De Beers to relocate its auction headquarters to Botswana

Diamond mining company group De Beers plans to relocate its auction headquarters from Singapore to Botswana. This follows a similar move by the company in 2013, where Global Sightholder sales were moved from the United Kingdom to Gaborone. The group says this is an effort to streamline operations while supporting development in that country.
Pan-African activist, Adv. Sipho Mantula unpacks the kinds of benefits this reinforces for the Batswana.
Tune into Newzroom Afrika DStv channel 405 for more.

[@matome7301]

President Masisi creating waves.

[@khaltsharivist365]

That’s a win for Masisi & the people of Botswana. They tried to stone wall him and he played hard ball with them. If only more resource rich countries can play to their strength instead of misleaders accepting brown envelopes and lopsided deals.

[@BatsiraiMusuka]

Afrika is finally beginning to win. Was it too much to ask for?

[@ChristinaMatila-ot2ld]

Botswana president is a man of integrity and high morals He understands what it means to be a good leader He knows how to serve his people South Africa is in dire need of this kind of leadership

[@wesleyselabe5350]

Wrong clips. All the footage played there must be of Rwanda. There are certainly not of Gaborone/Botswana.

[@Papito_ZA]

Bless@ B Adv Sipho Mantula AKA Ras Sipho 2 dem streets 🙏🏼 ..

[@lindacele2600]

I salute President Masisi, he work in silence while Eff an Anc are making useless noise in South Africa.

[@leshegomokganya2416]

De Beers has always been strategic, from diamond price control to influx control, so I'm sure this follows the same pattern.

[@lovedlover2667]

Not so much this time. Botswana gov holds 50% stake. That's a game changer

[@leshegomokganya2416]

​@@lovedlover2667 I highly doubt it; remember that the profits mines make are so large that even when a mine reaches a few hundred million dollars, most mining companies sell it off downwards as it is no longer feasible for them, implying that the profit margins are so wide that they have plenty of room to move.

[@leshegomokganya2416]

But 50% for Botswana is a good move, will not take that away from them as well.

[@lovedlover2667]

@@leshegomokganya2416 exactly

[@firstcomment749]

The mine bosses obviously trust govs who adhere + apply the rule of law.

[@marcosmith7559]

Very weak analyst, Botswana wanted more shareholding, Debeers now just moved a very huge cost factor to Botswana do the math, their bottom line imroves, Botswana now makes more but picks up the tab for Debeers world wide....nice move.

[@tinei011]

Agree with you. Essentially DE Beers is divesting itself as weak gem sales are hitting. Anglo American has even put De Beers for sale with no takers so far. I don't think it's really a win for Botswana as they're taking over a dying business

[@keabetswemachailo290]

Very disappointing. They should have called me

[@shopekassie]

As long as they leave our mines and transfer their mining rights to Black South Africans.

[@gtxchufxvj]

You waant it for free 😂 typical.

[@lesetjaledwaba5877]

What's stopping you from starting a mining company, sourcing and building your own mining infrastructure, liaising with the corrupt anc for rights, mine and stop whining. No private company will simply spoon feed you for free. Go study mining or sth

[@shopekassie]

@@gtxchufxvj Yes, these White foreign companies had it for free over centuries. You kept quiet. What is good for the goose, is good for the gander.

[@gavinjohn]

The largest exporter of rough by value, at 32% market share, is the EU, followed by UAE at 15% and then Botswana at 11%.

[@heaviikago]

Botswana produces 90% gem

[@Babes__]

That's a win for Africa. African countries should control all aspects of trade for their raw materials.