DiamondBuzz
Botswana’s diamond problems are holding back its economy
Botswana depends too much on money from diamonds. This creates “bottlenecks” that stop businesses from growing and the country from trying new things, says the IMF (International Monetary Fund).
In a new report called Addressing Growth Bottlenecks in Botswana, the IMF says the country is at an important turning point.
The problems include:
- Hard to get loans (25% of companies say this).
- Issues with land ownership rules.
- Bad governance.
- Poor infrastructure, like unreliable electricity.
- Strict job rules that make hiring hard.
The diamond business is changing fast. Lab-grown diamonds, sanctions on Russia, and less demand from China (especially a normal business cycle drop) are hurting it.
The IMF says Botswana must fix these big problems to grow and not rely only on diamonds.
In 2024, the economy shrank by 3% because diamond production stopped and demand fell. This hurt government savings, raised youth joblessness, and showed too much focus on one industry.Last month, the IMF warned Botswana not to buy more shares in De Beers . It could increase debt and tie the country more to a risky business.
DiamondBuzz
Richemont and Signet Jewelers Could Join Global Diamond Consortium In Bid For De Beers
Richemont, Signet Would Connect The Consortium To Key Global Growth Vectors Spanning Luxury High Jewelry and Mass-Market Retail.
The Global Diamond Consortium (GDC)
Richemont and Signet Jewelers are reported to be in talks about joining the Global Diamond Consortium (GDC), the preferred bidder for De Beers according to a Bloomberg News report.
GDC was selected in July 2026 as one of Anglo American’s preferred bidders for De Beers as part of Anglo American’s ongoing corporate restructuring.
The potential inclusion of Richemont—owner of luxury Maisons including Cartier and Van Cleef & Arpels—and Signet Jewelers—the world’s largest retailer of diamond jewelry, operating brands such as Kay Jewelers, Zales, and Jared—would connect the consortium to key global growth vectors spanning luxury high jewelry and mass-market retail.
Strengthening the Natural Diamond Ecosystem: Participation by major luxury brands and global retail leaders reinforces commitment across the entire value chain—from responsible mining and manufacturing to consumer engagement.
Balanced Governance Structure: Discussions center on potential minority equity positions that would support long-term category growth while maintaining appropriate separation between ownership and commercial strategy.
Broad Stakeholder Participation: The consortium continues to advance talks with host governments, including discussions with the Government of Botswana regarding a potential increase in its equity share in De Beers from 15% to approximately 25%, alongside participation from private investors and southern African host nations.
Discussions between GDC, Richemont, Signet, and participating government stakeholders remain ongoing. Terms of any potential participation, including the size of equity interests, have not been finalized and remain subject to regulatory approvals and definitive documentation.
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