Former AfDB President Akinwumi Adesina Named Chair of Botswana’s Diamonds for Development Fund
The Botswana government and De Beers have appointed former African Development Bank (AfDB) President Dr Akinwumi Adesina as Chairperson of the Diamonds for Development Fund, a joint initiative aimed at accelerating the country’s economic diversification and long-term development.
Adesina, who served as President of the AfDB from 2015 to 2025, brings extensive experience in development finance and economic transformation.
During his tenure, he oversaw the growth of the bank’s capital base from $93 billion to $318 billion, launched the Africa Investment Forum to attract investment into strategic projects across the continent, and spearheaded Mission 300, an initiative aimed at providing electricity access to 300 million Africans by 2030.
Welcoming the appointment, Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, said Adesina’s leadership would strengthen the country’s efforts to maximize the value of its diamond resources as a catalyst for economic transformation.
“We are proud and honoured to have Dr Akinwumi Adesina join the Diamonds for Development Fund as Chairperson.
His appointment reinforces Botswana’s commitment to using its diamond wealth to drive economic diversification, innovation, beneficiation, and greater citizen participation across the diamond value chain,” Kenewendo said.
She added that Adesina’s track record as a reformer and development leader would be instrumental in helping the fund achieve its ambitious objectives.
De Beers Group CEO Al Cook also welcomed the appointment, noting that strong leadership would be critical to delivering the fund’s goals of economic diversification and job creation.
“In Dr Adesina, we have found an exceptional leader. His outstanding record in African development, commitment to good governance, and deep understanding of economic transformation make him ideally positioned to guide the fund and support Botswana’s long-term development objectives,” Cook said.
Adesina will officially assume the role on June 15. He described the fund as a visionary initiative designed to ensure that Botswana’s diamond wealth delivers lasting benefits to its citizens.
“It is not only diamonds that should shine; the lives of the people of Botswana must also shine,” Adesina said.
“The Diamonds for Development Fund represents a bold opportunity to ensure that the wealth generated from Botswana’s natural resources creates sustainable prosperity for current and future generations.
I look forward to working closely with the Government of Botswana and De Beers to help deliver a more prosperous future for the country.”
The Diamonds for Development Fund is currently finalising the appointment of independent directors to its board as it moves toward becoming fully operational.
Established through a partnership between the Government of Botswana and De Beers, the fund is expected to play a key role in supporting economic diversification, entrepreneurship, industrial development, and job creation beyond the diamond sector.
