The economy beyond the bling 💎💸
#221: Diamond's should be Botswana's best friend.
Hello Venturer,
What's one thing you're looking forward to this weekend? I'm planning to binge-watch a documentary series I recently stumbled upon. It is a documentary about unearths the surprising connections between gemstones and ancient civilizations. My new interest was inspired by Botswana’s latest discovery of an extraordinary 2,492-carat diamond at the Karowe mine, potentially valued at over $40 million. This find, one of the largest ever, adds to the country's impressive record as the world’s top diamond producer by value. And this is not the first time the Karowe mine has made headlines; it has previously yielded other massive diamonds, such as the 1,758-carat Sewelô and the 1,109-carat Lesedi La Rona.
But here’s the thing, while the world marvels at this gigantic gem, there’s a much deeper story beneath the surface. Despite being a gem-producing powerhouse, Botswana faces the complex challenge of ensuring that its diamond wealth leads to long-term economic sustainability. This week, we're exploring, the Paradox of Botswana’s 2,492-Carat Diamond Discovery. It’s a fascinating look at how a nation’s greatest assets can also be its toughest test.
Suotunimi Orufa
Features writer, Ventures Africa
What’s new?
The paradox of Botswana’s 2,492-Carat diamond discovery
Botswana recently made headlines with the discovery of a massive 2,492-carat diamond at Lucara Diamond Corp’s Karowe mine. This extraordinary gem is believed to be the world’s second-largest gem-quality diamond ever unearthed, second only to the famed Cullinan diamond. Read more.
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