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De Beers and the government of Botswana have named Akinwumi Adesina as the chair of the Diamonds for Development Fund.
Adesina’s career spans nearly four decades of working in addressing development challenges across Africa and internationally, De Beers group said last week. He was president of the African Development Bank Group for two five-year terms. During this period, he launched the High 5s, a strategy that transformed 565 million lives across African countries, De Beers explained. He also spearheaded Mission 300, an initiative the African Development Bank Group and the World Bank Group created to bring electricity to 300 million people in Africa by 2030.
In his new role, Adesina will oversee the fund’s efforts to support Botswana’s long-term economic goals. The miner and the African country’s government created the fund in 2025, with De Beers pledging around $75 million up front as well as further contributions that could add up to around $750 million over a 10-year period.
“[Adesina’s] appointment solidifies the position of the government…to maximize the value of Botswana diamonds as an anchor for economic transformation, diversification, innovation, beneficiation and citizen participation in the diamond value chain,” said Bogolo Kenewendo, Botswana’s minister of minerals and energy. “We draw inspiration from 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.”
Adesina will begin in his new position on June 15.
Image: Akinwumi Adesina. (De Beers)
