Botswana and De Beers Group have appointed Dr. Akinwumi Adesina as Chairperson of the Diamonds for Development Fund. This new initiative aims to transform Botswana’s diamond wealth into economic growth, job creation, and greater citizen participation in the diamond value chain.
Dr Adesina, a former President of the African Development Bank Group, will formally take up the role on 15 June 2026.
His appointment brings one of Africa’s most recognised development finance leaders to a fund created to help Botswana gain long-term value from its diamonds. The Fund is part of a broader strategy to move beyond extraction, ensuring diamonds contribute directly to diversification, beneficiation, innovation, and national development.
Dr Adesina led the African Development Bank Group after being elected in 2015 and re-elected in 2020. His tenure ended in September 2025.
During his leadership, the Bank’s capital increased from $93 billion to $318 billion. He also oversaw the establishment of the Africa Investment Forum, which has helped mobilise more than $225 billion in investment interest for African projects since its launch in 2018.
He was also closely associated with the Bank’s High 5s strategy, launched in 2015, which focused on lighting up and powering Africa, feeding Africa, industrialising Africa, integrating Africa and improving quality of life. The Bank says the strategy has improved the lives of 565 million people across the continent.
Dr Adesina also helped lead the development of Mission 300, a joint platform created by the African Development Bank Group and the World Bank Group. The initiative aims to provide electricity access to 300 million Africans by 2030.
His work has earned him several international honours. He was named Forbes Africa Person of the Year in 2013 and 2019, and Africa’s Man of the Year by EMY Africa in 2022. He has also been listed among New African Magazine’s 100 Most Influential Africans and recognised by Reputation Poll International as one of the world’s 100 most reputable people.
Botswana’s Minister of Minerals and Energy, Bogolo Kenewendo, said Dr Adesina’s appointment strengthens the country’s ambition to use diamonds as a tool for wider economic progress.
“We are proud and honoured to have Dr Akinwumi Adesina join the Diamonds for Development Fund as Chairperson. His appointment solidifies the position of the Government of the Republic 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. We draw inspiration from Dr Adesina’s achievements as an internationally accomplished reformer of strategic sectors and look forward to his impactful influence in the delivery of the Fund’s bold mandate.”
De Beers Group Chief Executive Al Cook said the Fund required a leader with development experience, governance credibility and a strong understanding of Africa’s long-term economic priorities.
“When we set up the groundbreaking Diamonds for Development Fund with the Botswana Government, we knew that we would need an extraordinary leader to achieve our ambition of economic diversification and job creation. 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 chair to shape the Fund’s support for Botswana’s long-term economic objectives. He is a man characterised by deep integrity and outstanding delivery, and I very much look forward to seeing him steer Diamonds for Development in the years to come.”
Dr Adesina said the Fund could become an important model for how resource wealth can serve people more directly.
“I am greatly honoured to be appointed the Chairman of the Board of Directors of the Diamonds for Development Fund by the Government of Botswana and De Beers Group. The Diamonds for Development Fund represents a bold, visionary initiative to ensure that the people of Botswana benefit directly from the wealth generated by diamonds. It is not only diamonds that should shine, but the lives of the people of Botswana must also shine. The Fund’s success will set a global benchmark for how natural resource wealth can create enduring value for future generations. I look forward to working closely with the Government of Botswana and De Beers to ensure that the Diamonds for Development Fund contributes towards a more prosperous future for the people of Botswana.”
Botswana stands among the world’s top diamond producers, with the industry playing a central role in its economy. The Diamonds for Development Fund will help ensure the sector drives job creation, supports local enterprises, develops skills, and builds long-term national wealth.
The Diamonds for Development Fund is now finalising the appointment of independent directors to its board. This will be the next major step before the Fund becomes fully operational.
This appointment signals Botswana’s commitment to converting mineral wealth into broader economic opportunities. For De Beers, it strengthens their partnership model focused on sustainable, long-term development. For Dr. Adesina, it marks a new chapter in advancing African transformation through Botswana’s diamond sector.
