Botswana to join Belgium as diamond certification hub

Botswana will soon join Belgium as a verification and certification hub for rough diamond exports to Group of Seven (G7) nations, its presidency said yesterday.

Following a G7 ban on Russian diamonds in January, Antwerp was selected in March as the sole location able to certify the origin of rough diamonds and issue G7 certificates.

Botswana, which is Africa’s biggest diamond producer – and second worldwide after Russia – yesterday said it expected to become the second certification node by early 2025.

This was after it had led a “massive protest” against the single node arrangement, arguing that it was “unfair, restrictive, costly and, therefore, harmful to the economy”, Botswana’s presidency said in a statement.

A G7 diamond technical team, chaired by the European Union, says it was also “engaging with other African diamond-producing countries such as Namibia and Angola to consider setting up additional export certification nodes”.

The upcoming inclusion of Botswana will “reposition the country as a responsible global leader in diamond production”, said government spokesperson Montlenyane Baaitse.

The announcement was made after Botswana’s recently elected president, Duma Boko, attended the FACETS 2024 diamond conference in Belgium.

During a speech at the event, Boko emphasised the economic and social importance of diamonds for his country while speaking of efforts to enhance transparency and accountability within the industry.

“Botswana is committed to being a leader in traceability and responsible mining practices, ensuring that our diamonds shine not only in aesthetics but also in ethics,” Boko said.

Diamond revenues and trade figures have plummeted in countries like Botswana, where economic growth fell to 2.7% in 2023 from 5.5% in 2022, according to the International Monetary Fund.

The stones are Botswana’s main source of income and account for about 30% of its gross domestic product and 80% of its exports.

Boko swept to power in an election at the end of October that ejected the party that had ruled for nearly six decades, on concerns about a slump in the economy.

In his first state of the nation address, Boko said he would strive to diversify Botswana’s diamond-dependent economy by launching into the medicinal cannabis market and exploiting its abundant sunshine. – Nampa/AFP