De Beers and Botswana: A Renewed Alliance

De Beers' CEO expresses confidence in finalizing a new diamond sales agreement with Botswana shortly. The agreement follows criticism from Botswana's President Duma Boko of previous negotiations but promises a stronger collaboration. Economic concerns in Botswana drive changes in leadership and strategy.

De Beers' CEO is optimistic about concluding a new diamond sales agreement with Botswana within weeks, following discussions with the country's newly elected president. The deal, crucial for both parties, awaits signing despite being agreed upon last year.

Botswana's President Duma Boko, who recently came to power through a decisive electoral victory, criticized his predecessor's negotiation tactics with De Beers. Concerns were raised that previous dealings might have jeopardized the relationship, prompting fears that De Beers might have exited the talks.

Amidst economic challenges, President Boko appointed Bogolo Joy Kenewendo as minister of minerals and energy. Botswana's reliance on diamond exports means that the global market's downturn poses significant risks to economic growth, which Boko aims to tackle with renewed energy and focus on strategic partnerships.

(With inputs from agencies.)