Botswana and De Beers Name Akinwumi Adesina Chair of Diamonds for Development Fund
The Government of Botswana and De Beers Group have appointed Dr. Akinwumi Adesina, former President of the African Development Bank (AfDB), as Chairperson of the Diamonds for Development Fund (DDF), a landmark initiative aimed at transforming Botswana’s diamond wealth into long-term economic and social benefits.
Dr. Adesina, a globally respected development economist with nearly four decades of experience, served as the eighth President of the African Development Bank Group from 2015 to 2025.
During his tenure, he oversaw a significant expansion of the Bank’s capital base from $93 billion to $318 billion and launched major initiatives, including the Africa Investment Forum, which has generated more than $225 billion in investment interest across the continent.
He also spearheaded the AfDB’s “High 5” development strategy, which positively impacted an estimated 565 million people, and helped launch Mission 300, a joint initiative with the World Bank to provide electricity access to 300 million Africans by 2030.
Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, welcomed the appointment, describing Adesina as an accomplished reformer whose leadership will help maximize the value of Botswana’s diamond resources while promoting economic diversification, beneficiation, innovation, and greater citizen participation in the diamond value chain.
De Beers Group CEO Al Cook said Adesina’s extensive experience in African development, strong governance credentials, and global network make him ideally suited to guide the Fund’s mission of driving job creation and supporting Botswana’s long-term economic objectives.
Accepting the appointment, Adesina said the Diamonds for Development Fund represents a bold vision to ensure that Botswana’s citizens directly benefit from the wealth generated by the country’s diamond industry.
“It is not only diamonds that should shine; the lives of the people of Botswana must also shine,” he said. “The Fund has the potential to become a global model for how natural resource wealth can be transformed into lasting prosperity for future generations.”
Dr. Adesina will formally assume the role on June 15, 2026. The Diamonds for Development Fund is currently finalizing the appointment of independent board members as it moves toward becoming fully operational.
