ABN AMRO Bank N.V., one of the main financiers of the diamond industry, has announced that it will be closing its office in Botswana. In a statement, the Dutch bank said the office, which currently includes a small team from the International Diamond and Jewelry Group, "is too limited to be sustainable."

"Whilst recognizing the important and favorable position of Botswana within this sector, the scale of the bank's operations in the country in the context of its global platform is too limited to be sustainable." ABN AMRO said.

"Clients are being informed. ABN AMRO is actively engaging in a dialogue with each client to find an optimal solution, related to the continuation of the business in the region from other locations," ABN AMRO said.

Ironically, the shuttering of ABN AMRO's Botswana offices comes just after De Beers conducted its last Sight in England, and prepares to hold its first Sight in Botswana's capital, Gaborone.

The ID&JG operations in Botswana are subsidiaries of ABN AMRO Bank N.V and employ four people.