Debswana, a joint venture between Botswana’s government and Anglo American Plc’s De Beers, which produces almost all of Botswana’s diamonds, registered an 8% growth in output in 2022 to 24.1 million carats. Diamond trading grew 41% in the year as Botswana also benefitted from Western buyers shunning stones from Russia following its invasion of Ukraine.
In 2023, Botswana expects diamond output to decline by 1%, while diamond trading growth is seen slowing to 7% from 41% last year.
“We see the diamond sector having a bit of a tough year due to an expected slowdown in consumer demand particularly in

