African Producers Signal Leadership

 

New Era in Global Diamond Industry: WFDB 

WFDB-President, Yoram Dvash said, I was honored to attend the 30th anniversary celebration of the Catoca mine earlier this month, an event that coincided with the 50th anniversary of Angola’s independence. It was a powerful reminder of the central role African countries play in the global diamond industry—and of their growing determination to take an even larger role in shaping its future. 

This sentiment was echoed when we hosted the newly elected President of Botswana, Duma Boka, along with the Ministers of Mining of Botswana, Bogolo Kenewendo, and Angola, Diamantino Azevedo, at the World Federation of Diamond Bourses (WFDB) Presidents’ Meeting in June. The message they brought was loud and clear: Africa’s leading producers are committed to being active participants in the international diamond community. 

Both Angola and Botswana have taken concrete steps to underline their intentions by expressing their desire to join the WFDB. Angola’s newly established Angola Diamond Exchange has applied for membership, while Botswana’s diamond industry leaders have voiced a parallel commitment. Their applications—announced at the June Presidents’ Meeting—reflect a shared ambition to contribute to shaping the global diamond trade.

This transformative moment continued with the signing of the Luanda Accord on June 18, 2025, in Angola’s capital. The landmark agreement united Africa’s major diamond-producing nations and key international organizations in a common mission: to launch a unified global campaign promoting natural diamonds. Angola and Botswana emerged as pivotal leaders during these negotiations.  

All signatories pledged to dedicate 1% of their annual rough diamond revenue to the Natural Diamond Council’s international marketing fund—an unprecedented commitment designed to reinvigorate consumer demand while highlighting the authentic diamond story and the profound positive impact of natural diamonds on producer nations’ economies and communities.  

The leadership of African producers signals a fundamental shift in the diamond industry: they are not only the backbone of global supply but are also asserting their voices in international decision-making forums. Their participation in the WFDB will strengthen influence over policy, technology, and the narrative surrounding natural diamonds.  

By championing investment, innovation, transparency, and ethical practices, Angola and Botswana are ensuring that Africa is firmly positioned at the heart of global diamond industry governance and promotion. The message from African producers is clear: a dedication to transparency and a shared global vision to protect the legacy and value of natural diamonds. Now is the time to listen to this message and welcome them as equal partners at the table.