Politics

Botswana’s new president wants swift resolution of De Beers diamond deal

Published

2 months ago

November 2, 2024

Duma Boko, the recently elected president of Botswana, stated on Friday that he hoped to wrap up negotiations for a new sales agreement with the multinational diamond mining conglomerate, De Beers, as quickly as possible.

“The relationship with De Beers could have been damaged by the way the negotiations were handled,” President Boko said in a televised statement from Gaborone, Botswana’s capital. “The first thing that needs to be done is to engage the other party”.

The government’s portion of diamonds from the Debswana joint venture will progressively rise to 50% over the following ten years, according to a new diamond sales agreement reached last year by De Beers, a division of Anglo American.

Currently, De Beers purchases 75% of the production from Debswana Diamond Company, which is jointly controlled by Botswana and De Beers.

The agreement has not yet been signed, even though the Botswana government and the departing president, Mokgweetsi Masisi, praised its benefits Beers was “thinking about walking away, not signing at all… (a) very dangerous position to be in as a country,” according to Boko.

According to Boko, his new government wishes to communicate with De Beers to comprehend its issues.

“A proper negotiation involves compromise, where you get a bit of what you wanted, the other person gets a bit,” Boko said. “Then…you have a durable, sustainable agreement.”

As part of a larger reorganisation of its extensive operations, Anglo is developing a strategy to sell out De Beers. In July, Masisi stated that the Botswana government might increase its 15% stake in De Beers.A decline in worldwide demand has severely impacted diamond prices, just like it has for other luxury items. De Beers has been providing contracted clients with flexibility and limiting supply.

Related Topics:Botswana De Beers Featured

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Politics

Burkina Faso releases 4 French spies after Moroccan intervention

Published

1 day ago

December 20, 2024

Ifeoluwa Dada

In a diplomatic spat over their imprisonment, France and Morocco announced Thursday that four French nationals detained in Burkina Faso for a year had been freed after mediation from Morocco.

They were spies, according to a prior statement made by the director of France’s foreign intelligence organisation, the DGSE.

A request for comment was not answered by the DGSE or a representative of the French military, which is in charge of the agency.

Since December 2023, they have been held in Ouagadougou.

President Emmanuel Macron hailed King Mohammed of Morocco on Wednesday for his intervention, “which made possible the liberation of our four countrymen who had been held in Burkina Faso for a year,” according to a statement from the French administration.

King Mohammed and President Ibrahim Traore of Burkina Faso were also commended by Morocco’s foreign ministry, which stated that “this humanitarian act” was made possible by their positive bilateral ties.

In October, France made peace with Morocco, one of its former protectorates, after three years of hostilities between Paris and Rabat stoked by immigration concerns and the disputed Western Sahara region.

Morocco offers Burkina Faso and other military-ruled Sahel republics Atlantic trade.

However, France’s relations with former West and Central African colonies, such as Burkina Faso, remain difficult. In Ouagadougou, French troops and diplomats were ejected, the defence attache and ambassador were asked to depart, and certain French media were suspended.

The military junta that took control in 2022 in Burkina Faso has been criticized by international rights groups for cracking down on free expression and harassing dissidents to handle a security crisis precipitated by Al Qaeda and Islamic State extremists.

Politics

Ghana: President-elect Mahama appoints anti-corruption team

Published

2 days ago

December 19, 2024

Ifeoluwa Dada

According to a statement released by his transition team on Wednesday, Ghana’s President-elect, John Dramani Mahama, has designated an anti-corruption committee to investigate allegations of wrongdoing.

When he takes office next month, Mahama, the leading opposition candidate in the presidential election held on December 7 and who received almost 56% of the vote, has pledged to reclaim the proceeds of corruption and hold those responsible for it accountable.

In anticipation, an anti-graft squad has been established. The parliament’s Committee on Assurances, which has previously raised suspicions of governmental corruption, is chaired by MP Samuel Okudzeto Ablakwah.

An investigative journalist, a private attorney, a former auditor general, and a former police officer with experience in high-profile robbery cases make up the other three members.

After looking into alleged financial irregularities that took place during the previous administration, Daniel Dumelovo, the former auditor general, was fired.

Recovering lost assets and fighting corruption were two of Mahama’s main campaign pledges.

“He intends to hit the ground running on these commitments,” the statement said.

Eight years after leaving office, former President Mahama is back to head the West African country. Despite not being personally contaminated, he faced criticism during his 2012–2016 administration due to claims of political corruption.