Former AfDB Chief Dr. Akinwumi Adesina Appointed Inaugural Chair of Botswana’s ‘Diamonds for Development Fund’

In a major move for southern Africa’s economic landscape, the Government of the Republic of Botswana and the De Beers Group have officially announced the appointment of Dr. Akinwumi Adesina as the first-ever Chairperson of the Diamonds for Development Fund.

Dr. Adesina, a globally recognized development economist who served as the 8th President of the African Development Bank (AfDB) from 2015 until late 2025, will formally step into the role on June 15, 2026.

Transforming Diamond Wealth into Lasting Growth

The newly established fund is a pioneering, collaborative initiative designed to ensure that Botswana’s extensive diamond wealth directly powers long-term economic diversification, citizen empowerment, and technological innovation. Rather than relying solely on raw mineral exports, the fund aims to anchor sustainable transformation across the country’s local supply chains.

“I am greatly honoured to be appointed the Chairman… 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. It is not only diamonds that should shine, the lives of the people of Botswana must also shine.”

— Dr. Akinwumi Adesina

High-Level Support

The appointment has drawn widespread praise from both public and private sectors:

• Honourable Bogolo Kenewendo, Botswana’s Minister of Minerals and Energy, emphasized that Dr. Adesina’s legendary track record as a strategic reformer makes him the ideal choice to unlock the fund’s ambitious mandate.
• Al Cook, CEO of De Beers Group, highlighted Adesina’s deep integrity, outstanding delivery in African development finance, and his extensive global network as vital assets for generating new jobs and economic resilience.

During his ten-year tenure at the AfDB, Dr. Adesina famously led efforts that more than tripled the bank’s capital base from $93 billion to $318 billion, championing massive infrastructure and energy projects across the continent.

Fast Facts: The Appointment at a Glance

The Diamonds for Development Fund is currently finalizing the selection of independent directors to its board as it prepares to launch full operations later this month.

Reported by ABT NEWS Internal Desk. For live updates, visit www.abtnews.net. All advertising enquiries should be sent to advertise@abtnews.net or +447918790290