By Abubakar Yunusa
Akinwumi Adesina, former president of the African Development Bank (AfDB), has been appointed as the chairperson of Botswana’s Diamonds for Development Fund (DDF).
Botswana’s government and De Beers Group, the global diamond company, announced the appointment in a joint statement seen on Monday.
According to the statement, the fund was established to support Botswana’s economic diversification efforts and ensure that revenues generated from diamonds contribute to long-term development and job creation.
Speaking on the development, Bogolo Kenewendo, Botswana’s minister of minerals and energy, said Adesina’s appointment aligns with the country’s objective of using its diamond resources to drive economic transformation.
“We are proud and honoured to have Dr Akinwumi Adesina join the Diamonds for Development Fund as chairperson,” Kenewendo said.
“His appointment solidifies the position of the Government of the Republic of Botswana to maximise the value of Botswana diamonds as an anchor for economic transformation, diversification, innovation, beneficiation and citizen participation in the diamond value chain.”
Al Cook, chief executive officer of De Beers Group, said Adesina’s experience in development finance and governance made him well-suited to lead the fund.
“When we set up the groundbreaking Diamonds for Development Fund with the Botswana government, we knew that we would need an extraordinary leader to achieve our ambition of economic diversification and job creation,” Cook said.
“In Dr Adesina, I am confident we have found just that person.”
Accepting the appointment, Adesina described the fund as a bold initiative designed to ensure that Botswana’s citizens benefit directly from the country’s natural resource wealth.
“The Diamonds for Development Fund represents a bold and visionary initiative to ensure that the people of Botswana benefit directly from the wealth created by diamonds,” he said.
“It is not only diamonds that should shine, the lives of the people of Botswana must also shine.”
Adesina said the fund could become a global model for converting natural resource wealth into long-term economic value.
Adesina, a development economist, served as the eighth elected president of the AfDB from 2015 to 2025.
According to the statement, the former AfDB president is expected to formally assume office as chairperson of the Diamonds for Development Fund on June 15, 2026.
The government of Botswana and De Beers said the process of appointing independent directors to the fund’s board is ongoing as part of efforts to make the institution fully operational.
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