De Beers, ODC slept on the job - Boko

Despite headwinds facing the diamond industry, President Duma Boko remains optimistic and blames De Beers and Okavango Diamond Company for the low diamond sales the country is experiencing.

The President told parliament this week that statistics indicates that the demand for the rough diamond is very high, higher than demand for the synthetics. “How do you explain then a situation where this demand does not correlate with purchase?,” quizzed Boko. “Something is wrong here,” he added. Boko said despite engaging De Beers and Okavango Diamond Company, to sell and market the country’s diamonds, the two entities have not delivered on the project.

“We must agree they failed,” said President Boko to parliamentarians. He emphasized that the country must diversify away from diamonds, citing that his administration is working on diversification of the economy. “But we must also defend the diamond industry,” he said. President Boko further said his peers on the continent are supporting his efforts to voice concerns on unfair practices in the diamond industry. “I have said I am up to the task. That is why we want to acquire a majority stake in De Beers. The entirety of the stakes are angry. We want to acquire it. And we have a firm model that doesn't disadvantage the country to acquire that stake.”

He said Angola and Namibia have thrown their weight on Botswana’s decision to acquire the stake. Despite moving on a tightrope, ODC recently announced a leadership transition, with Managing Director, Mmetla Masire concluding his tenure on December 1, 2025, as the company enters a new strategic phase. Masire, who led ODC since July 2021, oversaw its highest-ever annual revenue in the 2022/2023 financial year, streamlined its organisational structure, and diversified sales channels, leaving the company in a strong operational and financial position. The Company stated that effective December 1, Lipalesa Makepe will assume the role of Acting Managing Director to ensure continuity and stability during the transition.

The Board commended Masire for his dedication, professionalism, and unwavering commitment to ODC’s growth. “The ODC Board expresses full confidence in Makepe’s leadership and the management team’s ability to sustain the company’s momentum.” Makepe, a seasoned finance executive with deep knowledge of ODC’s operations and the broader diamond sector, is expected to maintain the company’s focus on value-driven sales, governance excellence, and national benefit from Botswana’s diamond resources. ODC, wholly owned by the government, plays a pivotal role in the country’s diamond beneficiation strategy.