: 4/5
By The World News Economics Desk
For nearly six decades, the relationship between the Republic of Botswana and the De Beers diamond conglomerate has been heralded as the "Golden Standard" of resource partnership. It is a narrative taught in business schools worldwide: a tiny, post-colonial African nation, emerging from the dirt of poverty in 1966, discovers the world’s richest diamond pipes and strikes a deal with a monopoly giant. The result? Botswana transformed into an upper-middle-income country with free education, low corruption, and a stable currency. : 4/5 By The World News Economics Desk
Critics argue Botswana has already been getting a raw deal for 50 years. They point to the "Sightholder" system—an opaque, invitation-only club where a select few buyers purchase rough diamonds at De Beers-set prices. Botswana and De Beers recently renegotiated their agreement
Botswana and De Beers recently renegotiated their agreement. Key wins for Botswana include: post-colonial African nation