DIAMONDS PLAY A CRITICAL ROLE IN THE SOCIO-ECONOMIC DEVELOPMENT OF BOTSWANA

KGK Diamond Botswana has been commended for its beneficiation initiatives which will help strengthen Botswana’s diamonds trade environment.

Speaking this morning at the inauguration ceremony of KGK Diamond Factory, His Excellency the President, Dr. Mokgweetsi Eric Keabetswe Masisi highlighted that Botswana has grown to be among the top two leading producers of diamonds by value for the last 3 decades.

President Masisi stated that in developing and managing Botswana’s diamond resources over the years, the Government followed four principles which are forging partnerships with the private sector to leverage on their technical capabilities and global reach; pursuing opportunities for training and skills development for citizens; pursuing opportunities for mining to develop linkages with the rest of the economy; and ensuring that the extraction, production and processing of diamond resources is done with due care to the environment and sustainability in the process of exploiting these resources. He also mentioned that Batswana have been trained to the extent that all the diamond mines are now largely run and managed by citizens, and have over the last seven (7) years employed an average of 12 000 people.

Dr Masisi also highlighted that Value Chains are key to the deepening of economic diversification in Botswana and as such Government took a decision to add value to all its natural resources including diamonds and this will in no small measure, increase the contribution of the mineral sector to Botswana’s Gross Domestic Product.

His Excellency mentioned that KGK Diamonds Botswana has proven to be a responsible stakeholder in nurturing the diamond industry. Referring to KGK’s state-of-the-art jewellery manufacturing facility, he highlighted that the company’s operations will boost Botswana’s profile as a leader in the global diamond industry. President Masisi shared that KGK Diamonds has created 450 jobs in Botswana’s Diamond Sector and is committed to creating an additional 50 with its Jewellery manufacturing facility and has trained close to 400 polishers over the past 3 years.

He assured the private sector of the Government’s commitment to support businesses by putting in place robust polices, systems and laws to create an environment that enables businesses to thrive. He further encouraged businesses to also observe fair labour practices that provide decent jobs not only in terms of wages but also cater for the welfare of their workers.