On June 23, the De Beers diamond company and Botswana celebrated the 40th anniversary of their partnership, which commenced with the signing of the lease agreement for the Orapa diamond mine on June 23, 1969 and the establishment of De Beers Botswana Mining Company Limited (subsequently renamed Debswana). De Beers called this cooperation “one of the most successful and enduring public-private partnerships in the world.”



Since the inception of the Botswana / De Beers partnership, Botswana has emerged as a middle income country. Debswana, says De Beers, has been a major driver in realizing this achievement.



During the past four decades, Botswana has boasted one of the highest economic growth rates in the world. Debswana has driven job growth in Botswana, with 25% of employment in the country directly or indirectly linked to diamonds. Debswana currently employs a staff of nearly 6,000 staff and is the largest single employer in Botswana, after the government. Botswana produces approximately $3.2 billion worth of diamonds each year, with diamonds accounting for 76% of Botswana’s export revenue, 45% of government revenue and 33% of GDP.



Nicky Oppenheimer, Chairman of De Beers, remarked: “Debswana has a bright future. It is built on the shared commitment to turn Botswana’s national resources into national assets, the unflinching dedication of its Batswana employees, and its resilience in the face of even the strongest of storms. It is the bedrock of a wonderful bond which De Beers has with the people of Botswana. Long may it continue!”