De Beers Group Helping to Create a Ripple Effect Across Botswana’s Economy

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De Beers Group Helping to Create a Ripple Effect Across Botswana’s Economy

A blog from Bruce Cleaver, De Beers Group CEO, discussing the socio-economic impact of the company in Botswana

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Bruce Cleaver, CEO, @DeBeersGroup, on how the company created a ripple effect across Botswana’s economy in 2016 http://bit.ly/2qXVwN3
Friday, May 26, 2017 - 8:00am

CAMPAIGN: De Beers Report to Society 2016

CONTENT: Blog

I’ve always been intrigued by the fact that in Setswana, the word ‘Pula’ means both money and rain. 

Not just because both are valuable resources, but also because of how a financial investment in a person or a business can create a ripple effect through the economy just like a raindrop in a reservoir.

The story of De Beers’ partnership with Government has been told many times before. We are rightly proud of the part we have been able to play in supporting Botswana’s leaders in developing the nation, but we recognise that we need to do more to create an even bigger economic ripple effect.

As a business that has so many touchpoints with different parts of Botswana society, simply contributing through royalties, dividends, taxes and employment is not enough for us. We need to look constantly for ways in which we can embed the opportunity for further economic development and diversification.

And one important way in which we can provide direct support to Botswana’s businesses is through putting the supply chain to work. The more we can source the required goods and services from local providers, the more economic benefit can be retained in-country from our diamond exploration, mining, sorting and sales activities. 

Last year De Beers Group and its joint ventures spent P4.3 billion with Botswana-based suppliers. This represented more than 80 per cent of our total procurement spend in the country and helps to ensure that other enterprises in the country can grow alongside us. 

For example, working with Debswana Supply Chain Management, five existing local suppliers were identified and supported in 2016 via the Tokafala programme, increasing the viability and sustainability of their businesses.

About De Beers
De Beers is a member of the Anglo American plc group. Established in 1888, De Beers is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company’s operating philosophy, the people of De Beers are committed to ‘Building Forever’ by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers, visit www.debeersgroup.com.

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Tel +44 (0) 20 7430 3434
pressoffice@debeersgroup.com

Keywords: Research, Reports & Publications | Business Ethics | Corporate Governance | Corporate Social Responsibility | De Beers Group | Philanthropy & Cause Initiatives | Research, Reports & Publications | Responsible Business & Employee Engagement | Social Impact & Volunteering | Supply Chain & the Circular Economy

CAMPAIGN: De Beers Report to Society 2016

CONTENT: Blog