diamond

Botswana’s Diamond Dilemma: The Social and Economic Fallout of a Resource-Dependent Economy As Botswana grapples with an unprecedented fiscal crisis, the shimmering allure of diamonds—the cornerstone of the nation’s wealth—has turned into a stark reminder of vulnerability. This dilemma illuminates a larger narrative: the challenges faced by resource-dependent economies in an ever-evolving global market. The Glitter Fade: A Market at a Crossroads Once celebrated as Africa's beacon of prosperity, Botswana now finds itself…

A 1098-carat diamond was discovered this week in Botswana, in the Jwaneng mine, located a few dozen kilometers from Gaborone, in the southeastern part of the country. It is the third largest known diamond in history. On Wednesday, Botswana President Mokgweetsi Masisi was able to hold in his hands a transparent stone the size of…

However, in a deep economic crisis, Angola needs new money to revive its economic machine. The authorities have therefore decided to privatize the diamond and oil sectors, two flagships in its economy. Privatizations should take place by the end of 2021, according to Finance Minister Vera Daves Da Souza, who made it clear she…