Dr. Akinwumi Adesina to Chair Botswana's Diamonds for Development Fund

The Government of the Republic of Botswana and De Beers Group have announced the appointment of Dr. Akinwumi Adesina as the Chairperson of the Diamonds for Development Fund. This strategic initiative aims to harness Botswana's diamond wealth for economic diversification, innovation, and job creation.

A Leader in African Development Takes the Helm

Dr. Akinwumi Adesina, a globally respected development economist, brings nearly four decades of experience in African and international development to his new role. He will formally assume his duties on June 15, 2026. Dr. Adesina is widely recognized for his impactful tenure as the 8th President of the African Development Bank (AfDB), from 2015 to 2025. During his leadership, the AfDB saw a significant increase in its capital base, growing from $93 billion to $318 billion. He also established the Africa Investment Forum, which has mobilized over $225 billion in investment interests for African projects since its inception in 2018. Furthermore, his 'High 5s' development strategy reportedly benefited 565 million people across Africa, and he championed Mission 300, a joint initiative with the World Bank Group to expand electricity access to 300 million Africans by 2030.

Dr. Adesina's achievements have earned him numerous accolades, including Forbes Africa Person of the Year for 2013 and 2019, and Africa’s Man of the Year in 2022. He has consistently been listed among the Most Influential Africans and the world's most reputable people.

Maximizing Diamond Value for Botswana's Future

Honourable Bogolo Kenewendo, Botswana’s Minister of Minerals and Energy, expressed pride in Dr. Adesina's appointment, emphasizing its significance in maximizing the value of Botswana's diamonds. She stated, 'His appointment solidifies the position of the Government of the Republic of Botswana to maximise the value of Botswana diamonds as an anchor for economic transformation, diversification, innovation, beneficiation and citizen participation in the diamond value chain.' Minister Kenewendo added that Dr. Adesina's record as a reformer of strategic sectors would be instrumental in delivering the Fund’s ambitious mandate.

Al Cook, CEO of De Beers Group, echoed this sentiment, highlighting the need for exceptional leadership to achieve the Fund’s objectives. 'In Dr Adesina, I am confident we have found just that person,' Cook remarked. 'His track record in African development is outstanding, and his global network, commitment to strong governance, and understanding of the Fund’s priorities make him the right chair to shape the Fund’s support for Botswana’s long-term economic objectives.'

A Vision for Shared Prosperity

Dr. Adesina conveyed his deep honor at the appointment, describing the Diamonds for Development Fund as a visionary initiative. 'The Fund’s success will set a global benchmark for how natural resource wealth can create enduring value for generations to come,' he stated. 'It is not only diamonds that should shine, the lives of the people of Botswana must also shine.' He expressed his eagerness to collaborate with the Government of Botswana and De Beers Group to foster a more prosperous future for the nation.

Operationalizing the Fund

The Diamonds for Development Fund is currently in the final stages of appointing independent directors to its board, a crucial step towards becoming fully operational. The Fund is expected to play a pivotal role in Botswana's ongoing efforts to diversify its economy beyond mining, create sustainable employment, and expand opportunities for its citizens.