The diamond industry, particularly the natural diamond sector, is currently experiencing significant volatility, highlighting the critical importance of the World Federation of Diamond Bourses (WFDB).
Speaking this week in New York, Minister of Minerals and Energy Ms. Bogolo Kenewendo underscored the need for a strong and unified voice from the WFDB as the 2025 Presidents’ meeting came to a close.
“Since its foundation in 1947, the WFDB has served as a conscience of our sector, a defender of ethical trade, a guardian of trust and a huge force throughout various jurisdictions,” she said.
As a longstanding advocate in diamond affairs, Minister Bogolo said that now is the time to respond with renewed energy to the modern challenges facing natural diamonds, Daily News Botswana reports.
She pledged the full support of the Botswana government, which has taken decisive action to defend natural diamonds, an industry that has been the cornerstone of the Southern African nation’s economy for decades.
In addition, Kenewendo reaffirmed Botswana’s strong commitment to upholding the standards and principles of the WFDB.
She highlighted that the current volatility in the natural diamond market demands a unified and determined effort to revive the struggling industry. The minister stressed that key priorities should include protecting natural diamonds, distinguishing them clearly from synthetic alternatives, and enhancing consumer education to help preserve the sector’s integrity.
“In Botswana, a natural organic diamond stands for possibility from the very first discovery of the gems in 1967. Diamonds have built lives, dreams, infrastructure and transformed the country tremendously”, she said.
She added that the powerful story of natural diamonds extends well beyond the borders of diamond-producing countries.
“The ripple effect of these stones has created generational wealth for people in the United States, India, and many other countries. Based on the undeniable contribution diamonds have made to the lives of people worldwide,” Ms Kenewendo stated.
Therefore, she stressed that natural diamonds must not be allowed to lose their value due to synthetic alternatives, which do not impact lives in the same profound way as natural stones.
“Natural diamond is a catalyst for economic and social upliftment,” she went on to say.
Founded in 1947, the WFDB is an association comprising the world’s leading diamond bourses, dedicated to advancing the interests of its members. Serving as the official body for the international diamond trading sector, the WFDB sets standardised trading practices for both rough and polished diamonds.