Botswana to join Belgium as diamond certification hub

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

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 the second worldwide after Russia, said Thursday 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,” the presidency said in a statement.

A G7 diamond technical team, chaired by the European Union, said 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 in a statement.

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 the 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,” he said.

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

The stones are Botswana’s main source of income and account for about 30 percent of its GDP and 80 percent of its exports.

Boko swept to power in an October 30 poll 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 its diamond-dependent economy by launching into the medicinal cannabis market and exploiting its abundant sunshine.