{"id":18220,"date":"2022-12-10T11:34:42","date_gmt":"2022-12-10T11:34:42","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president"},"modified":"2022-12-10T11:34:42","modified_gmt":"2022-12-10T11:34:42","slug":"dtcb-is-botswana-major-forex-earner-president","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president","title":{"rendered":"DTCB Is Botswana Major Forex Earner \u2013 President"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Botswana. <\/strong><\/span><b>Diamond Trading Company Botswana (DTCB) has contributed immensely to the socio-economic development of Botswana through its handling of every diamonds mined by Debswana, President Mokgweetsi Masisi has said.<\/b><\/p>\n<p>Speaking at a gala dinner in Gaborone to mark the 50th anniversary of DTCB recently, President Masisi noted that the contribution of diamonds are a significant amount of government revenue that generate over 80 percent of Botswana\u2019s foreign exchange earnings.<\/p>\n<p><b>Most efficient<\/b><\/p>\n<p>\u201cThe mining sector, dominated by diamond mining, is one of the most efficient and profitable sectors in Botswana,\u201d the President said.<\/p>\n<p>\u201cIt contributes about 22 percent of Gross Domestic Product (GDP), 38 percent of government revenues, represents over 80 percent of exports earnings and 23 percent of customs revenues. These are not insignificant figures by any standard.\u201d<\/p>\n<p><b>880m carats over the years<\/b><\/p>\n<p>President Masisi noted that since inception, DTCB or its predecessor the Botswana Diamond Valuing Company (BDVC), has cleaned, sorted and valued all of Debswana\u2019s diamonds, which represent the vast majority of diamonds ever produced in Botswana.<\/p>\n<p>\u201cThis represents more than 880 million carats over the years,\u201d he noted. \u201cPractically, DTCB can sort up to 30 million carats per year. However, due to prevailing and unpredictable market conditions, DTCB has been sorting about 23 to 24 million carats annually.<\/p>\n<p>\u201cIt is through the provision of these services that enables the much-needed diamond proceeds from the sales to be declared to the Government of Botswana at the end of each sales cycle.\u201d<\/p>\n<p><b>DTCB journey<\/b><\/p>\n<p>DTCB is a 50\/50 joint venture between the Government of Botswana and the De Beers Group. It commenced operations in 1972 when the Botswana Development Corporation and De Beers formed a partnership that gave birth to BDVC to sort and value Debswana\u2019s production.<\/p>\n<p>Subsequently, BDVC became a wholly owned subsidiary of Debswana in 1977. In 1982, the BDVC building, known as Orapa House, was opened in Gaborone. In 2006, the government and De Beers signed an agreement to incorporate (DTCB) to take over the sorting and valuing operations of BDVC.<\/p>\n<p>\u201cThrough this agreement, DTCB became a catalyst for beneficiation in Botswana by supplying a specified portion of Debswana\u2019s production directly to the local cutting and polishing companies,\u201d President Masisi noted.<\/p>\n<p><b>Okavango Diamond Company<\/b><\/p>\n<p>\u201cDTCB then officially commenced its operations in 2008 to continue sorting and valuing Debswana\u2019s diamond production. To this day, DTCB cleans, sorts and values all diamonds from Debswana and employs various technologies to do so.<\/p>\n<p>\u201cThereafter, it sells the diamonds to its two customers, Okavango Diamond Company (ODC) and De Beers Global Sightholder Sales. DTCB has developed and evolved to become the world\u2019s largest and most sophisticated rough diamond sorting and valuing operation.\u201d<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/botswana\">Botswana<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Botswana. Diamond Trading Company Botswana (DTCB) has contributed immensely to the socio-economic development of Botswana through its handling of every diamonds mined by Debswana, President Mokgweetsi Masisi has said. Speaking at a gala dinner in Gaborone to mark the 50th anniversary of DTCB recently, President Masisi noted that the contribution of diamonds are [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":18218,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,12],"tags":[233,237,234],"class_list":["post-18220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-policy","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>DTCB Is Botswana Major Forex Earner \u2013 President - Botswana<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DTCB Is Botswana Major Forex Earner \u2013 President\" \/>\n<meta property=\"og:description\" content=\"Africa-Press &#8211; Botswana. Diamond Trading Company Botswana (DTCB) has contributed immensely to the socio-economic development of Botswana through its handling of every diamonds mined by Debswana, President Mokgweetsi Masisi has said. Speaking at a gala dinner in Gaborone to mark the 50th anniversary of DTCB recently, President Masisi noted that the contribution of diamonds are [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-10T11:34:42+00:00\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"DTCB Is Botswana Major Forex Earner \u2013 President\",\"datePublished\":\"2022-12-10T11:34:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president\"},\"wordCount\":450,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2022\/12\/postQueueImg_1670659971.85.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/dtcb-is-botswana-major-forex-earner-president\",\"name\":\"DTCB Is Botswana Major Forex Earner \u2013 President - 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