Botswana’s wrangling over a diamond deal reflects a common desire among African states to get more from their raw commodities. But it alarms those worried that the country is becoming more volatile, nationalist and populist
This success would have been impossible without diamonds. In 1967 De Beers, which then had a near-monopoly of global production and today remains the largest miner by value, discovered what would become Orapa, the world’s biggest open-pit diamond mine. Whereas such windfalls have been squandered across Africa, Botswana’s first few leaders forged a productive partnership with the firm.
Between Botswana and De Beers there are multiple deals. Each party owns half of Debswana, which mines 95% of the diamonds in Botswana, the second biggest producer after Russia. The Diamond Trading Company Botswana, which sorts the offtake, is also evenly split. A quarter of the rough stones go to the state-owned Okavango Diamond Corporation , which sells its share at auction. The government also owns 15% of De Beers.
Mr Masisi’s language worries Botswana’s Western champions. He also has protectionist instincts. He banned the import of some vegetables from South Africa and he has limited foreign ownership of businesses in certain sectors. He says he has a “wonderful relationship” with Emmerson Mnangagwa, Zimbabwe’s ruthless president. Journalists talk of intimidation.
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