*Photo: Dr. Akinwumi Adesina
Former President of the African Development Bank (AfDB) Group and former Minister of Agriculture and Food Security of Nigeria, Dr Akinwumi Adesina, has been appointed as the inaugural Chairman of Botswana’s newly established Diamonds for Development Fund.
The appointment was jointly announced on Friday, May 29, 2026, by the Government of Botswana and the global diamond mining giant, De Beers Group.
Dr. Adesina will formally assume his leadership role on June 15, 2026.
Key Details of the Appointment and the Fund
• The Mandate: The Diamonds for Development Fund is designed to leverage Botswana’s immense natural diamond wealth to accelerate long-term economic diversification, promote industrialization, support a knowledge-based economy, and create jobs for its citizens.
• Financial Backing: Established as part of a 10-year agreement between the government and De Beers Group, the fund is anchored by an upfront investment of 1 billion Pula (~$75 million), with total contributions over the next decade projected to reach up to 10 billion Pula.
• Leadership Profile: Dr. Adesina brings nearly 40 years of international experience in African and global development finance. He recently completed a decade-long tenure as AfDB President in September 2025, where he successfully expanded the bank’s capital base from $93 billion to $318 billion.
• Official Reactions: Upon accepting the position, Dr. Adesina remarked: “The Diamonds for Development Fund represents a bold and visionary initiative… It is not only diamonds that should shine, the lives of the people of Botswana must also shine.”
