Dr. Jefferis highlighted the effects of the currency devaluation on the diamond industry, noting that it has led to increased costs for imports and potentially reduced demand for Botswana’s diamond exports. He emphasized the need for the government to implement policies that support local businesses and stimulate economic growth.

Dr. Jefferis also expressed concerns about the gap in exchange rate policy and the country’s foreign reserves. He noted that the current exchange rate regime may not be conducive to economic growth and that the level of foreign reserves is a critical issue that needs to be addressed.

The diamond cutting industry in Botswana is a significant contributor to the country’s economy, and Dr. Jefferis’s remarks highlighted the challenges facing this sector. He emphasized the need for the industry to adapt to the changing economic landscape and for the government to implement policies that support local businesses.

Dr. Jefferis’s presentation served as a call to action for the government and industry stakeholders to work together to address the economic challenges facing Botswana. By implementing policies that support local businesses and stimulate economic growth, the country can mitigate the impacts of the currency devaluation and ensure the long-term sustainability of the diamond industry.

The BDMA members appreciated Dr. Jefferis’s insightful presentation and engaged in a lively discussion on the economic outlook and its implications for the diamond industry. The association is committed to working with the government and other stakeholders to promote the growth and development of the diamond industry in Botswana.