Is Botswana Getting A Raw Deal From De Beers Diamonds - The World News Jun 2026

Historically, the joint venture between the government and De Beers, known as Debswana , allocated 75% of all rough diamonds directly to De Beers. This arrangement left Botswana's state-owned Okavango Diamond Company (ODC) with just a 25% share to sell independently. Critics argued that this system starved the local economy of job creation and technical expertise, effectively shortchanging the world’s largest producer of rough diamonds by value.

Under the previous long-term agreements, De Beers held the lion's share of the "marketing" power. While Botswana owned half the mines, the majority of the rough stones were sold through De Beers' global distribution network. The New Deal: Progress or Posturing? Historically, the joint venture between the government and