President Dr. Mokgweetsi Masisi has called upon Heads of Mission stationed abroad to safeguard Botswana's diamond interests and endorse his push for a new and enhanced agreement with De Beers, the world's leading diamond producer. Addressing the Heads of Mission Conference in Gaborone yesterday, President Masisi acknowledged the progress made in the previous negotiations with De Beers but emphasized that there was still ample room for improvement.

Reflecting on the shortcomings of the previous agreement, President Masisi highlighted fundamental flaws and expressed dismay at the unfavorable terms Botswana endured for so long. He stressed that the outdated agreement favored De Beers excessively at Botswana's expense. President Masisi attributed this disadvantageous situation to the lack of sophistication in crafting the deal, labeling Botswana as a victim of 'agreement-based violence' perpetrated by its own partner.

Determined to rectify the situation, President Masisi asserted that his administration would not continue with the flawed agreement and instructed his negotiating team to abstain from signing it. Despite acknowledging the potential political ramifications of this decision, President Masisi remained resolute in prioritizing Botswana's long-term interests over short-term considerations.

President Masisi criticized the clause in the previous agreement that restricted government participation to rough diamond sales, thereby depriving Botswana of its fair share of the diamond value chain. He emphasized the need for Botswana to benefit more from its abundant diamond resources and proposed renegotiating the terms to ensure greater participation and beneficiation.

Highlighting the significant economic potential of the diamond industry, President Masisi underscored the importance of maximizing Botswana's gains by renegotiating the agreement to include greater beneficiation opportunities. Additionally, he indicated the government's intention to extend similar propositions to other natural resources, including the wildlife economy, aiming for a transformative shift in the country's economic landscape.