DIAMONDS AND DOLLARS: The obscure transactions of the sparkling industry
Extensive financial transactions between De Beers sightholder Julius Klein Group, its subsidiary Julius Klein Botswana and De Beers Global Sightholders Sales (Botswana) give a rare and fascinating glimpse into the diamond industry’s flow of capital, documents obtained by BuzzFeed and shared with International Consortium of Investigative Journalists and INK Centre for Investigative Journalism reveal.
Botswana raids its piggy bank
The Pula Fund was established to cushion the country once its revenue from diamonds dries up. But critics say it’s more of an emergency slush fund, write Joel Konopo, Ntibinyane Ntibinyane, Keabetswe Newel and Olebile Letlole.
