De Beers Commits $74.4M to Botswana's Diamonds for Development Fund, Appoints Akinwumi Adesina as Chair

Deal Summary

Botswana's government and De Beers have appointed former AfDB President Akinwumi Adesina as chair of the Diamonds for Development Fund. De Beers will invest BWP 1bn ($74.4m) upfront and provide annual dividend contributions, aiming to boost economic growth and diversification in Botswana.