Botswana and De Beers Name Adesina Chairman of Diamonds for Development Fund

The Government of Botswana and De Beers Group appointed Dr. Akinwumi Adesina chairman of the Diamonds for Development Fund. The fund was created to channel diamond revenues into economic diversification and sustainable development projects. Adesina completed his second term as president of the African Development Bank in September 2025. He is scheduled to assume the new role on June 15, 2026.

Background on the appointee Adesina oversaw growth of the African Development Bank’s capital base from $93 billion to $318 billion. He also launched the Africa Investment Forum, which has drawn more than $225 billion in investment interest since 2018.

His earlier work at the bank included the High 5 development agenda and Mission 300, a joint project with the World Bank to supply electricity to 300 million people by 2030.

Minerals and Energy said the appointment supports national goals for mineral beneficiation and citizen participation in the diamond value chain. A De Beers Group executive stated that Adesina’s experience and governance record match the fund’s objectives of diversification and job creation.

Adesina said the fund is designed to ensure diamond wealth reaches Botswana’s citizens directly. He added that its success could serve as a model for other resource-rich countries. The fund is completing the selection of independent directors before beginning full operations.