The government of the Republic of Botswana and De Beers Group have appointed former African Development Bank President, Akinwumi Adesina, as chairperson of the Diamonds for Development Fund, a new initiative aimed at driving Botswana’s economic diversification through diamond wealth.
The announcement was jointly made by Botswana’s Ministry of Minerals and Energy and De Beers Group, in a statement signed by Neo Sealetsa, Chief Public Relations Officer of Botswana’s Ministry of Minerals and Energy, and De Beers Group.
The statement says Dr Adesina is expected to formally assume office on June 15, 2026.
Diamonds for Development Fund was established as a strategic partnership between the Botswana government and De Beers Group to ensure that the country’s diamond resources contribute directly to long-term economic transformation, innovation, beneficiation, and job creation.
Adesina, an internationally recognised development economist and global leader, brings nearly four decades of experience in African and global development.
He served as the 8th elected President of the African Development Bank Group from 2015 to September 2025, completing two terms in office.
During his tenure at the African Development Bank, Adesina oversaw a significant increase in the bank’s capital base from $93 billion to $318 billion, the largest expansion in the institution’s history.
He also spearheaded the establishment of the Africa Investment Forum in 2018, which has since mobilised more than $225 billion in investment interest for projects across the continent.
The statement quoted the Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, as describing the appointment as a major boost to the country’s economic transformation agenda.
“We are proud and honoured to have Dr Akinwumi Ayodeji Adesina join the Diamonds for Development Fund as Chairperson.
“His appointment solidifies the position of the Government 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”, she said.
The minister added that the government looked forward to benefiting from Adesina’s experience as “an internationally accomplished reformer of strategic sectors.”
It also quoted the Chief Executive Officer of De Beers Group, Al Cook, as saying the fund requires “an extraordinary leader” to achieve its ambitions of economic diversification and employment generation.
“In Dr Adesina, I am confident we have found just that person. His track record in African development is outstanding, and his global network, commitment to strong governance, and understanding of the Fund’s priorities make him the right chairperson to shape the Fund’s support for Botswana’s long-term economic objectives”, he said.
