By Mohamed Kamara
Freetown, Sierra Leone — Botswana has made headlines with the discovery of Africa’s largest diamond, weighing an impressive 125 carats. The announcement was made public on Thursday, August 22, 2024, as reported by the BBC. This diamond surpasses all others found in Africa, with Botswana now holding a notable position in the global diamond industry.
The recent find adds to Botswana’s impressive track record in diamond discoveries. Notably, four of the five largest diamonds ever unearthed globally have been found in Botswana, with the fifth being discovered in Sierra Leone in the 1970s.
Botswana’s success in the diamond industry has had a significant impact on its economic standing. Unlike many other African countries burdened with substantial internal, bilateral, and multilateral debts to international financial institutions, Botswana’s debt is minimal, accounting for less than 0.5% of its GDP. This financial stability is attributed to the country’s prudent management and transparent governance.
Having been a British colony until gaining independence in the 1960s, Botswana has distinguished itself with a stable government and a developing economy. The nation has experienced neither political instability nor military coups, setting it apart from many of its regional counterparts. Botswana’s economic management and diamond wealth have positioned it as a beacon of stability and prosperity in Southern Africa, further solidifying its reputation in the global diamond market.
