Staff Writer
The World Federation of Diamond Bourses has concluded its International Summit in Gaborone, Botswana, where Botswana and Angola were officially admitted as nation-affiliated members of the organisation.
The summit brought together government officials, industry leaders and stakeholders from across the global natural diamond industry to discuss the future of the sector amid changing market conditions and shifting consumer preferences.
The meeting was held in partnership with Botswana’s Ministry of Minerals and Energy under the theme “Nation-Building and the Future of Responsible Luxury.”
Discussions focused on the future of natural diamonds, including beneficiation, sustainability, transparency, responsible sourcing and value creation in producing countries and trading centres.
The summit also focused on strengthening consumer confidence in natural diamonds and improving the sector’s long-term competitiveness.
The World Federation of Diamond Bourses said the inclusion of Botswana and Angola expands the organisation’s international representation and strengthens cooperation between diamond-producing countries and the global trading industry.
The federation said the move reflects the growing importance of producer countries in shaping the future of the natural diamond sector.
WFDB president Yoram Dvash said the summit highlighted the need for closer cooperation across the diamond industry.
“Bringing together governments, producers, traders and industry leaders in Botswana reflects the increasing importance of alignment across the natural diamond sector at a time of significant change for the industry,” Dvash said.
Botswana’s minister of minerals and energy Bogolo Kenewendo said hosting the summit during Botswana’s 60th anniversary celebrations reflected the country’s role in the global diamond industry.
“Hosting the WFDB International Summit in Botswana during the celebration of our 60th anniversary reflects the important role Botswana has played in the governance and promotion of natural diamonds. It further highlights the impact diamonds have had on our national development journey,” Kenewendo said.
Angola’s minister of mineral resources, petroleum and gas Diamantino Azevedo said joining the federation would strengthen Angola’s engagement with the international diamond market.
“Angola is committed to building a modern, transparent and globally competitive diamond sector. Joining the WFDB represents an important step in strengthening our engagement with the international trading community while supporting broader co-operation across the industry,” Azevedo said.
Founded in 1947, the World Federation of Diamond Bourses represents leading diamond trading centres around the world and promotes ethical trade, transparency and sustainability in the natural diamond industry.
