The Government of Botswana and the De Beers Group have appointed former African Development Bank president Akinwumi Adesina as the inaugural chairperson of the Diamonds for Development Fund.
The appointment was announced in a statement by De Beers Group, which described the initiative as a major step towards ensuring Botswana’s diamond wealth delivers wider and long-term economic benefits for citizens.
“The Government of the Republic of Botswana and De Beers Group are delighted to confirm that Dr Akinwumi Adesina has been appointed as the Diamonds for Development Fund’s Chairperson,” the company said in a statement.
Adesina’s appointment is expected to strengthen the initiative due to his extensive experience in development finance and economic transformation across Africa.
Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, described the fund as an important step in the country’s economic future.
“The Diamonds for Development Fund marks an exciting new chapter in Botswana’s sustainable economic development story,” she said.
Kenewendo added that Adesina’s track record and commitment to Africa’s development made him well suited for the role.
De Beers Group chief executive officer Al Cook also praised the former AfDB president, describing him as a respected global leader with deep expertise in development and economic transformation.
“He understands how natural resources can catalyse broader economic opportunity and long-term prosperity,” Cook said.
Responding to the appointment, Adesina said he was honoured to accept the position and expressed confidence in the initiative’s potential to drive inclusive growth.
“I am deeply honoured to serve as the inaugural Chairperson of the Diamonds for Development Fund,” he said.
“Botswana has long demonstrated how natural resource wealth can be managed responsibly and strategically for national development.”
Adesina added that the initiative could become a global model for using mineral wealth to support economic diversification, industrialisation and job creation across Africa.
He is expected to formally assume office on June 15, 2026.
According to the organisation, the Diamonds for Development Fund is currently finalising the appointment of independent board members as part of preparations to make the initiative fully operational.
The fund forms part of a broader partnership between Botswana and De Beers Group aimed at strengthening long-term economic resilience and expanding development opportunities beyond the mining sector.