While rough diamonds are now aggregated in Botswana, the local cutting and polishing industry struggles to compete with established hubs in India and Israel. Critics argue that De Beers protects its traditional supply chains, leaving Botswana with the low-margin work of sorting while high-margin manufacturing remains offshore. The "raw deal" narrative suggests that Botswana is doing the heavy lifting of extraction while the true wealth generation happens elsewhere.
Critics argue Botswana has already been getting a raw deal for 50 years. They point to the "Sightholder" system—an opaque, invitation-only club where a select few buyers purchase rough diamonds at De Beers-set prices. While rough diamonds are now aggregated in Botswana,
The government of Botswana has taken steps to increase its share of the revenue, but more needs to be done to ensure that the country benefits from its rich diamond deposits. The government must also prioritize the needs of local communities and ensure that the industry is operated in a responsible and sustainable manner. Critics argue Botswana has already been getting a
to a "Diamonds for Development" fund to help diversify Botswana’s economy. Why "Raw Deal" Talk Persists The government must also prioritize the needs of