Botswana officially joined the World Federation of Diamond Bourses (WFDB) as an affiliate member at the international summit held in Gaborone on 18 May 2026. This strategic membership reinforces the country’s ambition to establish itself as a global benchmark for ethically sourced natural diamonds. On this occasion, Botswana’s Minister of Mines and Energy, Bogolo Kenewendo, made it clear that Botswana now intends to play a major role across the sector’s entire value chain, rather than merely being one of the world’s largest producers.
By adopting a new strategic approach to the diamond sector, Botswana officially joined the World Federation of Diamond Bourses on 18 May 2026. This initiative aims to transform the country into a global hub for diamond trade and marketing, moving beyond mere mining. Faced with a surplus of stock, domestic production has been reduced to 15.1 million carats. Diamonds are of paramount importance to the Botswana economy, accounting for nearly 30% of GDP, around 80% of exports and over 90% of export earnings, according to the World Bank.
“We want to bridge the gap between our status as a producing country and the major trading centres, so that together we can build commercial hubs and value chains that will not only develop Botswana but also contribute to global growth.”
Bogolo Kenewendo, Minister of Mines and Energy – Botswana
Faced with growing competition from synthetic diamonds, which are much cheaper and are gaining market share, officials at the World Federation of Diamond Bourses view the membership of Botswana, a major producer, as a key strategic asset for the sector. This integration aims to support the industry’s efforts to maintain the value and appeal of natural diamonds among buyers.
“The World Federation of Diamond Bourses represents the world’s leading diamond exchanges – the trading hubs that form the backbone of the international diamond trade. Today, for the first time, Botswana and Angola, two of the world’s leading diamond-producing countries, are sitting at the table where the future of our industry is being shaped.”
Yoram Dvash, President of the World Federation of Diamond Bourses – Israel
Botswana is banking on “ethical diamonds” to bolster its international image, with stones marketed as “development diamonds”, mined responsibly and conflict-free. Thanks to diamond revenues, per capita income has risen from around US$100 to over US$8,500. As Africa’s leading producer, the country is also home to the world’s richest diamond mine, which extracts between 12 and 15 million carats annually and generates 60% to 70% of Debswana’s revenue.
“For us, diamonds can no longer simply leave Botswana in their raw state. They must leave as stories, brands, expertise, technology, investment, luxury and jobs created right here.”
Bogolo Kenewendo, Minister of Mines and Energy – Botswana
The diamond sector is however facing a global crisis. Demand is slowing, prices are falling and synthetic diamonds are gaining ground. Botswana’s mining revenues have fallen to around USD 770 million, or 47% of usual levels, compared with a historical average of over USD 1.9 billion in 2025. For the Botswana government, the challenge now is to diversify the economy whilst protecting the value of natural diamonds.
