Africa-Press – Botswana. As President Dr Mokgweetsi Masisi marks five years of his presidency on April 1 this year, his tenacity to see the country benefiting from its natural resources is beyond measure.
We have seen him travelling the world in pursuit of potential investors to set up business in the country.
Recently HB Antwerp officially opened a diamond manufacturing plant in Gaborone, Botswana has made a deal with the Belgian company in which it will buy 24 per cent stake in the company.
“Botswana must gain more from its diamond resources, for the simple reason that the returns that come with having control to sell our diamonds with value addition, are much, much, higher than the returns on the sales of rough diamond stones,” says President Masisi at the official opening of the plant.
This is without doubt, a feather in the cap, of a man who relentlessly pursued potential investors to set up businesses and attain economic growth and employment creation.
Another point the president has made is that he wants Botswana to have more shares in the De Beers deal, which has been the envy of many countries, with analysts saying the country has avoided the resource curse, as money accrued from diamonds has been used for developments. Mining accounts for 30 per cent of Botswana’s GDP.
Through the De Beers partnership, where Botswana has 15 per cent shares in De Beers (Anglo American has 85 per cent), and further, has a 50-50 venture with De Beers in Debswana, the government received $2 billion in revenue during the 2021/22 financial year.
President Masisi says Batswana could benefit more through Okavango Diamond Company (ODC), which currently receives 15 per cent of rough diamonds from Debswana production of rare and exceptional high value single stones through to lower quality industrial stones.,
The negotiations for a new partnership deal are still on, scheduled to be completed by end of June this year.
President Masisi said it was high time the economy was in the hands of citizens, adding that he wanted more citizens to participate in the mining industry hence the new Botswana Minerals Policy of 2023.
The aims of the new policy include achieving increased opportunities for citizens to directly participate in mining, whether as contributors of capital, labour, goods or services, and to strengthen local capacity for participation in mineral development.
During the last five years, the country saw the opening of new mines, one being Khoemacau and Motheo Project Open Cast mine in Palapye at the Morupule Coal Mine. Another notable achievement under President Masisi is winning the bid to host the Kimberly Process permanent secretariat.
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