SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsSourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund
Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
Dr. Akinwumi Adesina is slated to become chairperson of the Diamonds for Development Fund on June 15. Plans for the fund, created to help Botswana diversify its economy, were first announced in 2023.
Gaborone, Botswana—The Botswana government and De Beers Group announced last week that they have appointed a chairperson for the Diamonds for Development Fund, the pool of money being set aside to help the country diversify its economy.
Dr. Akinwumi Adesina, a development economist with nearly four decades of experience in global and African development issues, will lead the fund.
Adesina was the eighth president of the African Development Bank Group, first elected in 2015 and re-elected for a second term in 2020. He ended that term in September 2025.
During his time leading the group, he more than tripled the bank’s capital, established a forum to attract investment projects to African countries, and led the development of Mission 300, a plan to provide access to electricity for 300 million Africans by 2030.
Adesina was named Forbes’ Africa Person of the Year in 2013 and 2019, and Africa’s Man of the Year 2022 by EMY Africa.
He officially will assume his role on June 15.
De Beers and Botswana noted that they are in the process of finalizing the appointment of independent directors for the fund, a “vital next step” in getting it up and running.
Related stories will be right here …
Dr. Akinwumi Adesina, a development economist with nearly four decades of experience in global and African development issues, will lead the fund.
Adesina was the eighth president of the African Development Bank Group, first elected in 2015 and re-elected for a second term in 2020. He ended that term in September 2025.
During his time leading the group, he more than tripled the bank’s capital, established a forum to attract investment projects to African countries, and led the development of Mission 300, a plan to provide access to electricity for 300 million Africans by 2030.
Adesina was named Forbes’ Africa Person of the Year in 2013 and 2019, and Africa’s Man of the Year 2022 by EMY Africa.
He officially will assume his role on June 15.
De Beers and Botswana noted that they are in the process of finalizing the appointment of independent directors for the fund, a “vital next step” in getting it up and running.
The creation of the Diamonds for Development Fund was first announced in 2023 when De Beers and Botswana reached a new 10-year sales agreement.
The agreement called for De Beers to invest $75 million upfront and contribute up to $750 million over the span of the sales agreement, which was formally signed in October 2025.
The goal of the fund is to help Botswana cultivate new industries and create jobs both inside and outside of diamonds, as the country’s mines are set to run dry within the next 25 years.
Adesina said he is honored De Beers and the Botswana government chose him to head the fund.
“The Diamonds for Development Fund represents a bold and visionary initiative to ensure that the people of Botswana benefit directly from the wealth created by diamonds,” he said.
“The fund’s success will set a global benchmark for how natural resource wealth can create enduring value for generations to come. I look forward to working closely with the Government of Botswana and De Beers to ensure that the Diamonds for Development Fund contributes towards a more prosperous future for the people of Botswana.”
Editors' Picks
Sponsored by
More on Sourcing
The Latest
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
WatchesJun 22, 2026
Snoopy Inspires New ‘Flying Ace’ Ball WatchThe beloved beagle dons his aviator outfit for the new Engineer Master II Snoopy Flying Ace timepiece.
Weekly QuizJun 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
CollectionsJun 18, 2026
Michelle Obama Wears Almasika Earrings Symbolizing Feminine PowerShe wore the “Le Cauri Endiamanté” earrings, our Piece of the Week, in the Obamas’ first dual portrait for the Obama Presidential Center.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
GradingJun 17, 2026
SSEF Issues Warning on Refilled EmeraldsThe lab is seeing emeralds with filler added post-testing enter the market, accompanied by reports that indicate little to no treatment.
WatchesJun 17, 2026
Patek Philippe’s ‘Visionary’ Leader Philippe Stern Dies at 88 The third generation of the Stern family to head Patek Philippe, he navigated the “quartz crisis” and preserved the brand’s independence.
MajorsJun 17, 2026
James Avery to Revamp In-Store Retail ExperienceThe Texas-based jeweler is gradually rolling out a new experience-forward layout in its stores.
MajorsJun 17, 2026
Seahawks’ Super Bowl Ring Blends Meaningful Design, Technical CraftsmanshipThe Super Bowl LX champions were honored with diamond and blue sapphire rings by Jason of Beverly Hills.
Policies & IssuesJun 17, 2026
Community for Ethical Jewelry Names New Executive DirectorMarianna Smirnova previously spent a decade working with the Responsible Minerals Initiative, in addition to other relevant roles.
MajorsJun 16, 2026
5 Things to Know About the 2026 NBA Championship TrophyThe New York Knicks took home the Larry O'Brien Trophy crafted by Tiffany & Co.
TrendsJun 16, 2026
Post-Vegas Jewelry Trend Report: Big Beads, Western Flair, White MetalsAssociate Editor Natalie Francisco lists the trends she spotted during Jewelry Market Week that will dominate the second half of 2026.
MajorsJun 16, 2026
Sasha Primak Hires New Design DirectorThe manufacturer has tapped Alicia Arnold, the former director of custom design at Tiny Jewel Box.
IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
