Akinwumi Adesina appointed chair of Botswana’s Diamonds for Development Fund

Dr Akinwumi Adesina, former president of the African Development Bank Group, has been appointed inaugural chairperson of Botswana’s Diamonds for Development Fund, a major new initiative aimed at accelerating economic diversification in the diamond-rich nation.

The appointment brings a prominent pan-African development leader to the helm of a fund created through a landmark partnership between the Government of the Republic of Botswana and De Beers Group. The initiative follows a period of extensive negotiation and consultation between the state and the global diamond company.

The Diamonds for Development Fund has been established to support Botswana’s long-term transition away from reliance on raw mineral extraction. It will focus investment on infrastructure, technology and human capital development as part of efforts to build a knowledge-based economy.

Its core objectives include economic diversification into high-value sectors such as services, technology and manufacturing, as well as the creation of sustainable, skilled employment opportunities for local communities.

Welcoming the appointment, De Beers Group chief executive Al Cook said Dr Adesina’s experience made him uniquely suited to lead the initiative.

“When we set up the groundbreaking Diamonds for Development Fund with the Botswana Government, we knew that we would need an extraordinary leader to achieve our ambition of economic diversification and job creation. In Dr Adesina, I am confident we have found just that person.”

Cook highlighted Adesina’s long record in development finance and agricultural transformation across Africa, as well as his international networks and commitment to strong governance.

“He is a man characterized by deep integrity and outstanding delivery,” Cook added, “and I very much look forward to seeing him steer Diamonds for Development in the years to come.”

Under Dr Adesina’s leadership, the fund is expected to move from agreement into implementation, positioning itself as a key vehicle for development finance in Botswana.

It is designed to channel resource wealth into productive sectors and strengthen the country’s economic resilience beyond diamonds, with a focus on long-term structural transformation.