation to look toward a future where it is less dependent on a single corporate partner—and a single commodity.
Another friction point is the financial structure of the agreement. Under the current deal, Botswana sells 75% of Debswana’s output to the Okavango Diamond Company (a state-owned entity), while De Beers takes the remaining 25%. While this looks like a win on paper,
De Beers committed to investing up to $750 million over the next decade into a fund designed to diversify Botswana's economy, focusing on non-diamond sectors like agriculture, tourism, and technology.
For most of the partnership, all diamonds were flown to De Beers’ headquarters in London for sorting and valuation. Botswana provided the raw material, but the intellectual capital—the science of knowing which stone goes to which jeweler—remained abroad. President Mokgweetsi Masisi has famously called this arrangement "unsustainable," demanding that sorting and valuation happen entirely within Botswana’s borders. De Beers committed to investing up to $750
So, is Botswana getting a raw deal from De Beers? The new sales agreement represents an improved financial arrangement, but it is a deal signed in the middle of a market earthquake. The percentages and quotas mean little when the entire global industry is in a state of crisis.
Is Botswana Getting a Raw Deal From De Beers Diamonds? The long-standing partnership between the government of Botswana and De Beers, the world's leading diamond company, has often been hailed as a model for resource-driven development. For decades, this joint venture, known as Debswana, has transformed Botswana from one of the poorest nations in Africa into a middle-income economy. However, as the global diamond market faces shifting dynamics and Botswana seeks greater control over its natural wealth, critics and policymakers alike are asking a critical question: Is Botswana getting a raw deal from De Beers? The Historic Foundations of the Partnership To understand the current tension
This article examines whether Botswana is finally wresting control of its diamond destiny or if it is still shackled to a corporation that has historically dictated the terms.
To understand the current tension, one must acknowledge the history. Unlike many African nations that fell victim to the "resource curse"—where mineral wealth fuels corruption and conflict—Botswana utilized diamond revenues to build infrastructure, fund free education, and develop a thriving tourism sector. The partnership was formalized through Debswana , a 50/50 joint venture between the government and De Beers.