It seemed too good to be true. A diamond-rich, corruption-free, democratic, prosperous, and peaceful African country with a tradition of peaceful transfer of presidential power (the incumbent president voluntarily leaves office a year before the next general election). It was.
Too many mines, too little to show for them – that is Botswana’s problem. Diamonds, copper, nickel – all have been hard hit by falling world resource prices, and for the first time since independence, the country historically seen as one of Africa’s success stories is confronting real economic decline. By Joel Konopo for INK.
An exceptional diamond agreement revealed by Mossack Fonseca, a Panama-based offshore service provider, obtained by the International Consortium of Investigative Journalists, raises questions about the secrecy that shapes Botswana’s diamond industry.