The Government of Botswana and the De Beers Group have appointed the former President of the African Development Bank (AfDB), Akinwumi Adesina, as the inaugural chairperson of the Diamonds for Development Fund.
The appointment was announced in a statement by De Beers Group, which described the initiative as a major step towards ensuring that Botswana’s diamond wealth delivers broader, long-term economic development for its citizens.
“The Government of the Republic of Botswana and De Beers Group are delighted to confirm that Dr Akinwumi Adesina has been appointed as the Diamonds for Development Fund’s Chairperson,” a statement posted on the De Beers Group read in part.
Adesina’s appointment is seen as a significant boost for the initiative, given his extensive experience in development finance and economic transformation across Africa.
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Commenting on the appointment, Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, said the fund represents a bold vision for Botswana’s economic future.
“The Diamonds for Development Fund marks an exciting new chapter in Botswana’s sustainable economic development story,” she said.
Kenewendo added that Adesina’s appointment reflects confidence in his leadership and development credentials.
“Dr Adesina’s distinguished career and unwavering commitment to Africa’s prosperity make him the ideal person to chair this important initiative,” she stated.
De Beers Group Chief Executive Officer, Al Cook, also described the former AfDB president as a globally respected leader with deep development expertise.
“Dr Adesina brings unparalleled experience in economic transformation and development finance across Africa,” Cook said.
“He understands how natural resources can catalyse broader economic opportunity and long-term prosperity.”
Responding to the appointment, the former agriculture minister in Nigeria said he was honoured to accept the role and expressed optimism about the transformative potential of the initiative.
“I am deeply honoured to serve as the inaugural Chairperson of the Diamonds for Development Fund,” he said.
“Botswana has long demonstrated how natural resource wealth can be managed responsibly and strategically for national development.”
He added that the initiative could become a model for resource-backed development across Africa.
“This Fund has the potential to become a global example of how diamond wealth can drive economic diversification, industrialisation, job creation, and inclusive growth,” Adesina stated.
The former AfDB president also emphasised the importance of ensuring that Africa’s mineral wealth translates into tangible benefits for citizens and future generations.
He will formally assume his new role on 15 June 2026.
“The Diamonds for Development Fund is now in the process of finalising the appointment of independent directors to its board as the vital next step in making the Fund operational,” the organisation wrote on its website.
The Diamonds for Development Fund forms part of a broader cooperation between Botswana and De Beers Group aimed at maximising the long-term developmental value of the country’s diamond industry while strengthening economic resilience beyond mining.
According to the statement, the Diamonds for Development Fund is aimed at supporting sustainable economic growth, diversification, infrastructure, and community development in Botswana through strategic investments tied to the country’s diamond resources.
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