Akinwumi Adesina has been appointed Chairperson of the Diamonds for Development Fund, a major initiative launched by the Government of the Republic of Botswana and De Beers Group to accelerate economic diversification, innovation and long-term national development. The appointment brings one of Africa’s most influential development economists into a central role focused on transforming how diamond wealth supports inclusive growth. The fund is designed to ensure that Botswana’s diamond resources generate wider benefits beyond mining revenues, including industrial development, skills growth and increased citizen participation. His leadership is expected to strengthen the strategic direction of the initiative as it moves into its operational phase. The announcement signals a new stage in Botswana’s efforts to link natural resource wealth with sustainable economic transformation.
Dr Adesina brings close to 40 years of experience in development economics and leadership across Africa and global institutions. He previously served as the 8th elected President of the African Development Bank Group, where he completed two terms ending in September 2025. During his tenure, he led a major expansion of the Bank’s capital base from $93 billion to $318 billion, marking the highest level in its history. He also helped establish the Africa Investment Forum, which has mobilised more than $225 billion in investment interest since its launch in 2018. His leadership focused on scaling development finance, improving infrastructure investment and strengthening economic integration across African markets.
One of Dr Adesina’s most widely recognised contributions is the High 5s strategy, launched in 2015 to transform development outcomes across Africa. The initiative focused on five key priorities: light up and power Africa, feed Africa, industrialise Africa, integrate Africa and improve the quality of life for Africans. According to institutional reporting, the strategy has positively influenced the lives of approximately 565 million people across the continent. He also played a central role in advancing Mission 300, a partnership with the World Bank Group aimed at expanding electricity access to 300 million Africans by 2030. These initiatives have positioned him as a leading advocate for large-scale, results-driven development programmes.
His global reputation is reinforced by multiple international awards and recognitions. Dr Adesina was named Forbes Africa Person of the Year in 2013 and again in 2019, reflecting sustained leadership impact over time. He was also honoured as Africa’s Man of the Year 2022 by EMY Africa and has consistently appeared on lists of the 100 most influential Africans. In addition, he has been recognised among the 100 most reputable people in the world by Reputation Poll International. These accolades highlight his influence in shaping economic policy discussions, development financing and governance reforms at both continental and global levels.
The Government of Botswana welcomed the appointment as a strategic milestone for the Diamonds for Development Fund. Honourable Bogolo Kenewendo said the appointment strengthens Botswana’s vision of maximising diamond value for economic transformation, diversification and inclusive growth. She emphasised that the fund will support beneficiation, innovation and greater citizen participation in the diamond value chain. The government expects Dr Adesina’s leadership experience in managing large-scale reforms to help drive the fund’s ambitious objectives. His appointment is viewed as a key step in ensuring that Botswana’s diamond resources deliver long-term developmental impact.
From the private sector perspective, Al Cook described the appointment as a critical decision for the success of the initiative. He stated that Dr Adesina’s record in development leadership, governance and investment mobilisation makes him well suited to guide the fund. He highlighted the importance of strong leadership in achieving the shared goal of economic diversification and job creation. The partnership between Botswana and De Beers Group is intended to create a model for how natural resource wealth can be used to support national transformation. The fund is expected to align private sector expertise with public sector development priorities.
Dr Adesina expressed appreciation for the appointment and outlined his vision for the initiative. He said the Diamonds for Development Fund represents a bold approach to ensuring that citizens directly benefit from diamond wealth. He stressed that development must extend beyond mineral extraction to include broader improvements in livelihoods, opportunity and economic participation. He also emphasised that Botswana’s experience could set a global example for resource-driven development models. His leadership will focus on ensuring that the fund delivers measurable outcomes that support long-term prosperity.
The Diamonds for Development Fund is currently finalising the appointment of independent board directors as part of its setup process. Dr Adesina is scheduled to formally assume his role on 15 June 2026, marking the beginning of a new governance phase for the initiative. The fund is expected to prioritise transparency, accountability and strategic investment in sectors that support diversification. As Botswana continues to position itself beyond diamond dependence, the initiative represents a structured pathway toward a more resilient economy. The appointment of Dr Adesina signals strong momentum behind efforts to convert mineral wealth into broad-based national development.
