Botswana's Diamond Downturn: A Labor of Love Lost

Botswanas Diamond Dilemma: A Nations Economy at Stake as Lab-Grown Diamonds Threaten Natural Stone TradeBotswana, once an African success story driven by diamond exports, now faces an economic downturn due to the rise of lab-grown diamonds. Keorapetse Koko, a former diamond cutter, lost her job as diamond exports plummeted, and Debswana, the largest local diamond producer, saw its revenues cut in half. The World Bank predicts Botswanas economy to shrink by three percent this year. Meanwhile, lab-grown diamonds, now selling for up to eighty percent less than natural stones, have surged from one percent to nearly twenty percent of global sales. Botswana and other African diamond producers are launching a global marketing campaign to promote natural stones, but for workers like Koko, the future remains uncertain. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.