A recent article from ‘Mineweb’ reports on the failure of the DTCB (Diamond Trading Company Botswana) to fully achieve their expected potential. In response, Mr. Kago Mmmopi, the Communications and Public Affairs Manager of one of the world’s leading diamond producers, recounts that there have been 1,000 less job openings than expected in the diamond polishing and cutting industry, mainly due to the economic recession.

As a result of the poor demand for diamonds world-wide, the diamond polishing and cutting industries have suffered loss of revenue and been forced to make cutbacks in man power. The same holds true for the DTCB which has had to make unwanted job cutbacks as well.

Originally, when the DTCB was established, former President Festus Mogae believed that the diamond cutting and polishing industry would help create more jobs and provide increased revenues for the government of Botswana. The DTCB was seen as a marketing company for selling diamonds to diamond polishers and cutters whose operations would be located in Botswana, thus providing new job opportunities and additional revenue to the country.

The ‘Mineweb’ release goes on to describe the potential of the DTCB and explains why the DTCB has fallen short of expectations.

Mr. Kago Mmopi adds, “The DTCB had planned to sell $550 million worth of carats this year, of which we have not been able to. Of the 3,300 new jobs expected in the diamond polishing and cutting industry, only 2,300 have been created so far”.